Innovation and ICT Minister Dave Kelly today announced the McGowan Government will invest $150,000 in funding from the New Industries Fund into WA-based medical device start-up OncoRes Medical to enhance capability and create local jobs at their Nedlands-based R&D facility.
The funding which will further support OncoRes Medical’s ability to run clinical studies in Western Australia, and provide early access to the clinical benefits of its cutting-edge technology to Western Australian patients.
Founded in 2016, OncoRes Medical develops medical imaging technology that helps tackle the challenge of incomplete tumour removal during breast cancer surgery, alleviating the significant physical, psychological and economic burdens associated with repeat operations.
The technology behind OncoRes Medical was developed by a team of bioengineers, cancer surgeons and pathologists from The University of Western Australia, the Harry Perkins Institute of Medical Research and the Western Australian Department of Health.
The company was the 2019 AusBiotech and Johnson & Johnson Innovation Industry Excellence ‘Emerging Company of the Year’ award winner and achieved global recognition as the overall runner-up in the prestigious MedTech Innovator Program and winner of the Value Award, which was awarded to the company with the greatest potential to impact patient care.
The $16.7 million New Industries Fund was established to support and accelerate new and emerging businesses to diversify the Western Australian economy and create new WA jobs.
For more information about the New Industries Fund, visit the WA.gov.au website at https://www.wa.gov.au/organisation/department-of-jobs-tourism-science-and-innovation/new-industries-fund
As stated by Innovation and ICT Minister Dave Kelly:
“The McGowan Government is committed to supporting the development and manufacture of cutting edge medical technology, like that being developed by OncoRes, in WA.
“Any technology that reduces the need for repeat surgeries is a significant health and cost benefit to the patient, and alleviates demand on our hospitals.
“The fact that we have this sort of technology being invented by WA researchers and universities is a testament to the levels of expertise and innovation in our State.”