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Researching parasitic worms to develop treatments for inflammatory diseases, creating 3D bio-printed wound dressings, and developing advanced diagnostic tools for early disease detection are some of the innovations set to shake up healthcare around the world, as part of a Brisbane accelerator designed for early-stage medtech companies.
The Brisbane Economic Development Agency (BEDA) has chosen 11 innovative startups to participate in its MedTech Global Accelerator Program, now in its third year, which offers founders a six-month intensive syllabus designed to help companies attract commercialisation funding for their life-improving technologies.
The program will also offer entrepreneurs the opportunity to pitch to global investors at J.P. Morgan Healthcare Week, which takes place in San Francisco in early 2025.
One participant taking part in this year’s program is Bio BKN founder Dr Bhanu Manickavasagam, who is working alongside her team to use marine collagen - which comes from the skin of fish - to create 3D bio-printed wound dressings and 3D bio-printed tailored ligaments and tendons for veterinary and clinical use. The technology can also be used for advanced tissue bioengineering for orthopaedic applications.
Another entrepreneur in the accelerator is Professor Alex Loukas, who co-founded Macrobiome Therapeutics alongside Dr Paul Giacomin in 2021. The company is investigating the therapeutic potential of hookworms and other parasitic worms to develop novel drugs that can treat chronic debilitating diseases with limited treatment options, such as Inflammatory Bowel Disease and Type-2 Diabetes.
Lord Mayor Adrian Schrinner said Brisbane's reputation for pioneering life-changing health technology was supported by a thriving start-up culture and world-class research and healthcare facilities.
“Brisbane is at the forefront of medical technology innovation globally and this year’s cohort represents the next wave of ground-breaking health solutions,” Schrinner said.
“Their success will not only benefit the lives of everyday people, but also contribute significantly to Brisbane’s economy by creating jobs and attracting investment and top-tier talent to our city.
“Our city’s investment in research and development is yielding impressive results, with homegrown businesses like Vaxxas and Microba, who are mentors for this accelerator program, leading the way in gaining international recognition and securing vital partnerships and investments.”
According to BEDA’s State of the City 2024 Report, Brisbane is home to one of the largest health ecosystems in the Southern Hemisphere.
The city’s export growth rate of medical and pharmaceutical products is almost seven times the Australian average. The report also found that Brisbane’s health sector is set to grow by 36 per cent by 2031.
Related story: Brisbane medtech accelerator welcomes 2023 cohort
Accelerator alumni and founder of Convergence Medical, Dr Chris Jeffery, said BEDA had been one of his company’s biggest supporters.
Founded in 2022, Convergence Medical is developing a world-first arthroscopic surgical robot VO1, which is designed to offer surgeons greater control when performing minimally invasive surgery. Last year, the system was accepted into the US Food and Drug Administration’s (FDA) Breakthrough Devices Program.
Before founding the startup, Jeffery spent time as an executive director at hearing technology company Audeara (ASX: AUA). Following that venture, he became CEO of Field Orthopaedics – a medical equipment manufacturing business that has been acquired by a global distributor.
“Convergence Medical is proud to be a Brisbane-based company and we see many advantages living here, working here and collaborating with the other organisations,” Jeffrey said.
“BEDA is one of our biggest supporters and champions. They’ve got behind us in numerous campaigns, for example with JP Morgan and the medtech accelerator, and ongoing investment conversations, to help us work through plans and strategies.”
“I’m a third-time founder. My prior two companies are global businesses and I still call Brisbane home. I don’t think there’s anywhere better for work-life balance, living your best life and setting up and growing in technical industries.”
The accelerator is delivered in partnership with US-based investment facilitator Life Science Nation, which has also supported previous cohorts that participated in the program.
The 2024/25 MedTech Accelerator cohort includes:
- Akunah: Pioneering AI and data analytics company at the forefront of personalised healthcare software solutions.
- AP1 Longevity: AP-1 inhibition to reignite youthful immune-cell function for enhanced vaccine and immune therapy efficacy in the elderly.
- Bio BKN: Bio BKN’s vision is to improve health and clinical outcomes by developing novel 3D bio-printed marine collagen matrices (soft tissue applications including wound dressings and hard tissue applications for complex ligament or tendon applications and replacement).
- Cardihab: Making health more accessible and equitable via a digital platform for cardiac rehabilitation and the management of chronic diseases.
- Exintech Pty Ltd: Developing advanced diagnostic tools for early disease detection.
- Fempro Armour: Designing discreet protective gear against hip injuries for the elderly, dementia sufferers and people with disabilities.
- Flomatrix: Innovating novel IV catheter tip technology, aimed to reduce the high failure rates experienced when the IV cannula is dwelling in the vein.
- Kimaritec Pty Ltd: Identifying small molecules that can block modification of specific cancer related proteins that cause targeted protein degradation.
- Macrobiome Therapeutics Pty Ltd: Harnessing the therapeutic potential of hookworms to develop drugs for the treatment of inflammatory, autoimmune, metabolic and respiratory diseases.
- Servatus Ltd: Developing innovative treatments for autoimmune, gastrointestinal and dermatological conditions.
- Smilo Health: Providing end-to-end virtual AI-powered dental solutions for practitioners to connect with patients and drive better practice growth.
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