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A nasal spray with the potential to fight Covid-19 and other respiratory viral infections will be tested in hopes of producing it in Australia.
The INNA-051 nasal treatment, developed by the Australian biotech company Ena Respiratory, targets the primary site of most respiratory infections, including Covid, and activates immune defense mechanisms in the respiratory tract.
The technology could help fight coronavirus and other infections such as the flu and the common cold.
The federal government announced Sunday that with a private company, Brandon Capital Partners, it would provide $ 11.7 million to pay for tests as part of the biomedical translation fund.
If the tests are successful, the product will be manufactured in Australia.
Other projects to benefit from the fund target conditions including autoimmune diseases and neurological conditions.
Elsewhere, new funded technologies aim to help patients remember to take their medications and administer them to the eyes in a way that avoids problems when using the drops.
Sunday’s announcements total nearly $ 30 million. The fund’s total pool is $ 500 million.
Under the program, private partners and the federal government provide equal funding. Private sector partners are BioScience Managers, OneVentures Healthcare Fund and Brandon Capital Partners.
Federal Health Minister Greg Hunt said the investments “will continue Australia’s proud tradition of discovery and translation that saves lives and improves lives.”
It meant that companies could take their technologies to the next level.
The government wanted to develop manufacturing capacity for medical products, industry, science and technology, said Minister Karen Andrews.
“This fund is another way we can help market great Australian ideas right here at home,” he said.
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