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Sunday / January 26.
HomeminewsOcular Projects Supported with $14.7m Government Funding Package

Ocular Projects Supported with $14.7m Government Funding Package

Innovations in eye health are among 17 ground-breaking medical projects that have received Federal Government funding today.

The Government is investing more than AU$14.7 million in these projects through the Medical Research Future Fund (MRFF), comprising $8.9 million through the BioMedTech Horizons (BMTH) program and more than $5.8 million through the Biomedical Translation Bridge (BTB) program.

Macuject… is developing artificial intelligence-based clinical decision support software for intravitreal management of age-related macular degeneration

BMTH Program Funding

The BMTH program is a $45 million Government initiative that aims to move technologies to proof-of-concept and commercial development. As part of the second funding round of the BMTH program $8.9 million will be invested in nine projects that include:

  • Macuject Pty Ltd, Victoria, which is developing artificial intelligence-based clinical decision support software for intravitreal management of age-related macular degeneration.
  • PolyActiva Pty Ltd, Victoria, which is developing sustained release ocular implants for delivery of steroids and non-steroidal anti-inflammatory medications to the eye for the prevention and treatment of macular oedema.
  • Enlighten Imaging Pty Ltd, Victoria, is developing a novel hyperspectral retinal imaging platform for next generation artificial intelligence diagnostics.

Industry is backing the BMTH projects by providing $10.6 million in matching contributions.

BTB Program Funding

The BTB program is a $22.3 million initiative that will fund up to $1 million in matched funding to nurture the translation of new therapies, technologies and medical devices through to proof of concept.

Eight projects will share in more than $5.8 million in the first funding round of the BTB program, including a project being undertaken at the Australian National University, Australian Capital Territory, where a team is developing rapid and objective eye and brain testing for better management of ophthalmic and neurological diseases.

Industry is providing an additional $14.6 million in support of the BTB projects.