Funding boost for Vic medtech manufacturer


Friday, 17 May, 2024

Funding boost for Vic medtech manufacturer

Breakthrough Victoria has announced a $5bn investment in Neo-Bionica, a Victorian contract medtech manufacturer empowering the next generation of medtech innovators with end-to-end manufacturing and commercialisation services.

Specialising in engineering, bioelectronics and neurotechnology, the Melbourne-based company works with both domestic and international innovators to design and develop implantable and wearable medical devices.

Breakthrough Victoria CEO Grant Dooley said, “Neo-Bionica is unique in Australia — it significantly speeds up the time it takes to develop and trial a medical device, which means people will benefit from the technology earlier.”

“By supporting startups to develop, trial and manufacture medical technology in Victoria, we can ensure these life-saving technologies benefit and prioritise local patients [and] increase jobs and investments in the state.”

Neo-Bionica's facility consists of two workshops and two independent cleanrooms with ISO 7 standard classification, a highly recognised international standard for microfabrication, assembly and testing capabilities.

The company was established in 2021 as a joint initiative of the Bionics Institute and the University of Melbourne and is co-located at St Vincent’s Hospital Melbourne in order to maximise engagement with clinicians.

By offering end-to-end medical device prototype development, clinical trials and initial low-volume manufacturing support, the company plays a vital role in supporting Victorian neurotechnology device innovators and giving them a competitive advantage.

Breakthrough Victoria’s investment will support expansion of Neo-Bionica’s manufacturing capability, facilities and market presence, fuelling commercial growth which will generate up to 45 new jobs.

Image credit: iStock.com/sellen

Related News

Patient harms rise by 59% to 18 million globally

Patient harms rose from 11 million to 18 million globally between 1990 and 2019, but the world...

St John Ambulance ACT on hunt for new CEO

After four years in the role, Adrian Watts is set to finish as CEO on 12 July 2024 and move to a...

Urgent call for warning labels on all alcohol products

Despite clear evidence that alcohol causes at least seven types of cancer, a new national survey...


  • All content Copyright © 2024 Westwick-Farrow Pty Ltd