SpeeDx has significantly contributed to the success and development of the Australian MedTech industry. The CSIRO’s Medical Technologies and Pharmaceutical Roadmap, released in April, identifies Australia as being responsible for 3 per cent of the world’s biomedical research. Our MedTech sector also contributed $1.5 billion gross value to the economy in 2015, and employed 10,000 people in 500 companies.
Dr Alison Todd, Chief Scientific Officer and founder of SpeeDx speaks to the three key elements that led to the company’s success. “Firstly, you need differentiating technology that provides tangible advantages for laboratories and clinics. Our PlexPCR greatly increases the number of clinical markers detectable in a single test, and this has allowed SpeeDx to develop products which simultaneously identify infectious bacteria and determine antibiotic resistance.
“Secondly, the tests need to be broadly and urgently required, and to improve the lives of individuals,” she says. The third: “Significant capital and time to navigate the myriad of steps from technology invention, through test development, analytical and clinical validation, regulatory sanction and manufacture before any company can distribute its products.”
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