The announcement of the expert advisory board for the Medical Research Future Fund (MRFF) is an important step towards the full realisation of this visionary fund for medical research and innovative healthcare, Burnet Institute CEO and Director Professor Brendan Crabb says.
To be chaired by 2006 Australian of the Year Professor Ian Frazer AC, the board will be responsible for shaping the Australian Medical Research and Innovation Strategy and the Australian Medical Research and Innovation Priorities to guide the allocation of financial assistance and grants from the MRFF.
“We are delighted with the Minister’s announcement of the MRFF advisory board,” Professor Crabb said.
“The names are stellar and highly respected experts across the health medical research spectrum. They will well represent the translational aims of the Fund.
“Just as importantly, this announcement gives the green light to disbursement of funds, from which will flow much needed boost to our health system and to our economy."
The MRFF is expected to deliver more than $400 million in disbursements to researchers over the next four years, building to $1 billion per year by 2020.
This funding is in addition to medical research funding currently provided by the NHMRC, and will double Federal Government funding for medical research and innovation.
The medical innovation supported by the MRFF is expected not only to improve life expectancy and quality of life for Australians, it should also deliver financial returns to the nation by reducing the burden of disease on the health system and productivity through the creation of innovative businesses and jobs.
The members of the Australian Medical Research Advisory Board are:
- Professor Ian Frazer AC (Chair)
- Professor Anne Kelso AO, CEO, National Health and Medical Research Council (NHMRC)
- Professor Doug Hilton, President, Association of Australian Medical Research Institutes (AAMRI)
- Professor Peter Hoj, Vice Chancellor, University of Queensland
- Professor Karen Reynolds, Flinders University and Chair, Biomedical Engineering College, Engineers Australia
- Dr Deborah Rathjen, CEO & Managing Director, Binomics
- Yasser El-Ansary, Chief Executive, AVCAL (Australian Private Equity and Venture Capital Association Limited)
- Jennifer Williams, Chief Executive, Australian Red Cross Blood Service