Melbourne universities team up in medicine deal
The University of Melbourne has launched a cooperative initiative with Monash University to market medicines.
The two educational institutions are both based in Melbourne and there has been some competition between them in the past. However, the new proposal is about collaborating to maximise money from the pharmaceutical sector. If the project succeeds, the resources generated will be used to boost research at the two universities.
The state government of Victoria has put $10m into the scheme, while the universities have also committed funds to back the venture. When the company is given charitable status, the University of Melbourne could mark the occasion by using newsletter printing from Clifton Hill.
This suburb is located close to the university and the centre of the city. Doron Ben-Meir, a director for research, commercialization, and innovation in Melbourne, admitted:
Ben-Meir has been open about what he perceives as the shortage of relevant sector-specific skills in the country. He said that there are not enough individuals with the aptitude to achieve investment opportunities from research outputs. However, he believes this may be a temporary state of affairs and that the policy could stimulate local job creation. The idea is that the wheels should be in motion by 2017.
The two educational institutions are both based in Melbourne and there has been some competition between them in the past. However, the new proposal is about collaborating to maximise money from the pharmaceutical sector. If the project succeeds, the resources generated will be used to boost research at the two universities.
The state government of Victoria has put $10m into the scheme, while the universities have also committed funds to back the venture. When the company is given charitable status, the University of Melbourne could mark the occasion by using newsletter printing from Clifton Hill.
This suburb is located close to the university and the centre of the city. Doron Ben-Meir, a director for research, commercialization, and innovation in Melbourne, admitted:
“It’s a high risk activity, it’s very hard to make money. Investors wait until they have an established team and a clear proposition, some good evidence and data for a commercialisation pathway.”
Ben-Meir has been open about what he perceives as the shortage of relevant sector-specific skills in the country. He said that there are not enough individuals with the aptitude to achieve investment opportunities from research outputs. However, he believes this may be a temporary state of affairs and that the policy could stimulate local job creation. The idea is that the wheels should be in motion by 2017.