Next Phase Newsletter

Interview with Anthony Ryan, CEO of Brisbane Economic Development Agency (BEDA) By Caitlin Dolegowski, Marketing Manager, LSN

Anthony Ryan

Caitlin Dolegowski

Anthony Ryan, CEO of the Brisbane Economic Development Agency (BEDA), shares how Brisbane is emerging as a global hub for MedTech innovation. From groundbreaking technologies like needle-free vaccines to cutting-edge immunology treatments, Brisbane’s MedTech ecosystem is thriving. In this interview, Ryan discusses BEDA’s mission to foster sustainable economic growth, the city’s unique strengths in healthcare innovation, and how initiatives like the Innovator’s Pitch Challenge at RESI JPM are connecting local talent with global opportunities.

Caitlin Dolegowski (CD): Can you share an overview of BEDA’s mission and its role in advancing Brisbane’s MedTech sector?

Anthony Ryan (AR): At BEDA, our mission is clear: driving sustainable economic growth for Brisbane.

Brisbane is at a transformative moment in its history, with the economy forecasted to grow by a remarkable 68% by 2041. As the city’s key driver of investment, our focus extends beyond numbers — we aim to make Brisbane an even better place to live, work, and thrive.

One of the cornerstone industries fuelling this growth is health, specifically the first and best in class MedTech innovations. We’re dedicated to the commercialization of local innovations, that will position Brisbane as a global leading ecosystem.

Together, we’re building a brighter future for our city and its people.

CD: What makes Brisbane a hub for MedTech innovation, and how does BEDA help foster this ecosystem?

AR: Brisbane has a proud history of MedTech innovation, from Gardasil, the world’s first cancer vaccine, to VAXXAS’ needle-free vaccine technology. If you have a bold idea in MedTech, Brisbane is the place to make it happens.

The city offers cutting-edge infrastructure, top-tier talent, and endless growth opportunities. Home to the largest health ecosystem in the Southern Hemisphere, healthcare is Brisbane’s biggest employer and is project to grow by 36% by 2031. A big part of that growth is being fuelled by successful early-stage MedTech companies making their mark on the global stage.

Our city attracts the brightest research minds from around the globe, while local universities create a steady pipeline of skilled talent for the industry. Add to this Brisbane’s enviable lifestyle, and you have a unique innovation hub that’s drawing more people and ideas each year.

Through BEDA’s MedTech Initiative, we advance their life-changing innovations by connecting them with international investors, licensing partners, and distribution networks, ensuring Brisbane breakthroughs make a global impact.

CD: You’re bringing nine companies to participate in the Innovator’s Pitch Challenge at RESI JPM. What inspired this initiative, and what do you hope these companies will gain from the experience?

AR: Tapping into the global $200 billion life sciences market to attract investment is a game-changer for MedTech businesses – but navigating it can feel overwhelming.

That’s where BEDA comes in. We help businesses fast-track connections with international partners and stakeholders, opening doors for collaboration, investment and distribution opportunities.

Brisbane’s MedTech companies have been making waves on the global stage, with standout podium finishes at RESI’s Innovator’s Pitch Challenge over the past few years. These successes highlight why Brisbane is a leading ecosystem within Australia.

We’re excited to provide deal flow opportunities for international investors to connect to promising “first in class” advancements, with an end goal of global patient impact.

CD: How do you select the companies that represent Brisbane at events like RESI JPM? Are there specific qualities or innovations you are looking for?

AR: When selecting companies to represent Brisbane at events like RESI JPM, it’s all about showcasing the best innovation and business models within devices, diagnostics, drugs and digital.

BEDA is backing winners who are investment ready. In addition to first and or best in class innovation, the companies selected have raised seed capital, have Proof of Concept (POC) and a secure IP position.

This includes early-stage innovators working on surgical robotics and advancing arthroscopy, AI-powered clinical trial hubs, novel IV catheter tip technology to reduce failure rates and cutting-edge immunology treatments. It also includes global leaders like VAXXAS, who are commercializing a novel needle-free vaccination technology that dramatically enhances the performance of existing and next-generation vaccines, and BiVACOR, a renowned clinical-stage medical device company developing a total artificial heart.

Our goal is to advance the full spectrum of Brisbane’s MedTech innovation and talent, from rising startups to established trailblazers.

CD: What unique strengths or innovations from Brisbane-based MedTech companies do you believe will resonate most with the global audience at RESI JPM?

AR: This year’s Brisbane MedTech cohort is truly dynamic, showcasing innovations that will stand out at RESI JPM.

Smilo Health is leveraging AI and data analytics to revolutionize personalised care and patient management, which highlights the shift toward digital health and precision medicine.

Kimaritec is making waves by identifying small molecules to target cancer proteins, while Cardihab is transforming cardiac rehab and chronic disease management with its digital platform, making healthcare more accessible.

Flomatrix and Exintech, are advancing medical devices—from IV catheter tips that reduce failure rates to facemasks that use an electrical current to eliminate viruses.

On the therapeutic front, Macrobiome Therapeutics and Servatus are tackling autoimmune and gastrointestinal conditions, with Macrobiome’s groundbreaking treatments using hookworm proteins.

