Australian MedTech wins gongs at US global pitch challenge

Brisbane MedTech businesses Convergence Medical and Gelomics have taken out silver and bronze at an investor pitch challenge in San Francisco, impressing hundreds of seasoned investors from across the world.

Convergence Medical and Gelomics

Convergence Medical and Gelomics

Fifty global companies were selected to take part in the Innovator’s Pitch Challenge, a focal event of the Redefining Early-Stage Investment Conference (RESI) during the annual J.P. Morgan Healthcare Week, providing significant investor exposure for early-stage ventures seeking capital funding and strategic partners.

Both companies have delivered major medical breakthroughs, with Convergence Medical recently accepted into the US Food and Drug Administration’s (FDA) Breakthrough Devices Program for its world-first arthroscopic surgical robot, V01, and Gelomics growing human tissues in a petri dish as a superior alternative to animal testing in biomedical research.

Lord Mayor Adrian Schrinner said the accolades speak to Brisbane’s world-class healthcare innovation and research.

“We are thrilled that Brisbane’s MedTech ventures are being recognised in a competitive global market,’ Cr Schrinner said.

“Our city’s strengths in medical research, infrastructure, advanced manufacturing and talent are fuelling Brisbane’s position as a world-class hub for the future of healthcare.

“I look forward to following the success of Brisbane’s emerging MedTech businesses in driving advances to improve patient outcomes, build faster and more convenient healthcare systems across the world, and support local jobs in our city.”

Awarded silver, Convergence Medical has developed technology to advance arthroscopic (minimally invasive keyhole joint) surgery.

Convergence Medical CEO Dr Chris Jeffery said he was immensely proud to see Brisbane innovation recognised at a global level.

“Arthroscopic surgery is required to treat over 50 million injured wrists, elbows, shoulders, spines, hips, knees and ankles each year globally,” Dr Jeffery said.

“V01 intelligently integrates all the technology of the modern operating theatre into a novel system and completed simulated activities four times quicker and with 30 times increased precision than manual alternatives in early testing.

“One of my biggest learnings as a MedTech founder is that no company can grow without a supporting environment. Brisbane is a globally recognised innovation hub, and being part of the city’s Medtech community has created fantastic growth and investment opportunities for Convergence.

“From our first funding round to the support, we’ve received from industry and government at all levels, the local Brisbane business and higher education network has helped us to get out of the starting blocks and make the connections needed to nurture growth.”

Gelomics, awarded bronze, is offering a superior alternative to animal testing through growing artificial human tissues in a petri dish, providing a more efficient and cost-effective solution to this ethical issue.

Convergence Medical and Gelomics were two of nine early-stage MedTech businesses from Brisbane that attended the international conference, as part of Brisbane Economic Development Agency’s (BEDA) MedTech Global Accelerator program.

Other attending businesses as part of BEDA’s MedTech accelerator program included: Fovero Therapeutics, Infensa Bioscience, Liquid State t/a PEP Health, Medicsen, Queensland Brain Institute (UltraThera), Seipel Group and Vast Bioscience.

Scientist at Vaxxass Brisbane