Posted 6 September 2024
Minister for Economic Growth Tim Pallas today visited St Vincent’s Institute of Medical Research (SVI) to announce the latest grant recipients of the mRNA Victoria Research Acceleration Fund.
More than 15 Victorian research teams will share in $2.1 million to accelerate new mRNA-based treatments for HIV, inflammatory disease, and hard to treat cancers.
SVI will receive $100,000 to develop new treatments for non-alcoholic fatty liver disease harnessing mRNA editing technology. This condition impacts over 5 million Australians and is a leading risk factor for cardiovascular disease and type 2 diabetes.
Minister for Economic Growth Tim Pallas said this investment will support institutions like SVI to save lives and grow our thriving biotech sector.
“We’re backing our world-class local researchers to discover the next generation of life-saving vaccines and medicines, and cementing Victoria as the leading hub for mRNA research in the Asia Pacific,” Minister Pallas said.
SVI Director Professor Tom Kay said investment in medical research gives our scientists the best chance of maximising new mRNA technology to develop leading-edge therapy to combat conditions like liver disease.
“Thank you to Associate Professor Jon Oakhill, Dr Sandra Galic and Associate Professor Mark Chong. Jon and Sandra are driving the mRNA ‘liver disease’ project we showcased today.
“In 2022, Mark was one of the inaugural recipients of funding from the Victorian Government’s then new mRNA Research Acceleration Fund, for his project ‘Reversing autoimmune diabetes with mRNA therapy,’” Tom said.
mRNA Victoria has supported 57 research projects – unlocking the next frontier of medicines and vaccines and establishing a world-leading mRNA industry in Victoria.
With BioNTech and Moderna establishing major hubs in Victoria, the state will become the only place in the world where both mRNA leaders host research and development and manufacturing operations.
Victoria is responsible for almost 60 per cent of Australia’s pharmaceutical exports, supporting more than 100,000 full-time jobs in the biotech sector.
For more than 65 years, scientists at SVI have been inspired by discovery and driven by purpose. At SVI, our mission is to produce world-class science with the aim of transforming lives through medical discovery.