This impressive group is shaping the future of healthcare, improving patient outcomes and making healthcare more accessible worldwide.

CD: Can you share any success stories from past collaborations or pitch challenges where BEDA-supported companies have achieved significant milestones as a result of participating in RESI?

AR: This is the third year of our collaboration with LSN, and the RESI pitch challenges have delivered some truly exciting results.

One great example is Convergence Medical. They are revolutionizing chronic pain treatment with innovative solutions for spinal cord injuries and neurological conditions – recently joining the prestigious FDA Breakthrough Devices Program, further cementing their role as leaders in medical innovation.

Another is Microbio, a company that has developed a test to identify pathogens that cause sepsis. Since their visit to JP Morgan Health Week in 2023, they have received regulatory clearance in India, are preparing a pre-market submission to the FDA and are looking to close their Series B round.

De Motu Cordis developed a needle-free epinephrine smart inhaler for the treatment of anaphylaxis, which has since expanded to a platform technology that can be applied across multiple emergency medicine products, including military applications.

CD: What strategies does BEDA employ to connect Brisbane’s MedTech companies with international investors and collaborators?

AR: At BEDA, we connect Brisbane’s MedTech companies with global investors and collaborators through tailored investment missions, strategic introductions, and valuable collaboration opportunities.

We leverage in-market expertise, such as our strategic partnership with LSN, to fast-track connections and elevate Brisbane’s MedTech sector on the global stage.

Through strong partnerships and a liaison point across all levels of government, including Trade and Investment Queensland and Austrade, we provide local companies with the resources and support they need to scale internationally.

CD: How do you envision Brisbane’s MedTech sector evolving over the next few years, and what role do events like RESI JPM play in that growth?

AR: Brisbane’s MedTech sector is set for some serious growth, fuelled by $11 billion in new health infrastructure projects and a strong culture of collaboration across the city.

More and more international companies are choosing Brisbane for their headquarters or operational facilities, which will see the city, continue to grow and mature as globally recognised ecosystem for healthcare innovation. BEDA will continue to support these international companies with full market entry support.

Investor Forums like JPM and investor conferences like RESI will continue to play a huge role in providing platforms to attract the required global capital for commercialization. We’re excited to promote and advance the local companies who are driving positive change in healthcare worldwide.

By Greg Mannix, VP, EMEA Business Development, LSN

Editor’s note: The below article is a digest of published expert analyst commentary rather than original content.

According to analysts, RFK Jr’s nomination to head HHS may have introduced a level of uncertainty when it comes to the future of biotech and pharma investment, especially in the areas of vaccines and infectious disease. After his appointment, pharma stocks, especially those of vaccine makers, dropped. Regulatory uncertainty is generally not ideal for the industry. For example, Moderna tried to reassure investors by asserting that according to legislation, the secretary’s role is management, not policy. We may see an RFK who focuses on diet and obesity prevention and leaves regulatory matters for the FDA commissioner (Trump nominated Marty Makary, MD). On the other hand, if HHS, FDA, CDC (for which Trump nominated Dave Weldon, MD) and NIH (for which Trump nominated Jay Bhattacharya, MD, PhD) see a departure of resources with scientific expertise, the resulting uncertainty could have a dampening effect on investment, especially at the venture stages. However, reducing FDA funding may face hurdles due to nearly half the agency’s budget being funded by user fees rather than federal funds.

RFK Jr has expressed skepticism of the transparency of the safety data behind COVID vaccines as well as vaccines for measles and polio. However, his primary complaint has been mandates rather than regulatory process; He has also expressed sentiment toward GLP-1s, highlighting that these drugs address symptoms rather than food system issues. This has resulted in some industry analysts expressing concern about the confidence of investors who fund vaccines or infectious disease therapies.

NIH funding is also a concern to biotech investors. RFK Jr previously stated that he would reduce NIH staff by 600 – 20,000 employees on his first day on office, potentially shrinking an organization that spends $50B on research, either directly, through monetary grants or through partnerships. Watch our video with the NIH, where they explain funding and partnering options beyond SBIR. Given the reliance life science startups have on NIH funding and partnerships, an RFK Jr effect on startup investment dollars could be most influenced in the short term by potential changes at the NIH. RFK Jr also said that he wants the NIH to take an 8-year break from researching infectious disease, presumably to focus on chronic diseases. He has also stated in the Wall Street Journal that half of NIH’s budget should be dedicated to research on preventative, alternative and holisitic medicine. Notwithstanding the above, the first Trump administration recommended cuts in federal spending on research too, but the NIH saw its budget increase 30% between 2016 and 2020.

Finally, RFK Jr has indicated that he wants DTC pharmaceutical advertising to cease. Analysts have estimated returns on DTC advertising to be 100% to 500%, and some have indicated that such a ban would reduce pharmaceutical revenue.

All that said, many analysts and government experts have indicated that they do not believe RFK Jr. will end up making seismic shifts in the above areas, due to congressional oversight, industry pressure or precedent during the first Trump administration. Perhaps more important will be Makary’s moves as FDA commissioner and Bhattacharya’s actions as head of the NIH. The one thing we can be sure of is the first quarter of 2025 will certainly be carefully watched by the biotech investors.