IMAGE: Burnet Deputy Director and Head of Business Development and Innovation, Associate Professor David Anderson

Confidence in the medical research sector was given a further boost with the recommitment of the Federal Government to the Medical Research Future Fund (MRFF) in the budget this week.

The announcement of the MRFF in 2014 recognised the importance medical research plays in directly improving the health of the Australian community and in a building a strong economy and the urgent need for long-term strategic investment in the sector.

Burnet Institute Deputy Director and Head of Business Development and Innovation, Associate Professor David Anderson said the recommitment to building the MRFF was very good news for all who work in medical research.

“Outcomes of medical research benefit not only Australians but have impact globally with the development of new treatments, diagnostics, vaccines and other technologies as well as innovations in health systems and delivery,” Associate Professor Anderson said.

“Our ability to innovate successfully depends on a talented and secure medical research sector and the Medical Research Future Fund will help to provide security for our scientists here in Australia to achieve these ends,” he said.

The Medical Research Future Fund is projected to reach $20 billion by 2020-21, with $61 million in funding distributions from the fund for medical research in 2016-17, and another $723 million over the following three years.

“There is no doubt that the MRFF will make a significant impact on the sector, creating new jobs and facilitating long-term practical outcomes from the innovations of many researchers already working in medical research,” Associate Professor Anderson said.

“Disappointingly though the Government has seen fit to significantly cut the foreign aid budget this week. It is unfortunate these cuts have occurred yet again. Appropriate levels of foreign aid together with a strong medical research sector could be leveraged to achieve even greater outcomes for health, security and the economy of Australia and the region,” he added.