Medical Research Future Fund - clinical trial funding set to deliver significant benefits to Australian patients and the economy
Medical Research Future Fund – clinical trial funding set to deliver significant benefits to Australian patients and the economy
The funding commitment for clinical trials and registries announced in this week’s Federal Budget is a major first step in realising the enormous potential of the Medical Research Future Fund (MRFF) to save and improve the lives of millions of Australians.
The announcement reaffirms the Government’s commitment to achieving the MRFF capital target of $20 billion by 2020/21. In what can be seen as a win-win for patients and the economy, a total of $33 million to boost clinical trials activity in Australia was announced last night.
“The Australian Clinical Trials Alliance congratulates the Government for its steadfast commitment to the MRFF and its clear recognition of the role and value of clinical trials and registries to the health system,” said ACTA Chair, Professor John Zalcberg OAM.
“Clinical trials and registries are critical to the delivery of high quality, cost-effective health care. They produce extremely high returns on investment–many fold higher than accepted thresholds for sound public investment–and the benefits can often be seen in years, not decades”.
The government has set aside $5 million to advance clinical trials for adolescents and young adults with cancer. Additional investment will expand two national clinical quality registries to drive better outcomes for patients with implanted cardiac devices and breast implants.
Details around a further $28 million to support clinical trials under the MRFF are set to be announced in the coming weeks.
“ACTA and its members eagerly await the announcement of further details about how the $28 million will be invested, but the clear prioritisation of clinical trials in this budget will be welcomed across the sector”. Professor Zalcberg said.
On 19 May, the Hon. Greg Hunt MP will attend the Clinical Trials 2017: National Tribute and Awards Ceremony, where he will be talking about the Government’s strong support for clinical trials, clinical registries and networks. The event will form part of celebrations marking International Clinical Trials Day.
ACTA looks forward to welcoming the Health Minister to the event to join us in recognising Australia's outstanding achievements in clinical trials and honouring the people who make them possible.
Rhiannon Tate, Chief Executive Officer, + 61 407 941 260 email@example.com
About the Clinical Trials 2017: National Tribute & Awards Ceremony
The Clinical Trials 2017: National Tribute & Awards Ceremony will be held at the Royal Prince Alfred Hospital in Sydney on Friday May 19 as part of Australian celebrations marking International Clinical Trials Day (celebrated around the world on May 20 each year).
The Hon Greg Hunt MP, Minister for Health and Minister for Sport will present the prestigious ACTA Trial of the Year Award & the inaugural ACTA STInG Excellence in Trial Statistics Award.
Event Partners: MTPConnect, Medicines Australia, the National Health and Medical Research Council, AusBiotech, Research Australia, the Medical Technology Association of Australia.
The Australian Clinical Trials Alliance (ACTA) is a national peak alliance supporting high-quality investigator-driven clinical trials and clinical quality registries within the Australian health system.
Our mission is to promote effective and cost-effective healthcare in Australia through investigator-driven clinical trials and registries that generate evidence to support decisions made by health practitioners, policymakers and consumers.
ACTA brings together more than 50 clinical trials networks, large trial coordinating centres and clinical quality registries working to generate robust evidence for the effectiveness of treatments and to measure their outcomes for patients treated everyday across Australia.
Collectively, ACTA's represents well over 10,000 senior clinicians and researchers working within the Australian healthcare system to improve outcomes and the quality of care.
Over the last decade, our members have conducted or initiated more than 1,000 studies, involving more than 1 million participants and representing over $1 billion in total research investment.
These are the types of studies that are designed to influence clinical practice, inform health policy, and most importantly, improve outcomes for patients.
More about ACTA: www.clinicaltrialsalliance.org.au