NSW-based biomedical company TetraTherix has today signed a historic co-development agreement with Chinese pharmaceutical company Link Health, which will see advances in regenerative medicine that will benefit both NSW and China.
The two companies met during the 2019 NSW-Guangdong Joint Economic Meeting (JEM) and the agreement is one of the most significant trade and commercial outcomes from the meeting.
NSW Treasury’s Executive Director, Trade Kylie Bell said China was Australia’s largest export market and was the second largest healthcare and medical device market in the world.
“Helping NSW businesses succeed in the global marketplace is critical as we recover from the economic impact of COVID-19,” Ms Bell said.
“NSW boasts some of the most cutting-edge medical technology in the world, and it is exciting to see technology researched and developed locally, promoted globally.”
TetraTherix is a start-up based in Alexandria NSW. They have been supported by NSW Health’s Medical Devices Fund in 2018, and NSW Health’s Medical Device Commercialisation Training Program, which was delivered in partnership with Cicada Innovations. Their injectable technology repairs bone, cartilage and connective tissues, and is patented globally including in Australia, the United States and Europe.
TetraTherix co-founder Dr Ali Fathi said the collaboration would present new opportunities to both NSW and China.
“This partnership will facilitate technology exports to the great market of China while also advancing Australian’s manufacturing and healthcare sectors,” Dr Fathi said.
“We believe this partnership will lead to many new joint advancements in regenerative medicine to help patients in China, Australia and round the globe.”
TetraTherix has developed TetraMatrix, a new type of regenerative scaffold that is fully synthetic, biocompatible and resorbable.
The NSW Government is committed to supporting home-grown businesses succeed on the world stage and has provided $12 million of support through the Going Global package, launched in August this year.
Eligible businesses looking to expand export operations or start exporting for the first time can apply for an up to $10,000 Export Assistance Grant as part of the package.