$3.65 Million for Local Medical Devices

10 Aug 2018 health 2527

Parliamentary Secretary for the Illawarra Gareth Ward MP has today announced that three local Wollongong based companies have received $3.65 million in NSW Government funding to develop and market a next-generation condom, a device to help those with chronic pain and a unique 3D system for eye repair.       

Mr Ward said that these local companies are among seven recipients of the 2018 NSW Medical Devices Fund (MDF) together awarded $9.85 million by the NSW Government.   

“The MDF invests in the development and commercialisation of medical devices and related technologies,” Mr Ward said.    

“Locally based Cenofex Innovations Pty Ltd has been allocated $1.5 million under the Fund, iFix Medical Pty Ltd has received $1.15 million and Eudaemon Technologies Pty Ltd will receive $1 million in funding.

“These innovative, home-grown devices have the potential to dramatically improve the lives of people across NSW and beyond as well as boosting our local economy,” Mr Ward said.

The NSW Minister for Health and Medical Research Brad Hazzard said that since the MDF began in 2013, the NSW Government has awarded more than $50 million in grants to 31 technologies. 

“The NSW Government is committed to supporting innovators in the medtech industry in getting their brilliant ideas off the ground and ultimately saving millions of lives around the world,” Mr Hazzard said.

MDF past recipients have now raised more than $456 million in funding, treated more than 180,000 patients and all have quadrupled their staff in the process.

Illawarra Recipients of 2018 Medical Devices Fund:

Cenofex Innovations Pty Ltd ($1.5 million): A device to improve treatment of side effects of the incurable chronic and painful disease, Lymphoedema. It is capable of actively moving lymphatic fluid while incorporating a patient’s need for comfort, portability, and ease. The disease can also lead to dangerous infections, restricted movement and depression.

iFix Medical Pty Ltd ($1.15 million): The iFix system can deliver a 3D-printed structure directly onto the eye to seal wounds in the treatment of corneal ulceration, better preventing infection, relieving pain and accelerating healing. The condition is extremely painful and accounts for 55,000 hospital presentations each year in Australia.

Eudaemon Technologies Pty Ltd ($1 million): A next-generation, non-allergenic condom made from hydrogels that act like latex rubber but with enhanced feel and self-lubrication and without odours or tastes. Although condoms can prevent both pregnancy and STIs they are often avoided due to the stigma of reduced sensation.

For more information, please visit the website at: www.health.nsw.gov.au/ohmr/mdf/