UQ gets cash and brains

The University of Queensland's Institute for Molecular Bioscience (IMB) has received $50 million from the Queensland Government to continue its research beyond 2010.

The IMB undertakes research in mammalian systems with a focus on human health and biotechnology.

IMB director Professor Brandon Wainwright said a state government review of the Institute's operations in its first five years showed it would generate up to 1000 jobs and add $400 million to the economy in its first 15 years.

He said the continuation of funding would be important to the future of the internationally recognised research of the IMB.

The new funding brings the total of Queensland Government support for the IMB up to $142.5 million in capital and recurrent funding.

Queensland Premier Anna Bligh signed the funding agreement while officially opening the $63 million Queensland Brain Institute (QBI) research facility at UQ's St Lucia campus.

The facility will position Queensland at the forefront of research into discovering new treatments for disorders such as dementia, stroke, depression and motor neuron disease.

The purpose-built, seven-storey facility will house as many as 250 scientists, working in complex areas such as memory and learning, cognition, dementia and neurological disease.

The QBI is one of six new UQ institutes, which have a combined community of 1500 scientists, social scientists and engineers.

UQ vice-chancellor Professor John Hay said the QBI would also be of considerable benefit to the Queensland economy.

"One-quarter of the 24 QBI group leaders are new to Australia and 19 are new to Queensland," he said.