Nirtek

📢 NEWS: MTPConnect Launches $28.5M Accelerator Investment Backing Homegrown Start-up Innovations for Heart Disease and Diabetes  MTPConnect will inject much-needed funding and support for Australian SMEs to commercialise innovative medical products to better treat cardiovascular disease and diabetes when it rolls out  new investment through its Targeted Translation Research Accelerator (TTRA) boosted by industry partners CSL Limited and Roche Diagnostics Australia. An initiative of the Medical Research Future Fund, this program will accelerate into products promising drugs and devices focused on cardiovascular disease (CVD) and the complications of diabetes (type 1 and type 2). MTPConnect CEO Stuart Dignam said the new investment will open for expressions of interest later this year. “Our new TTRA initiative, covering both therapeutics and devices, is designed with translation and commercialisation in mind, making all the difference for SMEs with moonshot ambitions,” Mr Dignam said. “Our experience running similar accelerator programs has revealed that the value of non-dilutive funding – along with access to industry knowledge, mentoring, market expertise and commercialisation skills – is a powerful multiplier for SMEs that truly boosts their chances of success. “That’s why we’re delighted to bring industry giants CSL Limited and Roche Diagnostics into the program to ensure our home-grown innovators can tap into the very best of industry expertise and support.” Victorian medtech startup Nirtek is a recipient of MTPConnect accelerator support, receiving TTRA backing in 2021 for its groundbreaking device that can identify unstable coronary plaque in arteries and help cardiologists prevent future heart attacks. Nirtek CEO Matthew Hoskin says the support made all the difference. “With funding and advisory support from MTPConnect’s accelerator, our company has made enormous progress in developing and testing a prototype device and we’re now seeking the next stage of investment to enable us to build and test a complete trial-ready system and conduct our first in-human clinical trial,” said Mr Hoskin. The TTRA program will call for expressions of interest from SMEs developing drugs and devices by late September 2024. Find out more: https://lnkd.in/gSzd6qvr Our TTRA story took the headlines on Seven News Sunday evening bulletin. 📺 https://lnkd.in/gpvTv45b Stuart Dignam, Hon. Jaala Pulford, Lauren Eve Kelly, Mana Liao, PhD, Erin McAllum, Nirtek, Karlheinz Peter, Baker Heart and Diabetes Institute, Tracey Ellis, Bronwyn Kingwell, Kenny Lean, Roche Diagnostics Australia

Very interesting to hear from two of our Targeted Translation Research Accelerator (TTRA) initiative's awardee #researchprojects on Friday 8 December - the University of Sydney and Nirtek - at the Australian Stroke and Heart Research Accelerator (ASHRA) Partnering Summit held at the victorian heart hospital monash health in Clayton, Victoria. Professor Steven Wise from the University of Sydney presented on the TTRA journey for the research project on 'Local regulation of inflammation for the treatment of peripheral arterial disease', which included founding a company, raising seed capital, assigning all IP; designing, manufacturing and iterating a balloon catheter; and demonstrating safety and efficiency in industry standard pre-clinical models. Professor Wise said the venture capital landscape in Australia was challenging and it could be difficult finding out exactly who you need to talk to for support and funding. He said he spent up to 50 per cent of his time 'hustling' and talking to anyone and everyone to tell them about the research project. Professor Wise said the TTRA program had been extremely helpful and supportive on many different levels, which had really helped with the three parts of the project: the balloon catheter, the nanoparticle platform and the small and large animal models. Professor Wise also said a big thank you to UniQuest, Medical Device Partnering Program and Sydney Local Health District. Presenting on the Nirtek research project: 'NIRAF Guidewire for detection of unstable coronary Plaques to prevent heart attack and death', Matthew Hoskin said it takes a village to raise a medical device. And the Nirtek TTRA journey had started at Baker Heart and Diabetes Institute, then involved Swinburne University of Technology, then RMIT University and 3D Printing at its Advanced Manufacturing Precinct, and then applying for research project funding from TTRA followed by external investment in the research project. Matthew Hoskin said the TTRA program's rigorous and intensive due diligence process led to Nirtek securing external angel investment, just after the company was awarded the TTRA funding. He said the due diligence and becoming a TTRA project awardee made the company and the project much more attractive to investors. The #TTRA team and other partners still call up to check in, provide advice and offer help, including the Medical Device Partnering Program, Exa Product Development, Neo-Bionica and Sento Solutions Pty. Ltd. He said we see the TTRA team and our partners as valuable members of our extended research project team. Graphic record of session (visual slide) from the #ASHRASummit by Debbie Wood. Hon. Jaala Pulford | Stuart Dignam | Lisa Dubé | Lauren Eve Kelly | Erin McAllum | Mana Liao, PhD | Jason Kovacic | Stephen Nicholls | Clara Chow | Richard Taggart | Andrew Gooley | Rebecca McQualter | Bronwyn Kingwell | Alastair Hick |