Five promising digital health companies in Australia are set to propel their products to national and international markets after securing spots in the highly competitive ANDHealth+ commercialisation program.
The companies will share up to $3.75 million in equity-free funding and hands-on support from a network of industry experts, which will enable them to scale new health technologies locally and abroad.
An ANDHealth+ statement said the successful candidates for the latest group of cohorts were Atmo Biosciences, Eugene, Humanetix, Immunosis and Metabolic Health Solutions.
Funded by the Federal Government's Medical Research Future Fund (MRFF), ANDHealth+ plays a pivotal role in fostering innovation and growth in the digital health sector in Australia.
Digital health supporter
"ANDHealth+ is a highly competitive program, and the selection panel has been impressed by the continual improvement in the quality of applications over time,” ANDHealth+ chief executive officer and managing director Bronwyn Le Grice said.
"These five exceptional companies will receive highly-targeted expert advice and mentoring from international industry leaders, specialised commercialisation expertise and significant non-dilutive investment to generate the clinical and commercial evidence required to scale their digital health products and services nationally and internationally.
"Since the first cohort five years ago, ANDHealth+ cohort companies have raised over $148 million in new funding and generated revenues in excess of $49 million, whilst impacting more than 640,000 new patients and generating jobs, clinical trials, and commercial pilots.”
Innovation seekers
Here is a brief overview of the five companies joining the program:
- Atmo Biosciences - Pioneering the world's first ingestible, gas-sensing capsule, Atmo Biosciences aims to provide valuable insights into gut health and microbiome function. This capsule continuously measures clinically important gaseous biomarkers as it traverses the digestive system, offering improved diagnosis, more personalised treatments and earlier relief for gastrointestinal disorders.
- Eugene - Focused on facilitating access to genetic testing and informed health decisions, Eugene addresses the shortage of clinical specialists in scaling genetic testing. Their virtual care model automates 95% of specialist clinical care.
- Humanetix - Powered by an artificial intelligence-driven care engine, the HX Health platform by Humanetix delivers clinical workflows and recommends next steps based on over 160 unique health identifiers for individual patients.
- Immunosis - A clinical-stage start-up, Immunosis is developing diagnostic products for patients with life-threatening immune deficiencies. Their proprietary test method combines a software algorithm and test collection kit to integrate gene expression signatures and mutation information from a whole blood sample, aiding clinicians in diagnosing patients with immune deficiencies and guiding treatment decisions.
- Metabolic Health Solutions - An integrated medical technology and digital health company aiming to deliver better metabolic health outcomes for patients. The company is an ISO13485 manufacturer pioneering measurement-informed lifestyle solutions for obesity.