Sleep apnoea devices manufacturer Oventus Medical has listed on the Australian Securities Exchange (ASX) after raising AU$12 million.
In partnership with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Oventus has been developing for the last two-and-a-half years the O2Vent, a customisable, 3D-printed titanium mouthguard designed ensure optimal airflow, while reduce the effects of snoring for sleep apnoea sufferers.
The initial prototype of the O2Vent, which completed successful clinical trials, was 3D-printed using CSIRO's 3D printing facility, Lab22.
"This allowed us to explore new and innovative manufacturing techniques with a reduced investment risk," Oventus founder Dr Chris Hart said.
"Using 3D-printing to manufacture the O2Vent sleep apnoea devices offered us huge advantages over traditional manufacturing methods including speed and cost.
"This partnership has made us globally competitive."
The Brisbane-based company said the raised capital will be used to commercialise and distribute its O2Vent device, which received Food and Drug Administration approval in the United States in April this year.
Lab22 was previously responsible for helping Melbourne-based medical device company Anatomics 3D-print a titanium sternum and rib impact for a 54-year-old Spanish man.
The patient needed his sternum and a portion of his rib cage replaced due to a chest wall sarcoma, a type of tumour that grows in and around the rib cage. The CSIRO said at the time the patient's surgical team knew the surgery would be difficult due to the complicated geometries involved in the chest cavity, and decided the customisable 3D-printed sternum and rib cage was the best option.
Once the prosthesis was complete it was sent to Spain and implanted into the patient. According to the CSIRO, 12 days after the surgery the patient was discharged and recovered well.
Last September, the Australian Department for Industry and Science in partnership with IP Australia released a toolkit for collaboration, intended for use by businesses, in particular small to medium enterprises (SMEs), public funded organisations, and individual researchers intending to undertake collaborative ventures.
The toolkit collaboration outlined practices on how to increase the effectiveness of collaboration, strengthen relationships for ongoing collaboration, and tackle intellectual property.