$14 million will be provided for a pioneering project to prevent severe oral disease through the Morrison Government-backed Biomedical Translation Fund (BTF).
Denteric Pty Ltd is developing a vaccine based on research conducted at the University of Melbourne, with collaborative support from CSL Limited, to fight the disease and will receive the money in three parts each year from 2019 to 2021.
Minister for Health Greg Hunt said that severe oral disease was highly prevalent around the world and caused significant issues such as bone erosion and tooth loss.
“Severe oral disease has been linked to many health problems such as diabetes, heart disease, stroke and Alzheimer’s Disease,” Minister Hunt said.
“The successful development of this vaccine would assist millions of people around the world, and this project is a worthy recipient of funding.”
Minister for Industry, Science and Technology Karen Andrews said the project showed the quality of research that Australian companies were developing.
“Our companies are at the cutting edge of industrial research and the Government fosters their efforts with a range of initiatives, including involvement in the $500 million Biomedical Translation Fund, which is backing this exciting project,” Minister Andrews said.
“The fund fosters both potential breakthroughs in health treatments and business opportunities that will assist Australian companies, boost the economy and create high quality jobs.”
This investment is from the Commonwealth-backed Brandon Capital Partners Medical Research Commercialisation Fund (MRCF) BTF.
The value of MRCF BTF’s investment is $9 million. The remaining $5 million has been contributed by additional private investment.
The research builds on work undertaken by the University of Melbourne’s Oral Health CRC which received funding of over $30 million from the Australian Government’s Cooperative Research Centres Program and an additional $162 million from industry and research participants including CSL.
The Centre for Oral Health will be launched in conjunction with Denteric today, an evolution of the Oral Health CRC and its predecessor, the CRC for Oral Health Science.
The Morrison Governments investment demonstrates its commitment to Australian healthcare and innovation – and is one of many new and exciting projects under the BTF that are set to make a real difference to people’s lives and Australian business.