Today’s passing of the legislation for the Medical Research Future Fund (MRFF) in the Senate has brought hope not just to the Australian health and medical research sector but also to the entire country.
The MRFF is expected to deliver more than $400 million in disbursements to researchers over the next four years, building to $1 billion per year within the decade. This funding is in addition to that allocated to the National Health and Medical Research Council (NHMRC).
NeuRA’s Executive Director, Professor Peter Schofield said, “The fund couldn’t come at a better time. With our ageing population, and the news today that half of all Australians are living with chronic illnesses, we cannot afford not to invest in medical research to find new ways to diagnose, treat and prevent debilitating diseases.”
”This significant step opens the door to a new and innovative stream of funding for medical research and innovation which will provide enormous benefits for Australia in the years to come.”
The MRFF will be administered by an independent expert advisory board, the members of which will be announced shortly by the Minister for Health.
