Australia invests $7.9m in medical support for heart disease and diabetes

Fourteen start-ups and innovators will receive funding and commercialisation support.

The Australian Government is set to invest $7.9m (A$12m) to support the development of locally made medical devices and medicines for cardiovascular disease and diabetes.

Fourteen Australian start-ups and innovators will receive funding and commercialisation support to develop improved treatments for cardiovascular disease and type 1 and type 2 diabetes.

The companies were selected through the MTPConnect’s Targeted Translation Research Accelerator programme.

According to the government, over 1.3 million Australians live with diabetes, and 1.3 million Australian adults are living with one or more conditions related to heart, stroke or vascular disease.

Moreover, Cardiovascular disease is the leading cause of death in the country, whilst diabetes is amongst the top 10.

A$1 = $0.66