Transcript Pharmacy Australia Centre of Excellence

Pharmacy Australia Centre of
Excellence - (PACE)
The vision of PACE
“To facilitate world-class, pharmaceutical research and
development, in pursuit of new drug technologies and
strategies that positively impact on human health, by
co-locating the pharmacy profession, industry, education,
research and commercial innovation in state-of-the-art
facilities”.
What is PACE?
• Australia’s leading facility for pharmaceutical research,
education, and drug commercialisation
• Focus for biotransitional research emphasising
commercialisation and marketing and supporting the role of
pharmaceuticals as valuable domestic industry / increasingly
significant earner of export income for Australia
• Unique partnership between pharmacy profession and industry,
the education sector and the Queensland Government
• Only centre in Australia where all phases of pharmaceutical
development will take place in the one precinct – a unique
pharmaceutical / biotech collaboration
• Innovative clustering project that will provide world-class
research, business and education facilities
Who will use PACE?
Upon completion, PACE will be home to a number of educational,
professional and industry organisations, including:
• The University of Queensland School of Pharmacy
• The Pharmacy Guild of Australia
• The Guild Insurance & Financial Services
• The Pharmaceutical Society of Australia
• A number of Australia’s leading biotechnology and
pharmaceutical organisations
• Princess Alexander Hospital
Key Features
• 10,000 sq m of office, laboratory and teaching space to
house School of Pharmacy, The Pharmacy Guild of
Australia, the PSA and other project partners
• 5,500 sq m of leasable laboratory and office space for
pharmacy, biotechnology and other industry tenants
• Education / conference centre
• Meeting rooms
• Synergy with Government initiatives:
–
Queensland State Government – “Smart State”
– Federal Government – “Backing Australia’s Ability”
Proposed Development
The Site
• PACE will be located on 1.7 ha of land at Dutton Park,
adjacent to the Princess Alexandra Hospital
Benefits
• Provide a National Centre for Quality use Medicines
Research
• 650 Positions – Construction
• 450 Position – Long term
• Link with research groups at P.A. Hospital
Benefits
• Provide extra ‘incubator’ space for BioPharma
• Link National Medicine policy research to P.A. and Health
Community
• Provide added Clinical Pharmacy input to P.A. and
Community
Research income graph
• $1.4 million, Academic Detailing Grant, DHAC
• $650,000+, 500MHz flow through NMR, Wellcome
• $1 million+, Pain Therapy Grant, R&D START (Ausindustry)
Funding - $60 million
Options:
3 way spilt with Partners:
UQ/Pharmacy Groups
Queensland Government
Federal Government
Public / Private Partnership
Public / Private Partnership
Benefits to UQ:
• Facilitating greater level of investment
• Accelerating project implementation
• Spreading risk
UQ Objectives
• Expand/upgrade facilities
– Research, postgraduate degrees
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Education/Research links with P.A.
Commercialisation/Development opportunities
Links to Pharmacy profession
Release space on campus
Development of Suitable P.P.P.
Model
Options:
• Capital from shareholders – total control
• Capital from Private sector – cede control to
private sector within agreed framework
Development of an Appropriate
Model
Essential features:
• Resolve site tenure
• Defined concept of sharing of facilities
• Clear understanding of cost/financial capacities
• Clear understanding of risks
• Test model with Private sector
• Discuss with State and Federal Governments
• Adjust in light of concerns
• Proceed to E.O.I.
Opportunities
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Building companies
Traditional debt financiers
Non-Bank Financial Institutions
Money Mangers – Super, Investment Managers
Specialist Infrastructure Funds
Industry banked Super Funds
Need to consider cost of
redeveloping School on St Lucia
Campus
• P.P.P. provides interesting option for realising
University goals of pre-eminence in
Pharmaceutical research and education in
Australia