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Keeping our medtech industry healthy

31 August 2017

Today I am delighted to officially launch the ‘M2’ precinct, a joint project between CSIRO, Monash University and Monash Health Translation Precinct. This facility also includes CSIRO’s new Biomedical Materials Translation Facility (BMTF).

This new, world-class facility sees CSIRO and Monash biomedical researchers working together to commercialise new medical technologies and pharmaceuticals for industry.

Australian medical technologies have improved lives across the world. It was Australian science that gave us the electronic pacemaker, the bionic ear and extended wear contact lenses, and we are pioneers in the world of 3D-printed medical implants.

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.

Collaborations like M2 will help to ensure the next generation of medical devices are not only created here, but developed and built here ensuring a globally competitive medtech industry.

Through the National Innovation and Science Agenda, the Australian Government is 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. 

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.

Media contact: Minister Sinodinos’ office 02 6277 7070