NSW will be at the forefront of cutting edge health treatments as part of a $270 million boost to biomedical research in the 2022-23 NSW Budget.
The funding for two new facilities – the Sydney Biomedical Accelerator Complex in Camperdown and the Viral Vector manufacturing facility at Westmead \u2013 will transform the industry and help develop treatments for rare, life-limiting diseases as part of the NSW Government\u2019s commitment to driving world-leading health and research precincts.
Premier Dominic Perrottet said this was a significant investment in a growing industry that will help deliver what matters to make daily life better for the people of NSW.
\u201cThe NSW Government is committed to putting this state at the very forefront of innovative health care by continuing to invest in state-of-the-art health and research precincts,\u201d Mr Perrottet said.
\u201cThis investment in biomedical technology will attract world-leading researchers, scientists and clinicians to our medical precincts, and we hope deliver breakthroughs that create a brighter future for people everywhere.\u201d
The $270.3 million investment in the 2022-23 NSW Budget includes:<\/p>\n\n\n\n
Health Minister Brad Hazzard said expanding to commercial scale viral vector manufacturing will ensure faster access to life-saving therapies.
\u201cThese advanced therapeutics are cutting-edge and are offering new hope for remission and long-term survival for patients with rare, and previously untreatable, conditions,\u201d Mr Hazzard said.
\u201cIt will also mean NSW patients have greater access to locally-based clinical trials and can receive highly innovative treatment options, to help ease the burden they face as they fight diseases which previously had very limited treatment options.\u201d
Viral vectors are viruses that have their genetic material replaced by a genetic medicine. They are increasingly being used in the development of COVID-19 vaccines but are also vital in providing life-saving gene replacement therapies to patients such as CAR T-cell therapy.
Treasurer Matt Kean said the investment will establish NSW as a leader in this medical technology, as well as grow production capacity to support the demand for viral vectors in clinical trials.
\u201cThese investments will enhance NSW\u2019s advanced bio-manufacturing presence and will help cultivate a dynamic ecosystem of innovation, education and research now and into the future,\u201d Mr Kean said.
Minister for Science, Innovation and Technology Alister Henskens said this new investment is in addition to the $119.1 million being invested over 10 years into RNA research and development initiatives in the 2022-23 Budget, as well as the $95.8 million RNA Pilot Manufacturing Facility announced in October 2021.
\u201cThe gene therapy and cell therapy sectors are experiencing huge growth and this further investment in the industry will not only boost jobs for NSW but provide access to groundbreaking therapies and treatments as well,\u201d Mr Henskens said.
The NSW Government has invested $25.6 million into medical and scientific innovation to help fight diseases in the 2022-23 NSW Budget.
The funding will support access to:<\/p>\n\n\n\n
This Viral Vector Manufacturing Facility project located at the Westmead Health and Innovation Precinct is a collaboration between NSW Treasury, Investment NSW, and various NSW Health entities, including Health Infrastructure, Office of Health and Medical Research, Sydney Children\u2019s Hospitals Network and with support from Children\u2019s Medical Research Institute and Western Sydney Local Health District.<\/p>\n","protected":false},"excerpt":{"rendered":"
NSW will be at the forefront of cutting edge health treatments as part of a $270 million boost to biomedical research in the 2022-23 NSW Budget. The funding for two new facilities – the Sydney Biomedical Accelerator Complex in Camperdown and the Viral Vector manufacturing facility at Westmead \u2013 will transform the industry and help develop … Continue reading “$270 million to accelerate med tech innovation”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17072","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=17072"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17072\/revisions"}],"predecessor-version":[{"id":17073,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/17072\/revisions\/17073"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=17072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=17072"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=17072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}