Live Breaking News & Updates on Melbourne Medical Precinct

SYDNEY, June 22, 2023 /PRNewswire/ Australia's newest biotech incubator is calling for innovative early-stage Australian biotechs to take up residency in its much-awaited Melbourne-based facility. The "Jumar Bioincubator" will be supported by cash and in-kind contributions of approximately $45 million over ten years from its founding partners, global biotech leaderCSL,WEHI, andThe University of Melbourne, as well as an initial investment of $25 million fromBreakthrough Victoria. The incubator will connect early-stage and scaling biotech ventures with state-of-the-art facilities, infrastructure, and support needed to progress discoveries towards real-world treatments, while enhancing the opportunity to commercialise medical research. This will help to support research translation - the process of moving innovative medical discoveries through the research pipeline to become new products - for businesses in areas such as pharmaceuticals, diagnostics, medical devices, digit ....

New South Wales , Sally Ann Williams , Jim Mccluskey , Andrew Nash , Jumar Bioincubator , University Of Melbourne , Head Of Research , Melbourne Biomedical Precinct , Global Headquarters , Ann Williams , Cicada Innovations , Chief Scientific Officer , Deputy Vice Chancellor , Melbourne Medical Precinct , Breakthrough Victoria , June 22 , 023 Prnewswire Australia 39s Newest Biotech Incubator Is Calling For Innovative Early Stage Australian Biotechs To Take Up Residency In Its Much Awaited Melbourne Based Facility The Quot Jumar Bioincubator Will Be Supported By Cash And Kind Contributions Of Approximately 45 Million Over Ten Years From Founding Partners , Lobal Biotech Leadercsl , Ndthe University Of Melbourne , S Well As An Initial Investment Of 25 Million Frombreakthrough Victoria The Incubator Will Connect Early Stage And Scaling Biotech Ventures With State Art Facilities , Nd Support Needed To Progress Discoveries Towards Real World Treatments , Hile Enhancing The Opportunity To Commercialise Medical Research This Will Help Support Translation Process Of Moving Innovative Discoveries Through Pipeline Become New Products For Businesses In Areas Such As Pharmaceuticals , Medical Devices , Digital Health , Nd Health Oriented Ai The Name Was Inspired By Word Quot Jumar , Hich Refers Toa Mountaineering Technique By Which Climbers Receive The Support Necessary To Efficiently Scale And Speedily Ascend Challenging Mountains Providinga First Home For Young Aspiring Biotech Ventures ,