Medsaic wins NSW biotech commercialisation award

Diagnostic platform developer Medsaic has won the NSW government's inaugural BioFirst commercialisation award, at a ceremony on Monday evening.

Medsaic, whose Dotscan platform for diagnosis of blood disorders is likely to notch up its first sales this month, took the prize from a field of nine finalists: CathRx (catheter technology), Cellabs (elephantiasis diagnostic), Droneon (stent technology), Hunter Immunology (S. aureus vaccine), Minomic (diabetes biomarkers), Proteome Systems (EPO detection test), Uscom (cardiac monitor) and VRI BioMedical (probiotics).

The awards were designed to help NSW biotechnology companies to increase their local and global maket opportunities.

Accepting the award, Medsaic CEO Jeremy Chrisp said the company, which is based at Australian Technology Park in Sydney, had benefited in various ways from BioFirst programs, as well as private sector involvement. "I think there's a tremendous depth of innovation and talent in NSW," said Chrisp of Medsaic's fellow finalists.

The BioFirst commercialisation award prizes were donated by sponsors PricewaterhouseCoopers, Allens Arthur Robinson, EG Capital, Invetech and Buchan Communications, representatives of which also judged the awards.

CathRx won a separate prize of travel grants and services donated by the North of England Inward Investment Agency.

Introducing the awards, NSW treasurer and minister for state development and Aboriginal affairs, Andrew Refshauge, pointed out the benefits of biotechnology and healthcare research for broader society -- VRI's probiotics, for example, could help to reduce rates of ear infections in children in Aboriginal communities, and improve their chances to obtain a good education.

The awards kicked off a week of biotech events in NSW. Others include a seminar on building value in biotech, investing in biotechnology, and medical devices, as well as a workshop on tissue engineering and stem cell business.