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First BTF investment aims to improve lives through innovation

Saturday, May 27, 2017

The development of a promising new treatment for peanut allergy in children will be the first project to receive $10 million in funding from the Australian Government’s Biomedical Translation Fund (BTF).

The BTF combines $250 million of Commonwealth funding to be at least matched by private capital secured by independent licensed fund managers to realise a substantial $500 million fund.

The first investment from OneVentures Healthcare Fund III will provide $10 million to Prota Therapeutics to advance the development of a promising new treatment for peanut allergies in children.

The oral immunotherapy treatment is a world-first approach aimed at treating a range of food allergies. The first product is for the treatment of life threatening peanut allergy – a leading cause of death from food allergies.

Read the media release.

Find more information on the Biomedical Translation Fund.