PolyActiva Pty Ltd, formed as a joint venture between CSIRO and the Bionic Ear Institute, became operationally independent in January 2011. The company focuses on the development of drug-polymer conjugates that enable site specific drug delivery from medical device components, such as implants, films or fibres.In July 2019, the company had closed an AU$10 million(US$7 million) capital raised.In February 2013, the company raised AUD $9.2 Million (US $ 9,522,460) from a series B financing round.By July 2011, the company had received AUD $2.4 million (US $2.58 million) from the Medical Research Commercialisation Fund