Biomedical Translation Fund (BTF)
At a glance
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.
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.
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:
- Brandon Capital Partners
(03) 9657 0700
- OneVentures Management
(02) 8205 7379
- BioScience Managers
Chief Investment Officer/Director
(03) 9618 8248
Investee companies announced:
- 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 - Prota Therapeutics - under the BTF program.
- On 11 September 2017, Minister Hunt and Minister Sinodinos announced a further three investment commitments - Rex Bionics, Saluda Medical and SummatiX Pty Ltd.
- On 11 April 2018, Minister for Health, Greg Hunt and the Minister for Jobs and Innovation, Michaelia Cash announced the fifth BTF investment commitment - Global Kinetics Corporation.
- On 17 May 2018, Minister Hunt and Minister Cash announced four additional BTF investment commitments – BiVACOR Pty Ltd, Avita Medical Ltd, Aravax Pty Ltd, and GI Therapies Pty Ltd.
- On 5 June 2018, Minister Hunt and Minister Cash announced the largest BTF investment commitment to date - Certa Therapeutics Pty Ltd.
- On 14 August 2018, Minister Hunt and Minister Cash announced a BTF investment for North Queensland company - Paragen Bio Pty Ltd.
- On 21 March 2019, Minister Hunt and Minister Andrews announced a further three BTF investment commitments - Respirion Pharmaceuticals Pty Ltd, Madorra Pty Ltd and Blade Therapeutics Pty Ltd.
- On 26 September 2019, Minister Hunt and Minister Andrews announced a BTF investment to Denteric Pty Ltd to develop a vaccine to prevent severe oral disease.
1. ProTA Therapeutics Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has committed $10 million to ProTA Therapeutics to advance the development of a promising new treatments of food allergies in children and adults.
2. Rex Bionics (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has invested $11 million to Rex Bionics to develop a hands-free robotic device to help people with severe disability to walk, exercise and rehabilitate.
3. Saluda Medical (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has invested $3.3 million to Saluda Medical for neuromodulation technologies for people suffering from chronic back pain and other debilitating conditions.
4. SummatiX Pty Ltd (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has committed $10 million to SummatiX Pty Ltd for data aggregation and commercialisation services for makers of 'smart' medical devices.
5. Global Kinetics Corporation (MRCF-BTF Fund and BioScience Managers Translation Fund 1)
Brandon Capital Partners' MRCF BTF Fund and BioScience Managers Translation Fund 1 has committed $18 million to Global Kinetics Corporation to accelerate the development and commercialisation of a wrist-worn device that measures symptoms and provides clinical reports to assist with planning routine care for Parkinson's patients.
6. BiVACOR Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has invested $9.7 million to BiVACOR, a company that is developing a rotary total artificial heart device that could provide a life-saving solution for individuals requiring a new heart.
7. Avita Medical Ltd (BioScience Managers Translation Fund 1)
BioScience Managers Translation Fund 1 has invested $6.5 million to Avita Medical Ltd for improved skin regeneration through a unique process using the patient's own skin.
8. Aravax Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners' MRCF BTF Fund has invested $5.59 million into Aravax Pty Ltd for a novel form of peptide immunotherapy to treat peanut allergy.
9. GI Therapies Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners' MRCF BTF Fund has invested $1.62 million to GI Therapies Pty Ltd to develop a device to treat a range of gastrointestinal motility disorders.
10. Certa Therapeutics Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners' MRCF-BTF Fund has committed $22 million to Certa Therapeutics to progress the clinical development of a drug to treat kidney disease.
11. Paragen Bio Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has committed up to $2 million to Paragen Bio Pty Ltd, a company that is developing treatments to target autoimmune diseases using the beneficial proteins found in parasitic hookworms.
12. Respirion Pharmaceuticals Pty Ltd (MRCF-BTF Fund)
Brandon Capital Partners’ MRCF-BTF Fund has committed $20 million to Respirion Pharmaceuticals Pty Ltd to fund clinical trials and product development in a new therapy for the treatment of Cystic Fibrosis.
13. Madorra Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has invested $4.06 million to Madorra Pty Ltd. The company is working towards changing the paradigm for treating vaginal dryness for post-menopausal women and breast cancer survivors, by providing a medical device solution to a problem that has previously only been served by pharmaceuticals.
14. Blade Therapeutics Pty Ltd (OneVentures Healthcare Fund III)
OneVentures Healthcare Fund III has invested $17.2 million to Blade Therapeutics Pty Ltd to assist in the development of a drug to treat fibrosis. Fibrosis is a disease with a high morbidity rate which affects many organs, for which there is no effective treatment. It particularly affects the lungs, kidneys and liver.
15. Denteric Pty Ltd (MRCF-BTF Fund)
MRCF-BTF Fund has committed $9.23 million into Denteric Pty Ltd to assist in the development of a vaccine that will prevent severe gum disease, which is highly prevalent around the world and causes significant issues such as bone erosion and tooth loss. Severe gum disease has also been linked to many other health problems such as diabetes, heart disease, stroke and Alzheimers Disease.