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Grant Award View - GA268799
Accelerating production of Australian fucoidan for therapeutic...
GA ID:
GA268799
Agency:
Department of Industry, Science and Resources
Approval Date:
24-Aug-2022
Publish Date:
7-Oct-2022
Category:
Industry Innovation
Grant Term:
6-Oct-2022 to 29-Jun-2025
Value (AUD):
$2,145,159.50
(GST inclusive where applicable)
One-off/Ad hoc:
No
Aggregate Grant Award:
No
PBS Program Name:
DISR 22/23 Growing innovative & competitive bus, industries & regions
Grant Program:
Modern Manufacturing Initiative
Grant Activity:
Accelerating production of Australian fucoidan for therapeutic applications
Purpose:
Funding provided to Marinova under the Modern Manufacturing Initiative, provides a strategic investment in advanced manufacturing technologies resulting in a 300% increase to the manufacturing capacity of Australias only fucoidan extraction facility. Strategic investment in advanced manufacturing technologies will result in a 300% increase to the manufacturing capacity of Australias only
fucoidan extraction facility. The project will increase the production and export of high purity fucoidan compounds for use in complementary medicines, medical devices and pharmaceutical research; expedite the launch of two new proprietary fucoidan extracts and accelerate the development and commercialisation of a further two pharmaceutical-grade compounds for use in dermatological and medical device applications; reduce reliance on international supply chains and mitigate future supply shocks; increase Marinovas workforce by 40%, and create 108 new indirect Australian jobs.
GO ID:
GO Title:
Modern Manufacturing Initiative – Manufacturing Translation Stream – Medical Products Priority – Round 2
Internal Reference ID:
MTMPII000059
Selection Process:
Open Competitive
Confidentiality - Contract:
No
Confidentiality - Outputs:
No
Grant Recipient Details
Recipient Name:
MARINOVA PTY LTD
Recipient ABN:
17 103 342 801
Grant Recipient Location
Suburb:
CAMBRIDGE
Town/City:
CAMBRIDGE
Postcode:
7170
State/Territory:
TAS
Country:
AUSTRALIA
Grant Delivery Location
State/Territory:
TAS
Postcode:
7170
Country:
AUSTRALIA