ANNOUNCEMENT
The National Foundation for Medical Research and Innovation (NFMRI) today released its Impact Analysis Report covering grants awarded during 2013-2019. NFMRI’s funding aims to advance research across the ‘valley of death’ and secure next-step funding to help deliver community health outcomes. Analysing results from grants awarded following the introduction of this strategy, the report found that:
• 62% of projects supported by NFMRI attained next-step partners
• Five projects are in active clinical trials and one project is already delivering benefits to cancer patients
• Financial return on investment of more than 10:1 for next-step funding – representing a leverage of over $45 million
“Success of our strategic support relies on enabling targeted access to external capability and capacity,” says NFMRI CEO, Dr Noel Chambers. “Without others supporting fundamental blue-sky research and other activities, there would be nothing entering our pipeline to help translate.”
Dr Chambers adds “Evidence demonstrates that NFMRI’s strategy is reproducible with 16 projects securing next-step partner support and over $45 million of leveraged funding. These projects include various health indications, technologies and innovation types such as vaccines, diagnostics, devices, tools, drugs etc.”
A number of research projects are ongoing and expected to add to these results, but it was important to have a clear start and end date for purposes relating to this analysis. NFMRI focussed on grants that were awarded following the introduction of the strategy in late 2013 up until 2019.
NFMRI’s strategic success includes helping innovations advance to:
• Attract next-step partners, including industry and venture capital
• Become clinical trial ready
• Leverage the funding, expertise and experience of next-step partners
Dr Chambers thanked NFMRI’s funding partners for enabling the Foundation to scale its support and impact. NFMRI partners include the NSW Department of Primary Industries, Equity Trustees (including The Mason Foundation, The NSW Community Foundation, The Vernon Sinclair Fund, and The Nicholas and Phyllis Pinter Trust), the State Trustees Australia Foundation, as well as the Cure4 Cystic Fibrosis Foundation.
Dr Chambers emphasised that “support from our partners enables us to advance research and innovations towards potential future treatments and options for those in need that would otherwise wither-on-the-vine. Together we are excited to be able to provide funding to advance some of Australia’s most promising innovations.” [ENDS]
About NFMRI
Founded in 1977, NFMRI’s primary objective is to support innovative areas of research to help benefit mankind through the prevention or eradication of diseases. By focusing on advancing innovations and enabling collaborations, the Foundation aims to address the critical gaps that prevent industry uptake to bring diagnostics, devices, vaccines, tools and medicines into the hands of those in need in the community. The Foundation seeks to partner with researchers and donors to identify, evaluate and support innovative quality research projects with identified impact objectives. NFMRI’s culture is one where we look to make a social investment in medical research. By partnering with funders and researchers to provide support and knowledge, we aim to maximise the social returns from our grants.
About NFMRI Partnerships
Founded in 1977 and with DGR1/TCC status, NFMRI has established a partnering program assisting other funders of medical research to achieve better outcomes. NFMRI partners with other funders, applying its strategy, systems, networks and expertise to achieve common goals. With our specific expertise, capability and capacity, we are able to partner with other like-minded funders to support medical research that leads to the advancement and translation of discoveries and innovations. Contact us to learn more about how we can work together.