The major federal government investment, The Biopharmaceutical Innovation Partnership, will have its headquarters in Melbourne and brings together some of the most significant names in the pharmaceutical industry including GlaxoSmithKline, AstraZeneca and CSL, in partnership with Monash University.
By bringing together Monash University’s world-leading drug delivery, formulation development and industrialisation expertise and industry’s manufacturing and operational capabilities, the collaboration will translate cutting-edge science and technology into next-generation pharmaceutical products destined for the national and international market.
Flow-on benefits of the collaboration include employment opportunities and the generation of new scientific knowledge and drug development capabilities.
Director of MIPS, Professor Bill Charman, said the collaboration leverages the unique skills in pharmaceutical science and technology within Monash with the world-class medicine development capabilities of major industry partners.
“This collaboration is an exciting and significant strategic step for Monash, and builds upon our rich history of long-term, broad-based collaboration with industry,” Professor Charman said.
Senator Carr said the biopharmaceutical industry was one of Australia’s most important high-value, high-technology export industries.
“This sector employs over 40,000 Australians in high skill, high wage jobs. It invests over $1 billion a year in local research and development, and is one of the largest employers of science graduates in Australia,” Senator Carr said.
“Exports from the medicines and pharmaceuticals industry are worth more than cars and wine. In 2013 exports reached almost $4 billion.”
The Biopharmaceutical Innovation Partnership will have future centres in Sydney and Brisbane.
Senator Carr and the Labor Government will commit up to $6 million to establish The Biopharmaceutical Innovation Partnership, to be matched with co-investment from partner organisations.
The Partnership will have access to further project funding of up to $10 million per year through the Industry Collaboration Fund for innovative projects with commercial potential.