Research into repairing damaged kidneys and a company developing a remarkable Queensland technology that bar-codes chemicals, have each been boosted in the latest round of Innovation Start Up Scheme (ISUS) grants announced by the Minister for Innovation and Information Economy Mr Paul Lucas today (Thursday, December 4).
IMBcom, the commercialisation company for the Institute for Molecular Bioscience (IMB) at UQ, was instrumental in the successful applications for Nephrogenix Pty Ltd and helped Nanomics Biosystems Pty Ltd with the application in the state-wide competitive selection process.
Chief Scientific Advisor to Nephrogenix, (IMB`s) Associate Professor Melissa Little said the company was established as a joint initiative of IMBcom and Monash Commercial (the commercial arm of Monash University) to commercialise the research outcomes of the Renal Regeneration Consortium (RRC).
"The RRC is a research team of 12 national experts in the fields of developmental biology, molecular genetics, bioinformatics and stem cell biology, aiming to develop new technologies to repair kidneys damaged by chronic kidney disease," Professor Little said.
Chronic renal failure (CRF) is a devastating disease and is expensive to treat. It is estimated that 60,000 Australians between 12 and 74 years have CRF, costing the health system approximately $1 billion. Each year approximately 4000 Australian adults will be diagnosed with CRF.
Nanomics founder Professor Matt Trau said the company was focussed on developing and commercialising a platform nanotechnology spanning the fields of genomics, proteomics, drug discovery and human diagnostics.
"Nanomics is developing a new technology to bar-code libraries of tiny ceramic particles to create unique optical signatures and making them traceable," he said.
"This revolutionary `colloidal bar-coding` will for the first time make massive libraries of chemical entities that can be used to improve the speed, efficiency and accuracy of many standard laboratory procedures."
CEO of IMBcom Dr Peter Isdale said he was delighted with the success of these grants and that IMBcom`s translation of research into high value applied and commercial outcomes was reaping rewards for Queensland`s burgeoning biotechnology industries.
"Both Nephrogenix and Nanomics have demonstrated their huge potential which has arisen out of IMBcom`s effective translation of research into high value applied and commercial outcomes," he said.
"The Smart State`s ISUS scheme provides much needed funding for start up companies to redeploy management and prepare business plans," he said.
Media for more information please contact: Melissa Little, Chief Scientific Advisor, Nephrogenix (07 3346 2054), Mark Milsom, Chief Operating Officer, Nanomics Biosystems (0416 270 121), Peter Isdale, CEO, IMBcom (07 3346 2180).
