Biotech projects win five R&D Start grants
Friday, 11 March, 2005
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
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