Brisbane MedTech program seeds global investment

16 JUNE 2023

Spider venom to treat heart attack and stroke, technology to grow artificial human tissue and the world’s first arthroscopic surgical robot are some of the Brisbane innovations set to change healthcare around the world, as part of a Brisbane accelerator program for early-stage ventures.

Brisbane Economic Development Agency (BEDA) has selected 11 businesses to join the second-year cohort of its successful MedTech Global Accelerator program, to fast track their connections with international partners for collaboration, investment, and distribution deals.

Lord Mayor Adrian Schrinner said Brisbane was a globally recognised leader in medical technology, powered by a vibrant start-up culture, world-class research and healthcare institutions and great local talent.

“Brisbane has a global reputation for developing life-changing health innovation and the continued success of homegrown start-ups around the world will drive economic growth, create new jobs and continue attracting leading talent to the city,” Cr Schrinner said.

“The calibre of businesses participating in the MedTech Accelerator program is testament to the quality of the research and development happening in Brisbane, with more than half of last year’s cohort already securing new partnerships, investment and clients.

“Brisbane’s world-class research and health institutes are incubators for ground-breaking innovations with the potential to improve patient outcomes, make healthcare faster and more convenient for people and even save lives.

“Council is proud to continue championing local business for global investment as we establish new market pathways through this program.”

Renowned Clinician-Entrepreneur Professor John Fraser is founder of Brisbane MedTech company and cohort alumni, De Motu Cordis, a needle-free epinephrine smart inhaler for the treatment of anaphylaxis, and founder of the Critical Care Research Group. Professor John Fraser joins the program as an official ambassador to spearhead Brisbane's global reputation for medical innovation.

“Brisbane’s success in biotech and health isn’t an overnight success story – it’s underpinned by the collective contribution of the city’s state of the art health institutes and universities, connected medical hospital network and top tier talent,” said Professor John Fraser.

“Brisbane is already seen as punching way above its weight in the MedTech industry and I’m honoured to fly the flag and help the city push even further ahead by amplifying Brisbane’s credentials as a leading destination for technology and innovation in the health sector.”

The 2023/24 MedTech Accelerator cohort includes:

  • Convergence Medical: developing the world's first arthroscopic surgical robot for a common procedure making up over 50% of orthopaedic operations treating up to 3.3m patients per year.
  • Cyteph: developing a new immunotherapy innovation using T cell therapy to target and destroy solid tumours.
  • Fovero Therapeutics: developing novel immunotherapies for treating 85% of colon cancers and deadly triple negative breast cancer.
  • Gelomics: using technology that enables scientists to grow human cells into artificial human tissues as a superior and ethical alternative to animal testing in biomedical research and development.
  • Infensa: developing therapeutics using funnel web spider venom to treat two of the leading causes of death worldwide, myocardial infarction and stroke.
  • Medicsen: development of a needle-free smart patch for painless delivery of large drugs like insulin, heparin or antibodies using safe ultrasound waves.
  • PEP Health: a communications platform that provides a unique way for patients to monitor, manage and communicate their health journey with their clinical team to enhance healthcare and patient outcomes and reduce hospital readmissions.
  • Queensland Brain Institute, The University of Queensland: The University of Queensland’s (UQ) Queensland Brain Institute (QBI), have developed a novel ultrasound technology that effectively removes the plaques that characterise Alzheimer’s Disease.
  • Seipel Group: An internationally recognised leader in natural urological health, creating innovative formulations to improve urinary control at all life stages for men, women and children.
  • Vast Bioscience:  developing non-opioid pain therapies to treat severe and chronic pain that traditionally relies heavily on highly addictive opioid medication.
  • WearOptimo: developing a unique patent protected adhesive patch embedded with sensors for earlier detection of unpredictable and serious health-related incidences, such as heart attacks and critical dehydration levels.

BEDA’s MedTech accelerator program is delivered in partnership with US based investment facilitator Life Science Nation and will culminate with attendance at the global investor RESI Conference in San Francisco where participants will pitch to active investors during JP Morgan Healthcare Week in January 2024.


Important Disclaimer: Selection for participation in the MedTech Accelerator Program (the Program) does not amount to any representation or endorsement, either direct or indirect, by Brisbane Economic Development Agency (BEDA) or any of its officers, employees or contractors, of any intellectual property, technology, product, service or offering provided or developed, or proposed to be provided or developed, by any participant in the Program. No participant in the Program, will, directly or indirectly, state or imply that participation in the Program is an endorsement by BEDA.

Scientist at Vaxxass Brisbane