A NEW medical technology precinct – known as M2 – was launched at Monash University in Melbourne in August.
M2 is a joint project between CSIRO, Monash University and Monash Health Translation Precinct. M2 also includes CSIRO’s new Biomedical Materials Translation Facility (BMTF).
Australian medical technology has led the world in many aspects, improving lives worldwide. Australian science created the electronic pacemaker, the bionic ear and extended wear contact lenses. Australian researchers are currently viewed as pioneers in the world of 3D-printed medical implants.
“This new, world-class facility sees CSIRO and Monash biomedical researchers working together to commercialise new medical technologies and pharmaceuticals for industry,” Industry, Innovation and Science Minister Arthur Sinodinos said.
“We have an extensive track record, and it’s one we want to continue. The M2 facility brings together expertise, experience and equipment needed to turn excellent science into a clinically-tested product, all within the city of Monash.”
At the official opening, Mr Sinodinos said collaborations like M2 would help to ensure the next generation of medical devices were not only created in Australia, “but developed and built here ensuring a globally competitive medtech industry”.
He saide through the National Innovation and Science Agenda, the Australian Government was investing heavily in medical technology with the $20 billion Medical Research Future fund providing long-term financial backing to foster closer collaboration between the research sector and industry, and the $500 billion Biomedical Translation Fund helping commercialise biomedical research in Australia.
“M2’s work will also complement work being done by the Government’s Medical Technologies and Pharmaceuticals Growth Centre (MTP Connect) to help establish Australia as an Asia Pacific hub for medical technology, biotechnology and pharmaceutical companies,” Mr Sinodinos said.
“But beyond the economic growth and employment, the sector has another very important benefit – a healthier and happier Australia.”
M2 is supported by the Science and Industry Endowment Fund.