Boosting critical imaging research capabilities into new drugs and medical treatment is at the heart of a multi-million dollar funding boost to leading research institution Monash University.
Minister for Higher Education Gayle Tierney today visited the Olivia Newton-John Cancer Research Institute to announce a more than $14.8 million investment from the Victorian Higher Education State Investment Fund (VHESIF) this round, $5.2 million of which is allocated to Monash University.
The $11.73 million of the total funding from this round will see the installation of specialist imaging equipment, enabling the development of improved diagnostic and therapeutic nuclear medicine imaging techniques in a wide range of preclinical studies and neurodegenerative diseases.
Monash University is one of five Victorian research facilities in both medical and agricultural research in Victoria, via the Victorian Biomedical Imaging Capability in partnership with the National Imaging Facility, to receive the funding.
With the funding Monash will build a cyclotron, part of a precision radiopharmaceutical research and innovation facility to be established in close proximity to the Victorian Heart Hospital in the Monash Technology Precinct.
This funding will form part of Monash and partner contributions towards the project.
Professor Rebekah Brown, Deputy Vice-Chancellor (Research) and Senior Vice-President said this was a significant investment in the Victorian Biomedical Imaging Capability.
“We thank the State Government for this significant investment in world-leading imaging infrastructure spanning across the Victorian Biomedical Imaging Capability,”Professor Brown said.
“Monash has substantial research infrastructure which underpins more than $950M in research. This funding will support cutting-edge nuclear medicine imaging techniques that can be used to develop new treatments for a wide range of diseases and illnesses.”
The facility will provide a production source of radiopharmaceutical materials for the research and development of novel therapies for cancer, kidney disease and other illnesses.
Monash University-led projects have received a total of $82 million through VHESIF, which is contributing to the expansion of critical research infrastructure and capability, the improvement of educational outcomes and the strengthening of industry connections.
