Treasurer visits Monash, scientists showcase medical innovations
Victorian Government Treasurer, Tim Pallas, recently visited the Monash Technology Precinct at the University’s Clayton campus where he met with the scientists behind the Medicines Manufacturing Innovation Centre (MMIC), an initiative dedicated to strengthening sovereign medicines manufacturing capabilities.
The team, led by MMIC Director Professor Michelle McIntosh, showcased two of the Centre’s development projects, including a unique inhaled oxytocin product designed to prevent and treat postpartum haemorrhage, along with an intranasal heparin spray to reduce the clinical impact on individuals infected with COVID, and lower the risk of transmission.
Both projects are preparing for clinical trials to commence in 2022, with $4.2 million from the state government recently awarded to the multi-institute intranasal heparin project.
MMIC was established in 2017 as part of a joint initiative between the Victorian State Government and Parkville’s Monash Institute of Pharmaceutical Sciences (MIPS) to provide opportunities for innovation in medicine formulation, product development and industrialisation.
In 2021 it was announced that the expansion of MMIC to Clayton has been funded through an $8.58 million investment from the Victorian Higher Education State Investment Fund (VHESIF), allowing the scale-up of medicine manufacturing capability, and support for clinical trials and growth of exports and jobs. Construction is expected to finish towards the end of 2023.
Read the full story on the Monash News site.