Multimillion dollar research projects in Melbourne

Multimillion dollar research projects in Melbourne

Melbourne is showcasing its talent and international standing, with a major pharmaceutical company pairing up with Monash University's Centre for Therapeutic Innovation (CTI) in a massive collaborative project.

Minister for Technology Gordon Rich-Phillips announced the research partnership on June 26.

Melbourne a first

US-based pharmaceutical company Pfizer is straying outside of the US, with Melbourne selected as the first location outside of the company's home country for a CTI.

The CTI program was first launched in 2010 and is a special academic-industry collaborative model that bridges the gap between "early scientific discovery and its translation into new medicines", according to a government release.

This massive commitment could be indicative of ongoing interest in the Victorian capital, which is an economic and cultural hub. Those with home mortgages will be pleased by the ongoing projects occurring in the city that are sure to boost its economy and employment prospects.

Multi-million dollar projects

Mr Rich-Phillips noted that the new centre marks a "significant investment" by the pharmaceutical company. Researchers from Monash University's Faculty of Medicine, Nursing and Health Services will manage the project.

"Monash's research strengths in areas like cancer, regenerative medicine, structural biology, immunology and a focus on infection and immunity are providing a basis for translation into innovative clinical practices and, ultimately, better health for people worldwide," Mr Rich commented.

"These collaborative projects are estimated to each represent an investment of between $12-14 million, while further strengthening Victoria's international reputation as a global leader in areas like infectious and chronic diseases, immunology and vaccines."

Monash University Academic Vice-President and Dean of the Faculty of Medicine, Nursing and Health Sciences Professor Christina Mitchell expressed excitement about the collaboration, calling the CTI "pioneering".

The Victorian capital is continuing to prove itself as a global city. Those looking to settle down in a thriving area may consider a fixed home loan to scoop up Melbourne property.

Image credit: Dr.Farouk

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