Senator Kate Lundy has congratulated ACT innovator Gamma Vaccines for receiving $70,400 worth of funding to take their innovative project to market. The funding was today announced by Innovation Minister, Senator Kim Carr, as part of 48 COMET grants totaling almost $3.4 million.
The grant recipients, who each receive $70,400 in COMET funds, included funding for an ACT project by Gamma Vaccines Pty Ltd for a Gamma radiation source that destroys viruses without denaturing the virus cell body.
Gamma Vaccines Pty Ltd has developed the gamma irradiation process that preserves the proper structure of the virus and its various proteins. By using the gamma irradiation a destroyed virus preparation can be obtained that is no longer infectious, which can be delivered by different routes of administration, and which induces a potent immunity to different influenza virus strains and subtypes. Live virus samples are frozen and treated with specially metered doses of radiation. The treated virus samples are then used to culture volumes of a vaccine specific to the virus. COMET funds will be used for Strategic Business Planning, Intellectual Property Strategy and Market Research activities.
COMET is closed for applications however, the Government is now accepting applications under the new, $196 million Commercialisation Australia.
Commercialisation Australia is providing hands-on assistance to help innovative businesses and researchers turn their ideas into dollars through a range of tailored assistance measures. These measures include funding to access specialised advice and services.
For more information about Commercialisation Australia, including how to apply, visit www.commercialisationaustralia.gov.au or call the hotline on 13 22 56.
A list of the grants announced today can be found at www.ausindustry.gov.au
Media contact: Annika Hutchins 0407 458 882
