Radiopharmaceuticals for cancer diagnosis & therapy
Cyclowest
$2.57m from the Federal Government’s flagship manufacturing program will help Cyclowest fast-track production of next generation cancer treatments.
The Client
Cyclowest was in the planning stages of a new advanced manufacturing facility in Perth to produce imaging agents for cancer diagnosis.
The company saw an opportunity to fast-track product expansion of the facility’s capabilities to include cutting-edge research and clinical radioisotopes. Cyclowest was looking for a non-dilutive funding source to supplement the initial investment capital to help achieve this.
The Solution
Through an association with Cyclowest, Intellect Labs brought to Cyclowest’s attention the opportunity of the Federal Government’s Modern Manufacturing Initiative (MMI) grant as a good fit for the project.
Cyclowest engaged us to help prepare the funding bid. This included producing detailed project plans, risk management plans, project budgets and leveraging our team’s experience in advocating projects against merit assessment criteria.
The Result
Cyclowest’s application was successful, and the company received $2.57m in direct, non-dilutive funding. The grant was one of only two Integration Stream grants provided to Medical Products companies in the round.
The project will result in cutting-edge clinical diagnostic capabilities and new cancer treatments to be brought to market years earlier than the existing Australian infrastructure would have allowed.
