Yes, just checked on their website and you are guaranteed if your school is underrepresented and a part of KWL program. There is also a case study on the issue
Example 1: Young Scholar who attends under-represented school
Greg attends a school that is on the University's under-represented school list. As such, to take advantage of this policy Greg needs to achieve an ATAR greater than or equal to 90 and meet all of the prerequisites for the New Generation course he wishes to study (as outlined at Course Search).
He selects Commerce as his first University of Melbourne preference on VTAC. Greg achieves an ATAR of 93.50 and meets all of the prerequisites for the course.
Because he is a Kwong Lee Dow Young Scholar, Greg would know at the time that ATARs are released (mid December) that his place in the Commerce course is secure, regardless of what the Clearly-In Rank ends up being. Greg would receive a formal letter of offer into the course in Round 1 of University offers (January).
In mid-late February, Greg would receive an official invite to participate in the Kwong Lee Dow First Year Program. Greg begins studies as a University student in March.
... However it states that there is a quota for biomedicine