Joint statement on the Research & Development Tax Incentive

The MTAA along with other key stakeholders has been working to highlight to Government the importance of R&D tax incentives for the MedTech industry. The proposed reforms by ‘Ferris, Finkel, Fraser’ Review of the Research & Development (R&D) Tax Incentive if adopted would have a devastating impact. MTAA has been proactively engaging with Government to highlight case studies to show the potential decline in this critical activity from members and the impact to the Australia economy.

Australian MedTech industry to help add $18 billion and 28,000 new jobs by 2025

The Medical Technology Association of Australia (MTAA) welcomed the blueprint report from CSIRO and MTPConnect which outlines how medical technologies and pharmaceuticals (MTP) could add $18 billion to the Australian economy and about 28,000 new jobs within the next eight years.

Research by MTAA showed the medical technology (MedTech) industry in Australia employs over 19,000 high skill workers, across 500 companies. The majority of which are small to medium enterprises (SME), and is worth over $11 billion in economic contributions – making it a major contributor to Australia’s MTP sector.

MedTech Forum: Australian MedTech Innovation - The Clinical Research Landscape

This full day forum will provide an update of ongoing reforms in clinical research, its implementation progress, roadblocks and success seen thus far to inform whether the long term goal of leading the world in clinical trials research is attainable. In addition, sponsors, start-ups companies and clinical researchers will have an opportunity to discuss and share their invaluable experience from years of conducting medical devices clinical trials in Australia.

PLAC Meeting summary & key points 

The Prostheses List Advisory Committee (PLAC) held its 5th meeting on 16 February 2017. The main discussion points were relating to targeted benefit and category reviews, longer term benefit setting framework, review of the listing criteria, and minimising duplication and improving the listing process.

The next PLAC meeting was held on 30 March 2017, and the communique for this meeting is expected at the end of April 2017.

New Consumer Committee on Health Technology Assessment

The Department of Health has formed a new consumer committee to advise policy makers on health technology assessment.

The committee is called the Health Technology Assessment (HTA) Consumer Consultative Committee (CCC), which  is chaired by Jo Watson – PBAC consumer representative, is tasked with providing independent advice and support to the Department of Health and its health technology assessment committees including the Pharmaceutical Benefit Advisory Committee (PBAC), Medical Service Advisory Committee (MSAC) and Prostheses List Advisory Committee (PLAC). HTA CCC members will be creating opportunities for patient groups and communities to learn more about the assessment processes, and when and how to effectively contribute consumer and community evidence and views.

NHMRC has established two National Scientific Committees

As part of a pilot project to provide expert advice to sponsors and Human Research Ethics Committees (HRECs) on complex genetic studies and clinical trials involving medical devices.

The intention is for the Committees to provide expert opinion to sponsors and HRECs, either before a proposal is submitted for ethics review or during the review process if the HREC feels it lacks the necessary expertise. The pilot project will provide evidence to NHMRC on the need for, and sustainability of, national expert review bodies.

NSW Medical Devices Fund

The Application Guidelines and Form are available on the NSW Health website

The Medical Devices Fund is a competitive technology development and commercialisation program that aims to:

• Provide support to individuals, companies, public & private hospitals, medical research institutes, universities & the medical devices industry, to take local innovation to market. 
• Increase the uptake of NSW medical devices by the health system where they are cost effective and contribute to improved patient outcomes.

More than $35 million has been awarded to 20 outstanding new medical technologies since the Medical Devices Fund began in 2013. In the 2017-2018 financial year the Fund has over $8 million available.
 

Full Applications will close on 29th May 2017

Queensland University of Technology Bridge Program

The Bridge Program is an industry led initiative designed to enhance the commercialisation of Australian pharmaceutical research by connecting biotech entrepreneurs and business savvy academics with global industry leaders so they can more successfully bring new medicines to patients.

Launching in June 2017, the program will select 100 participants annually from across Australia to take part in face-to-face and online training in the scientific, legal, financial, clinical, regulatory and reimbursement disciplines that contribute to research translation and the commercialisation of medicines.

Topics to be covered face-to-face and online include:

• Protecting intellectual property
• Structuring biotech financing deals
• Designing clinical trials to shorten regulatory approval processes
• Enhancing reimbursement returns

Expressions of Interest close on 28 April 2017.

Find out more on the Queensland University of Technology website here.