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Prime Minister announces funding for Precision Medicine

Prime Minister announces funding for Precision Medicine

Whilst at ANSTO’s Australian Synchrotron Prime Minister Scott Morrison announced new funding for the Australian Precision Medicine Enterprise (APME) Project. The Australian Government will contribute $23m in grant funding under the Manufacturing Collaboration Stream of the Modern Manufacturing Initiative (MMI) towards the $71.2m project.

The MMI is a key element of the Australian Government's Modern Manufacturing Strategy, which aims to help Australian manufacturers scale-up, compete internationally, create jobs and ensure sovereign capability in critical areas including nuclear medicines and targeted pharmaceutical products. The Manufacturing Collaboration Stream, one of three MMI funding streams, provides funding for a small number of large, transformational projects.

The APME Project brings together industry partners Global Medical Solutions' (GMS) Australia subsidiary, Global Medical Solutions Australia (GMSA), Telix Pharmaceuticals Ltd with Monash University to address the infrastructure shortfall and will enable further development of Good Manufacturing Practice (cGMP) manufacturing of the Australian radiopharmaceuticals manufacturing sector. 

About 75-80 per cent of nuclear medicine isotopes used in Australia come from ANSTO’s Lucas Heights campus in Sydney and through ANSTO, Australia has become a world leader in the advanced manufacturing of diagnostic and therapeutic nuclear medicines.  Every Australian is likely to benefit from nuclear medicine at some point in their lifetime and on average each Australian will benefit from at least two nuclear medicine procedures during their lives*

ANSTO CEO Shaun Jenkinson said, “This announcement will support the reliable supply of around 15% of nuclear medicines that we currently need to import into Australia. It will also support the rapid development and innovation of new nuclear medicines for the future, of which ANSTO will be part.  

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.

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, many of which are currently imported into Australia. This will foster the development and manufacturing of precision medicines, further contributing to making radiopharmaceuticals an industry of national significance. 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 ANSTO’s 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.

The decision by the Prime Minister to make this important announcement at the Synchrotron demonstrated the contribution of ANSTO to advanced manufacturing and science and technology in Australia.  “The PM along with the Minister for Health and Ageing Greg Hunt, took the opportunity to recognise the quality of science and scientists that are helping solve national  challenges.  The PM  praised the Synchrotron as a perfect example of the workplace of the future” said Shaun


*Based on published Medicare statistics combined with non-MBS data sourced from the nuclear medicine community