New $2B Breakthrough Victoria Funding a Boost for Medical Research Translation
November 25, 2020
BioCurate, an independently operated joint venture between the University of Melbourne and Monash University, and with support of the Victorian State Government, has welcomed the new $2 billion Breakthrough Victoria Fund announced as part of the State Government’s Victorian Budget 2020/21, aimed at driving investment in research, innovation, translation and commercialisation for the next great breakthroughs over the next 10 years.
The investment will support medical research projects delivered in partnership with knowledge institutes and industry stakeholders, anchored at key innovation and employment precincts, including the Monash Precinct, and Parkville’s Biomedical Precinct, where BioCurate is based.
The Breakthrough Victoria Fund will include the introduction of a new long-term investment strategy, underpinned by a partnership between industry, research, philanthropic and finance sectors.
The funding will not only play to Victoria’s strengths in the health and life-science industry, but also help support R&D adoption and commercialisation by supporting 15,700 jobs over the next decade.
BioCurate is particularly pleased given that the Breakthrough Victoria Fund was proposed by the Chairman of BioCurate and previous Premier, the Hon. John Brumby AO in a piece published a month ago. In the piece, he advocated investment in Victoria’s knowledge economy to capitalise on the outstanding medical research with the goal to achieve clinical impact and successful commercial outcomes.
Dr Glenn Begley, CEO of BioCurate noted this was a fantastic and visionary initiative that will yield rewards for future generations. The billion dollars commitment was a vote of confidence in Victoria’s world-class biotech sector, highlighting the important role research commercialisation plays in our State’s economic recovery.
“Victoria is home to our country’s best researchers and innovators. We have a vibrant biotechnology commercial sector and well-established R&D infrastructure, making our state a highly sought-after destination by global companies. We would like to thank and congratulate the Victorian Government for their vision and recognition of the biotech sector through the Breakthrough Victoria Fund, which will help advance Australian research and innovation globally,” said Begley.
BioCurate was specifically created to invest in, manage and commercialise innovative Australian medical research. We provide a critical bridge between academia and industry by identifying promising research and accelerating its development for real-world clinical impact, while ensuring scientific and commercial rigour. Our multi-disciplinary team has an extensive global network and a proven track record in producing commercially successful therapies, positioning BioCurate well to drive the most feasible commercial pathway forward and improve people’s lives.
Edelman for BioCurate
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