It takes more than good science to maximise the potential for community benefits to be realised from medical research. Many complimentary skills sets including, science, quality assurance, project management, finance, clinical medicine and commercialisation to name a few are required.
At NFMRI, we are focussed on advancing innovation by enabling collaborations that provide access to skills, resources and activities that would otherwise be difficult or impossible for scientists to access.
With the announcement of the new $20 billion future fund for medical research, there is an opportunity for the government to explore funding models that are truly strategic, focused on delivering impact and ensuring the viability and sustainability of the medical research sector.
Product Development Partnerships (PDPs) are an example where philanthropy, governments and private sector players have come together to share the cost, manage the risk and ensure there are governance and review frameworks in place, including benchmarks and milestones.
The model of PDPs has been particularly successful in the areas of neglected diseases such as TB and malaria, where Australian scientists play a key role in projects working with the TB Alliance and Medicines for Malaria Venture (MMV).
The potential for the PDP model to advance early innovations including, new medicines, vaccines, devices and diagnostics by utilising the skills and resources of Australia’s outstanding research community should be considered. This doesn’t mean that other facets of maintaining and growing medical research in Australia should be forgotten.
Whilst we are waiting to understand and contribute to the strategy, it must be remembered that funding from the $20 billion endowment fund is a while away. It won’t be until after 2020 that significant disbursement can be made, and even after this time there will be a continued need for strategic philanthropic support.
It is disappointing to hear reports that the announcement of the Medical Research Future Fund has lead some donors to reconsider their support. Careers in medical research can be fragile. Grants are highly competitive and a forced break from research can make it difficult for researchers to continue their research careers in quickly evolving areas of science, where staying on top of new technologies, tools and discoveries is obligatory.