Joint media release with the Minister for Health and Aged Care the Hon Greg Hunt MP
The Morrison Government is securing the development of life-saving cancer drugs right here at home, while supporting new local jobs in Australia’s innovative, world-leading medical sector.
Under the Collaboration Stream of the $1.3 billion Modern Manufacturing Initiative, the Government has today announced up to $61.2 million for the Australian Genomic Cancer Medical Centre’s Project PrOSPeCT – the Precision Oncology Screening Platform enabling Clinical Trials.
The $185 million project will establish Australia as a hub for cancer drug development, helping to future proof our health care system and make it globally competitive.
By collaborating to provide genomic screening through national adult and paediatric oncology networks, the project will then consolidate clinical and patient data to drive the research and development of drugs for Australians suffering from advanced cancers.
This national ecosystem and the platform that is created will assist in delivering clinical trials of precision medicine and customised treatments.
Minister for Industry, Energy and Emissions Reduction Angus Taylor said this project will help bolster Australia’s clinical trial capabilities.
“Cutting-edge medical treatments such as genomics not only have the power to change lives, they also have the opportunity to transform the medical products sector for Australia. Precision medicine will be a critical part of health care delivery over the next decade,” Minister Taylor said.
“This project will help future-proof our health care, specifically for cancer treatment. Combining research and development, clinical trial networks and the manufacture of cancer drugs locally offers early access to potentially lifesaving treatments to Australian patients.
“These projects will also create highly-skilled jobs in the medical sector while reducing our reliance on overseas suppliers of vital medications.
“The Morrison Government is continuing to back medical manufacturing sector. Today’s announcement investing in leading-edge genomic treatments follows our deal with Moderna to come to Australia and build the first ever manufacturing facility in the southern hemisphere.”
Minister for Health and Aged Care Greg Hunt said the Government is committed to backing innovation and technology to improve the lives of Australians.
“Australia has a tremendous reputation for our medical research and this project will help us consolidate patient data to translate those breakthroughs into genomic cancer medicines right here at home,” Minister Hunt said.
“This funding builds on the Government’s unprecedented support to health and medical research, including to improve cancer outcomes for all Australians.”
The project is expected to create over 200 highly skilled jobs, which will grow by 20 each year.
