Thursday, 25 July 2024


Australia invests $20 M to explore use of AI for treating brain disorders

02 July 2024 | News

Commercialising AI to unlock the mystery of multiple sclerosis, dementia

image credit- shutterstock

image credit- shutterstock

The Australian Government is investing $20 million to commercialise digital health research, taking it from the lab and putting it in the hands of patients and their health team, like using artificial intelligence (AI) to unlock the secrets of neurological disorders like multiple sclerosis and dementia.

Working with one of the world’s largest imaging providers, the Sydney Neuroimaging Analysis Centre (SNAC) is using artificial intelligence to better monitor brain disease. iQ-Solutions is SNAC’s flagship product which provides precise analysis of the brain through MRI imaging. It will give doctors a real-time view of any changes that can then be managed more readily.
 
It is challenging to turn a scientific discovery into a medical product that’s ready for clinical use. This is the case for many digital health technologies – like iQ-Solutions – which have the potential to transform the health system. SNAC is one of six companies with promising digital solutions that will share in $3.75 million in funding from the Albanese Government as part of a programme run by ANDHealth+.
 
ANDHealth+ works with small to medium companies through the early-stage development of technologies with commercial potential. To realise the potential of Australia’s world-class digital health research, ANDHealth+ received $19.75 million through the Medical Research Future Fund’s (MRFF) Medical Research Commercialisation initiative.
 
Each company is awarded a share of $3.75 million in equity-free funding, alongside hands-on support by a network of experts to help them to scale their businesses.
 

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