Federal funding for a medical research powerhouse
The federal government announced yesterday that it will back the development of a Brisbane-based major research centre, designed to test and produce new drugs for the medical industry.
The 2007 budget committed $100 million to the establishment of the Translational Research Institute (TRI), matching the funds allocated by the Queensland government and ensuring the development will go ahead.
Consortium chairman, Dr David Watson said the TRI is expected to house around 500 scientists who would work on translating science into medical results for cancer, infection, diabetes and inflammatory disease.
"I am delighted at this significant commitment by the federal government to biomedical research," said Professor John Hay AC, vice chancellor of the University of Queensland.
"This institute will be an Australian first and only one in a handful in the world."
Building is expected to commence in 2008, although more money is needed for the project.
The institute will be situated on the site currently occupied by the Princess Alexandria Hospital helipad.
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