The George Institute announces 'game changing' investment
On March 10, The George Institute for Global Health announced a $53 million investment to support the commercialisation of the Institute’s world-leading research. The funding from three Australian investors will help address some of the biggest health challenges of our time - heart disease, high blood pressure and diabetes.
Together with key partners and collaborators, policy makers and government officials, Institute staff gathered at the Museum of Contemporary Art in Sydney to share the exciting news and discuss the potential that the funding has to fast track the growth of George Health Enterprises, the Institute’s commercial arm, and George Medicines, its late-stage drug development company.
Professor Robyn Norton AO, Principal Director and Co-Founder of The George Institute for Global Health opened formal proceedings by welcoming guests to the event.
Staph Leavenworth Bakali, President and Chief Executive Officer, George Health, followed, emphasising the importance of the funding to public health,
“one in two of us has a chronic disease. While this is a sobering statistic, what makes it real is that many of us are likely to have people close to us whose lives have changed because they have fallen victim to these conditions.”
Mr Trent Zimmerman MP, Liberal Member for North Sydney (representing the Hon Karen Andrews MP, Minister for Industry, Science and Technology) said that the funding was an “investment in the future of health around the world and an investment into innovation and science in Australia.”
Professor Stephen MacMahon AO, Principal Director and Co-Founder of The George Institute, said the investment was a ‘game changer’ for Australia and for global health, and explained how it will allow The Institute to identify new treatment strategies, develop new drug treatments and innovative treatment approaches, while delivering social and financial returns.