Biomedical Translation Fund (BTF)

The $500 million Biomedical Translation Fund will make venture capital investments in promising biomedical innovations with commercialisation potential in Australia.

  • Status: Open
  • Delivered by: AusIndustry

Overview

The Australian Government has established a $500 million Biomedical Translation Fund (BTF) with $250 million of Commonwealth funding at least matched by private sector investors.

The BTF is an equity co-investment venture capital programme 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 will invest in companies with promising biomedical innovations with commercial potential.

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

Investments

On the 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. ProTA’s first application will be in the treatment of peanut allergies, but the technology has the potential for addressing other food allergies including milk, eggs and nuts.

What support or funding is available?

The $500 million BTF will be used to make for-profit venture capital investments to support the development and commercialisation of biomedical discoveries in Australia.

Who is eligible for investment?

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 BTF Programme Guidelines.

How do I contact BTF fund managers?

BTF fund managers have responsibility for investment decision-making, consistent with the requirements of the BTF Programme Guidelines.

Please contact the BTF fund managers for more information:

Key documents

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