Biomedical Translation Fund (BTF)

At a glance

Open

Provides companies with venture capital through licensed private sector fund managers to develop and commercialise biomedical discoveries in Australia.

Who can apply:

At a minimum, at the time of the first investment, you must be an eligible company that is, or will be, developing and commercialising biomedical discoveries and have:

  • a majority of your employees and assets inside Australia, or will use the whole of the initial investment within Australia
  • an average annual revenue over the previous two years below $25 million per year.

Other eligibility requirements apply.

Deadline to apply:

You may contact a BTF fund manager at any time.

Contact information:

13 28 46

business.gov.au/contact

Contact a Fund Manager

Overview

The Australian Government has established a $501.25 million Biomedical Translation Fund (BTF) with $250 million of Commonwealth capital and $251.25 million private sector capital.

The BTF is an equity co-investment venture capital program announced in the National Innovation and Science Agenda that:

  • supports commercialisation of biomedical discoveries in Australia; and
  • helps translate biomedical discoveries into high growth potential companies to deliver long term health benefits and national economic outcomes.

Funding is available through three private sector venture capital fund managers, which are investing in companies with promising biomedical innovations with commercial potential.

AusIndustry is delivering the BTF on behalf of the Australian Government Department of Health.

Eligibility criteria

The BTF program does not automatically provide capital to all companies that satisfy the eligible investment criteria. Instead, three fund managers have been licensed by the Australian Government to make investment decisions.

The BTF focuses on supporting early stage companies that are, or will be, developing and commercialising biomedical discoveries, for the health and economic wellbeing of Australians.

Biomedical discoveries include: therapeutic, medical or pharmaceutical products, processes, services (including digital health services), technologies or procedures that represent the application and commercialisation of the outcomes of research that serve to improve health and wellbeing. It does not include alternative or complementary medicine, or traditional medicine.

At the time of the first investment, an eligible company must have:

  • a majority of its employees and assets inside Australia, or will use the whole of the initial investment within Australia, and
  • an average annual revenue over the previous two years below $25 million per year.

For more information on criteria for eligible investments, please refer to the Programme Guidelines.

How to apply

The BTF fund managers are responsible for investment decision-making, consistent with the requirements of the Programme Guidelines.

Contact the BTF fund managers if you're ready to seek investment and for more information:

Key documents

  • Programme guidelines
  • Factsheet

Investments

On 27 May 2017, the Minister for Health, Greg Hunt, and the Minister for Industry, Innovation and Science, Arthur Sinodinos, announced the first investment commitment under the BTF program:

ProTA Therapeutics Pty Ltd (OneVentures Healthcare Fund III)

OneVentures Healthcare Fund III has provided $10 million to ProTA Therapeutics to advance the development of a promising new treatments of food allergies in children and adults.

On 11 September 2017, Minister Hunt and Minister Sinodinos announced a further three investment commitments.

Rex Bionics (BioScience Managers Translation Fund 1)

BioScience Managers Translation Fund 1 has committed $5 million to Rex Bionics to develop a hands-free robotic device to help people with severe disability to walk, exercise and rehabilitate.

Saluda Medical (BioScience Managers Translation Fund 1)

BioScience Managers Translation Fund 1 has committed $3.3 million to Saluda Medical for neuromodulation technologies for people suffering from chronic back pain and other debilitating conditions.

CHARM Informatics (BioScience Managers Translation Fund 1)

BioScience Managers Translation Fund 1 has committed $5 million to CHARM Informatics for data aggregation and commercialisation services for makers of ‘smart’ medical devices.

Thanks for your feedback. If you have any ideas on how we can improve, we'd love to hear them.

Please provide your comments in the feedback form.

You might also be interested in