UNDER EMBARGO UNTIL 0800 AEDT
Melbourne, 28 October 2020 – BioCurate, an independently operated joint venture between the University of Melbourne and Monash University has announced it has signed a Memorandum of Understanding (MoU) with the global pharmaceutical company AbbVie to bring new medicines to patients faster.
BioCurate aims to drive the successful translation of basic medical research towards the generation of new human therapies and potential cures and by doing so, aims to directly address the barriers that limit the translation and commercialisation of early-stage research. AbbVie is committed to addressing serious health issues, collaborating with hundreds of biotech companies, universities, not-for-profits and government organisations to advance science every year.
Niels Emmerich, AbbVie, Vice President, Search & Evaluation said “An emphasis on collaboration is an important part of our approach to R&D. We look for opportunities to work with partners, like BioCurate, who share our goals for addressing serious health issues. We are committed to nurturing an ecosystem that enables movement of research ideas and inventions into investable ventures, in ways that will create a sustainable pipeline overtime.”
BioCurate has several projects, emanating from the two Universities, that are currently under management in its investment portfolio. Under the MoU, the companies may collaborate on projects of specific interest within the portfolio. In addition, AbbVie will provide scientific advice and commercial perspective for projects within their therapeutic areas of focus (immunology, oncology, gastroenterology, virology, neuroscience, eyecare, women’s health and medical aesthetics), both directly and via participation in BioCurate’s Industry and Scientific Advisory Committee, to help optimise the development pathway of products in BioCurate’s portfolio.
Dr Glenn Begley, CEO of BioCurate, said the partnership with AbbVie is testament to the high caliber of Australian research that is widely recognised not only among the biomedical research community, but also by the pharmaceutical industry locally and abroad.
“BioCurate exists to drive the translation of promising research into new drug therapies by harnessing the knowledge and insights of our scientific community and collaborating with key partners along the development path. We are thrilled that AbbVie has joined our network of local and global industry partners with our mutual goal to advance promising early stage discoveries of new human therapeutics.” Dr Begley said.
Mr Chris Stemple, AbbVie General Manager ANZ said “Australia has had a long-standing reputation as a world leader in medical research, but unfortunately also one for being below average in commercialisation.”
“At AbbVie, we bring people together because we know that collaboration is the key to breaking barriers and exploring new frontiers in science. This collaboration with BioCurate is an exciting example of a partnership that aims to increase the speed at which new treatments are made available to those who need them.” Mr Stemple said.
BioCurate is a bold, collaborative venture, dedicated to delivering benefits to the community by helping to advance Australia research and innovation globally. Jointly formed by the University of Melbourne and Monash University, with support from the Victorian State Government, BioCurate identifies promising biomedical research discoveries and manage their translation into high quality pre-clinical candidates with the aim to develop potential novel human therapeutics. We operate in the under-resourced, yet critical, early phases of therapeutic development to overcome common barriers to success and drive early decisions. BioCurate is operationally independent, with a team of experts that brings decades of scientific and commercial expertise, enabling us to recognise and realise real-world potential and providing a critical bridge between academia and industry.
For more information about BioCurate, visit www.biocurate.com
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About AbbVie in Australia
AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. Our heritage in Australia reaches back more than 80 years and we employ more than 450 people with our therapies currently benefiting more than 40,000 Australians. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments. Recently, we acquired Allergan which immediately diversified our business across several therapeutic areas: Immunology, Oncology, Virology, Neuroscience and Aesthetics.
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