On behalf of the Institute, Burnet director and CEO Professor Brendan Crabb AC welcomed the increased investment in medical research announced in this week’s Victorian Budget.
The increase of $24.6 million over two years will help medical research institutes to better meet the full costs of medical research.
The Operational Infrastructure Support Scheme (OIS) provides funding for the infrastructure and organisational costs that underpin medical research.
Professor Crabb said the funding boost was the first increase in support from the Victorian Government since 2016 and would help many of Victoria’s 14 independent medical research institutes bridge the funding gap between funds received through competitive grants and the actual cost of doing research.
“This additional investment from the Victorian Government is recognition of the vital role medical research plays in the health and economy of the state and, indeed, the country,” he said.
“It will help ensure Victoria remains one of the leading medical research hubs in the world.”
“This funding will reduce the pressure on medical research institutes to find alternative sources of income, such as philanthropic investment, to enable our lifesaving work to continue.”
The Victorian Government’s investment will see an increase of $12.2 million to the OIS in 2025-26, and a further $12.4 million in 2026-27. This brings the total support to $47.6 million a year, for the two years.
“While we welcome this additional support, we need to ensure we keep pace with the increasing costs of medical research, so we can provide long-term security for our researchers who deliver huge benefits to individuals, communities, and the Victorian economy,” Professor Crabb said.
He also welcomed the additional investment of $5 million over three years to grow industry-sponsored clinical trials, as well as a further $3 million for a National Innovation Visa nominations scheme and a Research Fellowship program, which were both aimed at attracting highly skilled senior researchers from overseas to Victoria.
“Victoria’s medical research institutes are among the best in the world and are working to deliver lifesaving treatment for a range of devastating diseases such as cancer, heart disease, diabetes, infectious diseases, and mental health issues, among many others,” he said.
“We welcome this additional funding from the Victorian Government and look forward to continuing to work them, alongside our partner organisations and communities, to deliver lifesaving and life-enhancing benefits.”