Today the Hon. Minister Angus Taylor, Minister for Industry, Energy and Emissions Reduction, and the Hon. Minister Greg Hunt, Minister for Health, announced the award of a $61 million grant from the Commonwealth Department of Industry, Science, Energy & Resources to PrOSPeCT, the ‘Precision Oncology Screening Platform enabling Clinical Trials’ project.
This $185.4 million OMICO-led public private partnership over 3 years, will establish Australia as a regional hub for cancer drug development, linking research to commercial activity and building the digital economy in health analytics.
As a joint venture founding partner, Minderoo Foundation is investing in this ground-breaking program through its Strategic Impact Fund. It is expected that PrOSPeCT will change Australia’s approach to clinical trials and personalised medicine and advance the work already underway to unlock and integrate healthcare data and accelerate research.
“This joint venture exemplifies Minderoo’s approach to collaboratively drive scalable, systemic change in cancer care. We are working alongside trusted partners to bring new options to Australian cancer patients, build and strengthen a critically important set of healthcare infrastructure and technology capabilities and demonstrate the true value of large, integrated, health data-sets to accelerate research.”
– Dr Steve Burnell, Director Collaborate Against Cancer, Minderoo Foundation
Minderoo Foundation is one of five founding partners, working in collaboration with organisations across government, industry, research, and enabling technology. Partners will collaborate to provide genomic screening through national adult and paediatric oncology networks, collect comprehensive clinical, pathologic, treatment and outcomes data on all patients, and function as a coordinating and enabling platform to increase collaboration between businesses that operate in the clinical trials and research ecosystem. PrOSPeCT will:
It is expected that PrOSPeCT will provide government with evidence on which to base decisions about the role of genomic screening in clinical care.
Minderoo has a long-standing collaboration with OMICO as a funding partner of their Molecular Screening and Therapeutics (MoST) study, a pre-cursor to PrOSPeCT, with its network of 21 centres across Australia for screening/genomic sequencing.
It is the founding partners shared vision to bring together government, industry and not-for-profit organisations to build a sustainable, national approach to genomic screening, support clinical trials and create a valuable integrated dataset that can accelerate cancer research.
Minderoo Foundation through its Collaborate Against Cancer Initiative is committed to improving access to personalised care and targeted treatments for cancer patients, building collaborative networks and unlocking healthcare data to accelerate research and new treatment options.
The goals of PrOSPeCT to support sustainable industry, accelerate data-driven R&D, and create positive system change to improve outcomes for cancer patients align perfectly with those of Minderoo’s Collaborate Against Cancer Initiative and our Strategic Impact Fund.
Minderoo’s Strategic Impact Fund invests in businesses that scale and accelerate the goals of the Foundation’s philanthropic initiatives and demonstrates how capital can be used as a force for good. Impact investing is a key strategy for Minderoo Foundation to back businesses that are building sustainable models for tackling long-standing social, economic and environmental challenges aligned with Minderoo’s initiatives.
“Minderoo Foundation is delighted to invest in this ground-breaking program through our Strategic Impact Fund, bringing together industry, government, research and philanthropy with a common goal to link research to commercial activity, drive productivity and accelerate collaboration in Australian genomic cancer medicine.”
– Andrew Hagger, CEO, Minderoo Foundation
Established by Andrew and Nicola Forrest in 2001, we are a modern philanthropic organisation seeking to break down barriers, innovate and drive positive, lasting change. Minderoo Foundation is proudly Australian, with eight key initiatives spanning from ocean research and ending slavery, to collaboration in cancer and community projects.