CDCO to share in $17 million of VHESIF funding

The Monash Institute of Pharmaceutical Sciences’ Centre for Drug Candidate Optimisation (CDCO) will share in $17 million awarded towards four Monash University-led projects through the Victorian Higher Education State Investment Fund (VHESIF).

The CDCO will receive funding to support the purchase of an Acoustic Ejection Mass Spectrometer - a state-of-the-art instrument designed to greatly expedite bioanalytical processing and increase throughput for pharmaceutical profiling of new drug candidates.

The Mass Spectrometer will enhance drug discovery by supporting medicinal chemistry, pharmaceutical optimisation and metabolomics/proteomics. These activities will strengthen the therapeutic pipeline in Victoria and Australia, and accelerate the progression of new drug candidates toward clinical development.

Director of the CDCO at MIPS, Professor Susan Charman, said: “This significant contribution from the Victorian Government will help to purchase one of only two instruments in Australia with the ability to perform high speed bioanalysis, and the first to be applied to biopharmaceutical drug candidate optimisation in support of drug discovery.”

“We are grateful to the Victorian Government and co-funders Therapeutic Innovation Australia (TIA) and the Monash University Platform Technology Research Network.”

The Victorian Higher Education State Investment Fund has been developed in response to the significant impact of the coronavirus (COVID-19) pandemic on Victorian universities. The $350 million fund will support universities with capital works, applied research and research partnerships focused on boosting Victoria’s productivity and the economy as the state recovers from the impacts of the virus, which have hit universities hard.

Read the full story about the Monash-led VHESIF projects here.