Updated on 21 August 2012
The TIA-QLD Node will initially undertake four translational projects to deliver tangible commercial returns within five years
Singapore: Australian life sciences researchers will now be able to translate their discoveries into commercial products faster with the newly established Queensland Node of the Therapeutic Innovation Australia (TIA - Qld Node).
TIA - QLD Node, a state-based model, is being developed under the auspices of Therapeutic Innovation Australia (TIA), the lead agent for the $35 million Translating Health Discovery Project funded under the Australian government's Super Science Initiative.
The Therapeutic Innovation Australia (TIA) Queensland Node has been launched with $6.9 million from the federal government and co-investment funding of $2 million from the Queensland government. The Node will provide a testing model to accelerate the movement of inventions by Australian researchers from the laboratory, through preclinical trials, clinical development and produce ‘reduced risked technologies' that will be highly attractive for investors to commercialize into therapeutic products.
The TIA-QLD Node will initially undertake four translational projects to deliver tangible commercial returns within five years.
Mr Stewart Hay, CEO of Therapeutic Innovation Australia, said, "The major strategy embodied in this plan involves aggregating and leveraging existing infrastructure across the nation, improving researcher access and addressing gaps in infrastructure rather than establishing a large number of new facilities." He added that this will allow the expansion of facilities at The University of Queensland and Griffith University and link them in a coordinated way.