Acquisition to disrupt Australia’s landscape for development of novel medicines

Medical: Monash University announced its acquisition of a prime property in Parkville, which is set to revolutionise Australia’s biomedical research capabilities. The property, previously owned by Australia’s national science agency CSIRO, will become an essential addition to Monash’s Parkville campus, housing the renowned Faculty of Pharmacy and Pharmaceutical Sciences. This strategic move aims to drive the discovery and development of new medicines, positioning Monash University at the forefront of ground-breaking biomedical advancements.

The newly acquired property will undergo a comprehensive refurbishment to accommodate the expansion of the Monash Institute of Pharmaceutical Sciences (MIPS), a world-leading institution dedicated to driving innovation in drug research and development. With a keen focus on developing new and improved drugs while ensuring the safe and effective use of medicines, MIPS is poised to make groundbreaking contributions to the field.

President and Vice-Chancellor of Monash University, Professor Margaret Gardner AC, expressed her enthusiasm for the project, highlighting the property’s potential as a research hub for various key priority areas.

“The new property will be instrumental in bridging the gap between the deep expertise of Australian science in fundamental biology and the translation of this expertise into new medicines,” Professor Gardner said.

The expansion of the facilities will pave the way for advancements in medicinal chemistry, drug candidate optimisation, and drug formulation. These developments will support the translation of biological discoveries into advanced preclinical and clinical drug candidates that are suitable for commercial progression. Moreover, this expansion will enable Monash to explore emerging areas of focus, such as mRNA therapeutics, next-generation neuromedicines, and novel mechanisms of drug screening and design.

“This will allow our researchers to enhance opportunities for translational medicine and commercial spin-out activity, both within Monash and across the sector,” commented Professor Gardner.

She expressed her gratitude to CSIRO and the Commonwealth Government for their support in making this critical acquisition a reality, emphasising the longstanding and close relationship between the organisations.

While CSIRO will maintain a small presence at the Royal Parade site, the majority of its Parkville staff have relocated to refurbished spaces at Clayton, situated within the heart of the Monash Technology Precinct. This strategic relocation ensures that CSIRO can continue its vital research work, using the proceeds from the property sale to tackle the nation’s greatest challenges.

Faculty Dean, Professor Arthur Christopoulos, stressed the significance of Monash’s expansion in addressing the capacity gap in the local production of drug candidates.

“Pharmaceuticals represent a major growth sector, and Australia urgently needs to build its capacity to translate ground-breaking medical research discoveries into commercial, high-quality, clinical drug candidates for the treatment of major global health burdens.”

Professor Chris Porter, Director of MIPS, emphasised the pivotal role of the new facility in positioning Australia as a leader in drug discovery, development, and innovation. The institute will concentrate its efforts on addressing various health challenges, including mental ill health, infectious diseases, cardiovascular and metabolic disorders, chronic pain, maternal health, and cancer.

“The new site will provide the opportunity to continue our significant growth, to deliver world class pharmaceutical research facilities, to support the expansion of the rapidly developing Australian biotechnology start-up ecosystem and, ultimately, to improve health outcomes both within Australia and worldwide,” Professor Porter said.

The acquisition further solidifies Melbourne’s status as one of the world’s foremost biomedical precincts, alongside London and Boston. By providing world-class facilities that foster multidisciplinary collaborations, Monash aims to propel drug discovery and development forward, ultimately improving health outcomes not only within Australia but worldwide.

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