Medical Research Future Fund advisory board a key milestone
The announcement of an expert advisory board to guide the priorities and strategy for the Federal Government’s Medical Research Future Fund’s (MRFF) has been welcomed by The George Institute for Global Health.
Vlado Perkovic, Executive Director of The George Institute, said that the appointment of the Australian Medical Research Advisory Board was a key milestone in the implementation of the Medical Research Future Fund.
Professor Perkovic said: “Achieving the right governance model is essential to ensuring the MRFF can begin to invest in much needed healthcare innovation and research which will translate into direct improvements in the health, life expectancy and quality of life for all Australians.
“The opportunity exists to address the biggest burdens of disease and injury by supporting and funding high quality research.”
The Board, chaired by Ian Frazer, will be responsible for shaping the Australian Medical Research and Innovation Strategy (every five years) and the Australian Medical Research and Innovation Priorities (every two years) to guide the allocation of financial assistance and grants from the MRFF.
The MRFF will build to a $20 billion perpetual fund that will help secure funding for health and medical research into the future, providing $1 billion in annual disbursements by 2022-23. It’s expected to hand out $400 million in funds over the next four years alone and will essentially double the amount of Federal Government funding for medical research and innovation.