The Biomedical Translation Fund (BTF) is to be funded with $250 million over financial years 2015/16 and 2016/17, diverted from contributions originally earmarked for the MRFF.
The BTF will use existing commercial Fund Managers for co-investment on a 50/50 basis, with the investment managers to source the other co-investors. Continue reading “$500 million fund will help build Australia’s biomedical industry of the future”
Media Release: Wednesday 3 August 2016
The Biomedical Translation Fund is one of Australia’s best hopes to bridge the “Valley of Death” between medical research and commercialisation or clinical practice.
The Federal Minister for Industry, Innovation and Science, Greg Hunt, today announced that the founder of Research Australia, Peter Wills AC, will chair the new Biomedical Translation Fund.
“Peter Wills AC is a great choice to champion the multi-million dollar Biomedical Translation Fund,” said CEO of Research Australia, Nadia Levin.
Media Release: Wednesday 4 May 2016
Research Australia, which represents 160 health and medical research organisations, has described last night’s budget as mixed bag – with some wins, some losses and some more detail required.
“The Federal Government is making all of the right noises when it comes to innovation, health and research, and it is pleasing that they remain on the agenda,” said CEO Nadia Levin.
“The budget would be described by my members as a combination of ‘treatments, placebos and nocebos’, and the challenge for government is to back it up with funding.”
The following are some of the key announcements in the 2016-17 Budget which affect health and medical research. Information has been drawn from the budget papers, including portfolio and agency statements. The Budget papers are available here.
The Budget has confirmed the Government’s continued commitment to the MRFF. However, it is now expected to meet the $20 billion target in 2020-21, a year later than first projected in the Budget in 2014 (Note 1). 2019-20 was confirmed as the target date for full capitalisation of the MRFF as recently as December last year, in the NISA Fact Sheet on the Biomedical Translation Fund (Note 2).
Continue reading “The 2016-17 Budget: Health and Medical Research”
