Groundbreaking partnership to deliver new medicines to the world
The Australian Centre of Pharmaceutical Innovation, jointly established by the Monash Institute of Pharmaceutical Sciences (MIPS) and GlaxoSmithKline (GSK) Australia, is an example of the health, financial and knowledge benefits that can flow from successful collaborations.
By bringing together Monash University's world-leading drug delivery and formulation development expertise and GSK's industry and manufacturing capabilities, the collaboration will translate cutting-edge science into next-generation pharmaceutical products destined for the national and international market.
Flow-on benefits of the collaboration, aside from delivery of advanced medicines to the world, include employment opportunities and the generation of new scientific knowledge and drug development capabilities.
MIPS Director Professor Bill Charman says the collaboration leverages the unique skills in pharmaceutical science and nanotechnology within the institute with the industrial know-how and world-class medicine development capabilities of GSK Australia.
"This collaboration is an exciting and significant strategic step for MIPS. It has paved the way for a long-term, broad-based collaboration with GSK," Professor Charman said.
Medicines developed within Victoria contributed to improved health of Australians and boost Victoria's life science export sales, which in 2008-09 generated $1.2 billion for the state.
The Monash-GSK pharmaceutical partnership has recently won two prestigious National Business Higher Education Round Table Collaboration Awards.