Federal funding secured for Omico’s precision oncology program: A lifeline for targeted cancer treatments

The Federal Government’s has expanded funding for Omico’s precision oncology program, PrOSPeCT, supporting adults diagnosed with complex and rare cancers.

Ian Black, CEO, Omico said “This investment ensures the vital infrastructure we’ve established remains available to more people, offering access to comprehensive genomic profiling and matched therapies at no cost to patients. It is a commitment to patients, families, and Australia’s leadership in cutting-edge cancer care.”

Since 2016, Omico’s programs have provided more than 22,300 Australians with access to precision oncology innovations, with referrals from over 1,300 clinicians nationwide. Beyond transforming patient care, Omico has supported more than 90 oncology clinical trials – expanding Australia’s research capabilities, attracting international investment, and offering patients and families treatment options that would otherwise be out of reach.

Data from Omico’s Molecular Screening and Therapeutics (MoST) study highlights the profound benefits of precision oncology: among 3,383 patients, those treated with matched therapies based on identified biomarkers experienced double the median survival time compared to those on unmatched treatments.

Moreover, analysis of referrals from over 20,000 patients with complex cancers revealed that over two-thirds possess actionable genetic biomarkers, paving the way for advanced, potentially life-saving treatments.

Professor David Thomas, Chief Science and Strategy Officer at Omico and Director of the Centre of Molecular Oncology, UNSW, stated “Investing in Omico is an investment in both the health and economy of Australia. Over 8 years we have built systems, a national network and know-how, generated vital evidence, stimulated economic growth, and most importantly, changed lives.

“But our work is far from done. With this support, we can continue to expand access to precision oncology for Australians with challenging cancers. Beyond this, we look forward to progressing conversations with government and industry to take the next step – making precision oncology a routine part of cancer care.”

In reimagining healthcare across the entire patient journey, Health Industry Hub^TM is the only one-stop-hub uniting the diversity of the Pharma, MedTech, Diagnostics & Biotech sectors to inspire meaningful change.

The Health Industry Hub^TM content is copyright protected. Access is available under individual user licenses. Please click here to subscribe and visit T&Cs here.