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Biomedical Translation Fund (BTF) Programme


This programme is an equity co-investment venture capital programme that will support the development of biomedical ventures in Australia. It is a major element of the National Innovation and Science Agenda which aims to help translate biomedical discoveries into high growth potential companies that are improving long term health benefits and national economic outcomes.

Funding is available through private sector venture capital fund managers which will invest in companies with promising biomedical innovations with commercial potential. Three experienced venture capital fund managers have been selected to help turn biomedical discoveries into high growth potential companies which will benefit Australian patients.

A total funding pool of $500 million is available, to be managed by the following licensed BTF fund managers:
- Brandon Capital Partners: $230 million
- OneVentures Management: $170 million
- BioScience Managers: $100 million

Eligible companies seeking for investments are advised to contact the BTF fund managers for more information. All investment decisions will be made by the private sector fund managers.

Who Can Apply?

Eligible applicants include early stage companies seeking for investments (investee companies) and must:
- At the time the licensed fund first makes an investment in it is incorporated under the Corporations Act 2001 and has an Australian Business Number (ABN).
- Be commercialising biomedical discoveries or will, under the investment arrangement with the licensed fund, be required to commercialise biomedical discoveries.
- Be providing all of the goods and services it produces through commercialising biomedical discoveries to persons who are not associates.
- At the time the licensed fund first makes an investment in the company, has a majority of its employees (by number) and assets (by value) inside Australia, or will use the whole of the initial investment within Australia.
- At the time the licensed fund first makes an investment in the company, has an average annual revenue over the previous two years of income that does not exceed $25 million per year. The calculation of revenue for a year of income will exclude any abnormal items.
- Not include a body described in ineligible investments.

Subsequent to an initial investment in an eligible investee company being made by a licensed fund, the relevant company may continue to remain an eligible investee company even if it ceases its incorporation under the Corporations Act 2001, provided that in the reasonable opinion of the fund manager for that fund:
- The relevant company has been incorporated as a company in another jurisdiction.
- The investment in the relevant company continues to promote the objectives of the BTF Programme.
- The results of the commercialisation of biomedical discoveries to which that investment relates will be exploited on normal commercial terms and in a manner that will be for the substantial benefit of the Australian economy.

Please refer to the Guidelines for the list of ineligible investments.

Eligible Activities

Eligible activities include:
- Undertaking a biomedical discovery, such as:
a) Therapeutic, medical or pharmaceutical products, processes, services (including digital health services).
b) Technologies or procedures that represent the application and commercialisation of the outcomes of research that serve to improve health and wellbeing.
- Preparing to undertake a biomedical discovery with the intention of undertaking them under the investment arrangement with the licensed fund.

Alternative or complementary medicine, or traditional medicine are not included.

  • Start-up
  • Research & Development
  • Marketing
  • Export
  • Business Support
Documentation Uploaded
Guidelines 2018-06-03 Download
Fact Sheet 2018-06-03 Download
Guidelines 2018-06-03 Download
Media Release 2018-09-03 Download

Use these documents as a guide only - always get the latest direct from the Administrator

Add to
Status Open
Opening Date 13 Dec 2016
Closing Information
This programme is open on an ongoing basis.

Funding Type Investment
Total Funding Pool $500M
Co-contribution Yes 1:1
Competitive Yes
Eligible Activities
Start-up / Establishment
Innovation and R&D
Who Can Apply?
Healthcare, Medical, Biotechnology and Nanotechnology
Difficulty Rating
Tier Federal
Department of Health
Program Administrator
General WebsiteVisit
Program Website Visit