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Australia's flagship deep tech incubator Cicada Innovations is expanding with the opening of a health-focused incubator at one of Australia's largest health and biomedical research precincts, the Westmead Health and Innovation District, and supported by a grant from Investment NSW.
Australia's latest biotech incubator is calling for innovative early-stage Australian biotechs to take up residency in its new facility in the Melbourne Biomedical Precinct.
SYDNEY, June 22, 2023 /PRNewswire/ Australia's newest biotech incubator is calling for innovative early-stage Australian biotechs to take up residency in its much-awaited Melbourne-based facility. The "Jumar Bioincubator" will be supported by cash and in-kind contributions of approximately $45 million over ten years from its founding partners, global biotech leaderCSL,WEHI, andThe University of Melbourne, as well as an initial investment of $25 million fromBreakthrough Victoria. The incubator will connect early-stage and scaling biotech ventures with state-of-the-art facilities, infrastructure, and support needed to progress discoveries towards real-world treatments, while enhancing the opportunity to commercialise medical research. This will help to support research translation - the process of moving innovative medical discoveries through the research pipeline to become new products - for businesses in areas such as pharmaceuticals, diagnostics, medical devices, digit