Singapore, June 20 -- Australia's MTPConnect has announced that it is injecting $12.07 million to back 14 homegrown life science companies developing new medical devices and drugs that aim to reduce the burden of cardiovascular disease and complications of diabetes (type 1 and type 2) for patients, carers, families and communities.

The funding comes from MTPConnect's Targeted Translation Research Accelerator (TTRA) Drugs and Devices program, an initiative of the Medical Research Future Fund.

The announcement was made in parallel at the BIO International Convention in Boston, one of the world's biggest biotech events bringing together sector leaders from Australia and around the world.

MTPConnect CEO Stuart Dignam said this funding inje...