WHY IMPORTANT TO WISCONSIN
Wisconsin companies that have experience and expertise in medical technologies, solutions, and services may find opportunities.
Australia is investing in advanced health technologies, saying they will bring Australians better cancer treatments, new vaccines, depression treatment without medication, and a better understanding of gut health.
The government is allocating $73 million AUD ($45 million USD) for 19 projects to implement new technologies and to upgrade facilities for cutting-edge medical research.
The projects include:
- $9.8 million AUD ($6.1 million USD) for Targeted Alpha Therapy, a promising cancer treatment that delivers radiation directly to cancer cells without affecting other parts of the body
- $4.3 million AUD ($2.7 million USD) to build a vaccine laboratory to develop new mRNA vaccines and therapies
- $2.9 million AUD ($1.8 million USD) for Australia’s first human microbiome biobank to help researchers study how microorganisms influence our health and how they might be used to treat diseases
- $2.9 million AUD ($1.8 million USD) for a device that treats depression using closed-loop, non-invasive brain stimulation, for potential use in clinics and homes
The projects are funded through the National Critical Research Infrastructure Initiative, a 10-year, $650 million AUD ($403 million USD) Australian government investment from the Medical Research Future Fund.
The latest funding, in June 2023, is part of a larger health care initiative unveiled in 2022 that calls for a total government commitment of $537 billion AUD ($333 billion USD) through 2026.
That announcement calls the effort “a record investment in the future of Australia’s health system.”
Part of the plan involves building or expanding hospital facilities across the country, such as establishing a Western Australian Comprehensive Cancer Center.
Other hospital projects include building a 404-bed Coomera Hospital on the Gold Coast; adding 118 beds at Toowoomba Hospital in the Darling Downs region; and constructing a new hospital-based biomedical engineering research center, the Aikenhead Centre for Medical Discovery, in Victoria.
Wisconsin companies with expertise in the health care sector may find opportunities to participate in this expansion.
