ANDHealth pilot cohort companies Atmo Biosciences and Seer Medical receive $1.6M in government funding via the BioMedTech Horizons (BMTH) program
Two companies which graduated from novel digital health accelerator ANDHealth’s globally unique ANDHealth+ program have received government funding via the BioMedTech Horizons (BMTH) program.
Seer Medical will receive $1 million to develop a real-time seizure forecasting system, through mobile and wearable monitoring, to empower people with epilepsy to regain control of their condition. Atmo Biosciences will receive $620,000 for the application of its Atmo ingestible gas sensing capsule to diagnose Irritable Bowel Syndrome (IBS) and Small Intestinal Bacterial Overgrowth (SIBO).
Bronwyn Le Grice, CEO and founder of ANDHealth said, “We are delighted to see the Commonwealth Government investing in local digital health companies, including those from our cohort. While COVID-19 has resulted in rapid uptake of digital health solutions, it has also exacerbated a number of existing commercialisation challenges, especially access to capital. If Australia is to tap into the growing global demand for digital health solutions, targeted commercialisation programs like ANDHealth and BMTH are vital to help local companies accelerate commercialisation and growth.
“By supporting our digital health industry, we can deliver against the triple aim for post-COVID recovery investment: economic growth through high value, STEM-based companies; a resilient, agile, scalable and personalised healthcare system; and an expansion of high-value manufacturing capabilities.”
Dr Dean Freestone, CEO and co-founder of Seer Medical, said: “Seer is helping people living with epilepsy to get a timely diagnosis and to forecast seizures through use of wearable devices and at-home monitoring. Home health is growing exponentially and COVID is only accelerating the process. We are proud to be a leader in home health and look forward to being a major part of Australia’s growth on the other side of COVID-19. We are very thankful for ANDHealth and its ongoing support of the sector.”
Mal Hebblewhite, CEO of Atmo Biosciences, said: “IBS affects up to one in five adults, but there is currently no definitive test or biomarker. We are addressing an unmet medical need, and would like to thank ANDHealth for its initial support of our business, along with the Commonwealth Government and MTPConnect.”
The Commonwealth Government provides funding for the BioMedTech Horizons program through its $20 billion Medical Research Future Fund (MRFF), while industry is backing these projects by matching contributions to the tune of $21.3 million.
MTPConnect, a not-for-profit organisation driving innovation, productivity and competitiveness in the medical technologies, biotechnologies and pharmaceuticals sector, delivers BioMedTech Horizons on behalf of the Commonwealth Government.