Monash awarded $23M federal funding as part of $71M Australian Precision Medicine Enterprise (APME) project
Monash University is delighted to announce it is part of a $71.2 million Australian Precision Medicine Enterprise (APME) Project that has been awarded $23 million in Federal Government funding under the Manufacturing Collaboration Stream of the Modern Manufacturing Initiative (MMI).
The MMI is a key element of the Australian Government’s Modern Manufacturing Strategy, which aims to help Australian manufacturers scale -p, compete internationally and create jobs. The Manufacturing Collaboration Stream, one of three MMI funding streams, provides funding for a small number of large, transformational projects.
The Australian Precision Medicine Enterprise (APME) Project brings together industry partners Global Medical Solutions Australia (GMSA) and Telix Pharmaceuticals with Monash University to address the Good Manufacturing Practice (GMP) manufacturing gap in the Australian radiopharmaceuticals manufacturing sector. Australia has a long-term problem securing medicines and we have witnessed the impact of this in COVID-19 vaccination supply delays and disruptions.
The project will support large-scale innovative development and manufacturing of precision medicines and theranostics for the Australian and Asia Pacific markets, with business-to-business and business-to-research collaboration (University and Industry) at its core. As a global leader in pharmacy and pharmacology, Monash has a long history of building alliances between industry and academia to deliver clinical impact and broad community benefit.
At the heart of APME’s vision is the fit-out and build of a high energy cyclotron, which will be the source of critical radioisotopes currently imported into Australia. This serves to enhance Australia’s medicine manufacturing resilience and brings a critical element of the supply chain on-shore. The APME will be strategically co-located at the Monash Technology Precinct, which includes Monash University, Monash Biomedical Imaging Centre, BrainPark, the Victorian Heart Hospital and the Australian Synchrotron. The co-location of healthcare, industry and research partners promises to promote a further level of collaboration, create jobs, export opportunities, secure Australia’s medical supply chain and accelerate the speed at which patients benefit from innovation.
Moreover, APME will add to Australia’s stock of human capital in STEM, train high-value engineers and scientists, add to Australia’s R&D production (including supporting late-stage clinical trials), and help attract the best and brightest workers to Melbourne and Australia.
The APME project partners have committed to $41.2 million over the three-year project period. Global Medical Solutions Australia (GMSA) is contributing $25 million, Telix Pharmaceuticals $5 million and Monash University, $11.2 million.
Monash University President and Vice-Chancellor Professor Margaret Gardner AC said: “The establishment of the APME is a key asset for the future of innovative medicines manufacturing. The APME is vital for Australia to have a sovereign capability to manufacture and commercialise clinically essential radiopharmaceuticals as well as new theranostic drugs for cancer treatments.”
Senior Vice President of Operations and Business Development for Global Medical Solutions, Shahe Bagerdjian, said “GMS is proud to partner with Monash and Telix to develop and operate the state-of-the-art APME. We’d like to thank all of the Australian Government stakeholders in recognizing the importance of the APME and we are thankful for their grant contributions which allowed the APME to become a reality. There’s no better country in which to build the APME and we firmly believe the APME will both address supply security concerns for Australia as well as accelerate Australia’s rise as the premier destination as a regional biotech hub. We are excited to continue to expand our CDMO services for the fast-growing theranostics sector”. said Shahe Bagerdjian, Senior Vice President of Operations and Business Development for Global Medical Solutions.
CEO of Telix Asia Pacific, Dr. David N. Cade stated, “Australia is a leading innovator in terms of clinical development and isotope supply for nuclear medicine, which was recently included in the Australian Government’s list of critical technologies in the national interest. However, there remains a significant need to achieve sovereign isotope and drug product manufacturing capabilities suitable for the future of the industry, both commercially and academically. Telix is pleased to contribute to the creation of a piece of key infrastructure to enable the production of radiopharmaceuticals for the Asia Pacific region. We would like to thank the Australian Federal Government for funding, and our partners GMSA and Monash University for collaborating on such a high-quality proposal.”
Monash University thanks the Federal Government for their funding, and our partners GMSA and Telix for their collaboration and expertise. Monash University has a strong philosophy of focusing research investment into identified areas of strength and excellence. We are delighted to be awarded this funding and to commence the APME project with our industry partners.
For more information about the APME, please visit: https://apmetheranostics.com.au/