SpeeDx Awarded A$2.5 million by NSW Medical Devices Fund
SpeeDx Pty. Ltd. are among the recipients of the New South Wales Medical Devices Fund (MDF) 2017-2018, announced last night. SpeeDx was granted a second MDF award of A$2.5 million to support the continued roll-out of diagnostic tests for infectious diseases and antibiotic resistance.
“We are really appreciative of the NSW MDF funding as it allows us the scope to achieve some key milestones,” said Colin Denver, CEO. “Accessing the U.S. market and bringing our pipeline of antibiotic resistance focused products to regulatory approval are important to the overall success of our business.”
SpeeDx products focus on sexually transmitted infections (STIs) and other infectious disease panels using proprietary technology enabling complex diagnostic information to be obtained from a single, cost-effective test. In 2016, SpeeDx launched ResistancePlusTM MG, the first commercially available test combining detection for an emerging STI Mycoplasma genitalium and detection of genetic markers linked to antibiotic resistance.
Since winning the grant in 2014, SpeeDx have doubled in size, opened a new production facility, and successfully achieved sales of their market-leading ResistancePlusTM MG test in 6 countries world-wide. The 2017 funds will support continued growth of the Sydney-based design and manufacturing facilities, along with increased global sales, including bringing ResistancePlusTM MG to the US market.