Biotech projects win five R&D Start grants

Five biotechnology projects were amongst $19 million worth of AusIndustry R&D Start grants announced today by federal industry minister Ian Macfarlane.

The biggest winner was Sydney biotech Gropep (ASX:GRO) which received $3.3 million for the development of PP0102, its topically administered peptide treatment for psoriasis.

Sydney diagnostics company Medsaic will receive $1.5 million towards the development of its platform technology for the diagnosis of blood borne and solid tissue diseases.

Other grants were awarded to:

• Coridon, for a human herpesvirus (HSV) DNA Vaccine ($1.5 million)
• Vital Health Sciences, for a transdermal delivery system for morphine ($1.7 million)
• Plantic Technologies, for the development of high performance biodegradable films for consumer goods applications ($1.7 million)

Tasmania grabs 3 Commercial Ready grants

Three Tasmanian companies are among the very first projects to be awarded funding under the government's new Commercial Ready program. The successful companies were:

• Verdant, which received $1 million to develop new sensing technology to improve understanding and mastering of complex fisheries and aquaculture systems
• Marinova, which received $894,237 to work on a new process for producing high-value bio-therapeutic products from seaweed
• Serve-Ag, which received $500,706 to develop environmental and plant nutrition monitoring products for crop-based agriculture