Five Queensland start-ups specialising in medical technology and therapeutics have touched down in San Francisco, one of the world's life sciences hot spots, to begin training with the prestigious California Life Sciences Institute (CLSI).
Premier Annastacia Palaszczuk congratulated De Motu Cordis, Ellume Health, Field Orthopaedics, Microba and Zucero Therapeutics for being awarded a fully-funded place in a new start-up acceleration program coordinated by Trade and Investment Queensland (TIQ) and Life Sciences Queensland (LSQ).
"These five companies will receive coaching in market analysis, legal requirements, pitching to investors and finance, and gain access to their own in-market mentor network, accelerating their successful entry into the North American market," Ms Palaszczuk said.
"The San Francisco Bay Area is the most mature and experienced life-science cluster in the world and offers extraordinary commercialisation expertise and access to capital.
"As well as being home to groundbreaking innovation in synthetic biology, therapeutics, diagnostics, medical devices and biotech, Silicon Valley's technological know-how makes the region a leader in the convergence of biological and digital health technologies.
"I'm confident it will prove fertile ground for these Queensland innovators to progress their export and investment plans with North American partners."
Program participant Ellume Health develops digitally connected diagnostics that use smart phones to aid test analysis for common diseases and connect patients to treatment.
Ellume Managing Director Sean Parsons said the company would use the CLSI program to help progress commercialisation of its Ellume.lab line of products in North America.
"Our Ellume.lab product line can be used by clinicians to test for flu, group A strep and respiratory syncytial virus," Mr Parsons said.
"For us, the CLSI program is all about developing a network and building a commercialisation capability in the USA to accelerate Ellume.lab's entry into this market.
"It's a great opportunity for us and I believe it's a very worthwhile endeavour for the State Government to support companies in this way."
CLSI's Executive Director of Innovation Services, Steve Karp, said the program would build participants' skills and knowledge and create new global connections.
"Our FAST program provides entrepreneurs with coaching to perfect their business model and product-development plans and build a compelling commercialisation strategy," he said.
"This partnership with TIQ and LSQ will be instrumental in facilitating new investment and collaboration opportunities between California's world-leading life-sciences sector and the vibrant Queensland cluster."
The five companies will be in San Francisco from 14-18 October 2019, returning in January 2020. They will also attend the BIO International Convention in San Diego in June 2020.
Each company will cover its own accommodation and travel costs.
Participating companies:
· De Motu Cordis – innovative medical technologies for rapid drug delivery in emergency care
· Ellume Health – digital diagnostics
· Field Orthopaedics – innovative medical devices for orthopaedic applications
· Microba – gut microbiome testing and analysis
· Zucero Therapeutics – modified sugar compounds to treat cancer and inflammatory conditions.
