<-  All press releases
Press release

Diag-Nose.io Secures $50,000 Grant to Revolutionise Respiratory Care

August 19, 2024

MELBOURNE, Australia, 19th August 2024 - Diag-Nose.io, an Australian healthtech trailblazer that’s on a mission to improve a billion lives globally, has been awarded $50,000 matched funding from the Victorian Government’s Medtech Market Growth Program. This boost will accelerate the commercialisation of their innovative AI-enabled diagnostic tools for chronic nasal and airway disorders.

"We're thrilled to receive this funding, which fast-tracks our mission to bring cutting-edge technology to market that will revolutionise the way clinicians diagnose and treat chronic respiratory illnesses and importantly, enhance patient care and recovery," said Eldin Rostom, CEO and Co-Founder of Diag-Nose.io.

Diag-Nose.io’s flagship product, RhinoMAP, uses proprietary protein chemistry and AI to map out biological subtypes of chronic respiratory disorders. This enables faster, more precise treatment decisions, reducing costs and improving patient outcomes.

Over a third of Australians suffer from chronic respiratory conditions, including chronic sinusitis, asthma, and allergic rhinitis*.

Minister for Jobs and Industry Natalie Hutchins announced the $1 million MedTech Market Growth Program, supporting 20 medtech startups with matched funding to bring life-saving products to market. The program, a collaboration between the Australian Medtech Manufacturing Centre and LaunchVic, Victoria’s startup agency, aims to drive innovation, attract investment, and create new jobs in Victoria’s booming medtech sector.

“We’re thrilled to support Diag-Nose.io in their mission to build the future of respiratory care via matched funding from the Medtech Market Growth Program,” said LaunchVic CEO Dr Kate Cornick.  

“Victoria is renowned for its strengths in medtech, and this is reflected in our startup ecosystem, with close to 1 in 5 startups working in this space and the sector attracting the highest share of VC investment in 2023.”

‍

Medtech is one of the fastest growing sectors in Victoria’s economy, with 650 medtech companies employing approximately 6,000 people and generating $1.4 billion in value.

‍

-ENDS-

‍

REFERENCES

*Australian Government, Department of Health. Chronic respiratory conditions Chronic respiratory conditions, Summary - Australian Institute of Health and Welfare (aihw.gov.au)

‍

‍

____________________________________________________________________________

MEDIA CONTACT

For any questions in relation to this release or to discuss interviews, please contact:

Nicole Papoutsis

nicole@walkthiswaymarketing.com.au

0422 418 099

‍

About Diag-Nose.io

Founded in 2020 after a world-class team of otolaryngologists, bioengineers and entrepreneurs met at the Stanford Medicine EENT Innovation Program, Diag-Nose.io’s founders are on a mission to improve a billion lives globally by significantly improving current diagnostic processes for chronic airway and nasal disorders. Their best-in-class clinical decision support system utilises a unique combination of proprietary protein biomarkers and AI to deliver personalised treatment pathways for clinicians and patients and is currently undergoing clinical studies in both Australia and the United States.

‍

Find out more out Diag-Nose.io's Programs and Products

‍

About LaunchVic

LaunchVic is Victoria’s startup agency, established by the Victorian Government in March 2016 to fuel the growth of Victoria’s startup ecosystem. Its role is to build the capability and confidence of Victorians, so they have the skills to start, grow, invest in, or work for globally impactful tech startups.

About Australian Medtech Manufacturing Centre

The Australian Medtech Manufacturing Centre is committed to boosting Victoria’s medtech manufacturing capabilities, supporting local companies to scale and innovate, and contributing to the state’s economic growth.

MELBOURNE, Australia, 19th August 2024 - Diag-Nose.io, an Australian healthtech trailblazer that’s on a mission to improve a billion lives globally, has been awarded $50,000 matched funding from the Victorian Government’s Medtech Market Growth Program. This boost will accelerate the commercialisation of their innovative AI-enabled diagnostic tools for chronic nasal and airway disorders.

"We're thrilled to receive this funding, which fast-tracks our mission to bring cutting-edge technology to market that will revolutionise the way clinicians diagnose and treat chronic respiratory illnesses and importantly, enhance patient care and recovery," said Eldin Rostom, CEO and Co-Founder of Diag-Nose.io.

Diag-Nose.io’s flagship product, RhinoMAP, uses proprietary protein chemistry and AI to map out biological subtypes of chronic respiratory disorders. This enables faster, more precise treatment decisions, reducing costs and improving patient outcomes.

Over a third of Australians suffer from chronic respiratory conditions, including chronic sinusitis, asthma, and allergic rhinitis*.

Minister for Jobs and Industry Natalie Hutchins announced the $1 million MedTech Market Growth Program, supporting 20 medtech startups with matched funding to bring life-saving products to market. The program, a collaboration between the Australian Medtech Manufacturing Centre and LaunchVic, Victoria’s startup agency, aims to drive innovation, attract investment, and create new jobs in Victoria’s booming medtech sector.

“We’re thrilled to support Diag-Nose.io in their mission to build the future of respiratory care via matched funding from the Medtech Market Growth Program,” said LaunchVic CEO Dr Kate Cornick.  

“Victoria is renowned for its strengths in medtech, and this is reflected in our startup ecosystem, with close to 1 in 5 startups working in this space and the sector attracting the highest share of VC investment in 2023.”

‍

Medtech is one of the fastest growing sectors in Victoria’s economy, with 650 medtech companies employing approximately 6,000 people and generating $1.4 billion in value.

‍

-ENDS-

‍

REFERENCES

*Australian Government, Department of Health. Chronic respiratory conditions Chronic respiratory conditions, Summary - Australian Institute of Health and Welfare (aihw.gov.au)

‍

‍

____________________________________________________________________________

MEDIA CONTACT

For any questions in relation to this release or to discuss interviews, please contact:

Nicole Papoutsis

nicole@walkthiswaymarketing.com.au

0422 418 099

‍

About Diag-Nose.io

Founded in 2020 after a world-class team of otolaryngologists, bioengineers and entrepreneurs met at the Stanford Medicine EENT Innovation Program, Diag-Nose.io’s founders are on a mission to improve a billion lives globally by significantly improving current diagnostic processes for chronic airway and nasal disorders. Their best-in-class clinical decision support system utilises a unique combination of proprietary protein biomarkers and AI to deliver personalised treatment pathways for clinicians and patients and is currently undergoing clinical studies in both Australia and the United States.

‍

Find out more out Diag-Nose.io's Programs and Products

‍

About LaunchVic

LaunchVic is Victoria’s startup agency, established by the Victorian Government in March 2016 to fuel the growth of Victoria’s startup ecosystem. Its role is to build the capability and confidence of Victorians, so they have the skills to start, grow, invest in, or work for globally impactful tech startups.

About Australian Medtech Manufacturing Centre

The Australian Medtech Manufacturing Centre is committed to boosting Victoria’s medtech manufacturing capabilities, supporting local companies to scale and innovate, and contributing to the state’s economic growth.