The Morrison Government is funding world-leading research into tissue engineering and regenerative medicine that will lead to better medical treatment for Australians and the jobs of the future.
The Government will fund a new research centre that will put Australia at the forefront of the growing biotechnology industry.
Minister for Education Dan Tehan today announced $5 million would be provided to establish the Australian Research Council (ARC) Training Centre for Cell and Tissue Engineering Technologies at Monash University.
"Regenerative medicine is a cutting-edge branch of science that develops methods to regrow, repair or replace damaged or diseased cells, organs or tissues," Mr Tehan said.
"Breakthroughs in this area will provide significant benefits to the medical treatment Australians receive as well as providing new business opportunities.
"This new research centre will create jobs and lead to patents and spin-off companies. It will also support mentoring opportunities for the next generation of industry scientists and improve the skills of future researchers in the tissue engineering and regenerative medicine sector.
"Our Government is strategically investing in partnerships between universities, industry and government to drive the commercialisation of research leading to new jobs, new business opportunities, productivity gains and benefits for society."
Minister for Health Greg Hunt said: "The Government’s support for the new Training Centre for Cell and Tissue Engineering Technologies is part of our unprecedented investment in medical research and new biomedical technology, including regenerative medicine.
"Our $150 million, 10-year Australian Stem Cell Therapies Mission, funded through the landmark Medical Research Future Fund, recognises the huge potential of stem cell science to solve currently incurable health issues."
Monash University President and Vice-Chancellor Professor Margaret Gardner AO said this new ARC Training Centre would build on Australia’s outstanding research strengths in regenerative medicine, tissue engineering and cell therapies.
"The ARC Training Centre for Cell and Tissue Engineering Technologies presents an opportunity to engage with this sector and provide access to talent at Monash University and 27 partner organisations," Professor Gardner said.
"The multidisciplinary initiative will grow the nation’s capacity to train the next generation of researchers in the skills that this industry requires to grow and become more competitive on a global scale."
Senator for Victoria David Van welcomed the involvement of Monash University and the focus on world-leading medical advances.
"Victoria can be proud of its efforts in supporting world-leading medical advances. The research undertaken at this training centre will ensure we remain at the forefront of medical technology around the world."
The training centre will attract a total of $13.2 million in cash and in-kind support and involve collaboration with 27 participating organisations across four countries.
More information is available on the ARC website