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Peter Beattie Appointed to Medical Research Commercialisation Fund
17 June 2010: Former Queensland Premier and long time champion of Australia’s biotechnology industry, the Hon Peter Beattie, has been appointed as a non-executive Director of the Medical Research Commercialisation Fund.
The Medical Research Commercialisation Fund (MRCF) was established in 2007 as an innovative investment collaboration between Australia’s leading medical research institutes and Statewide and Westscheme Superannuation funds. MRCF commenced operations with seven institutes and support from the Victorian and NSW State governments. Since establishment, membership has grown to 27 institutes and research hospitals spanning Victoria, NSW, Western Australia and Queensland. More recently the WA Department of Health has become a participant and the Queensland and NSW Departments of Health are in the process of joining. MRCF’s member institutes employ over 6,000 researchers with over $700 million annual research expenditure.
The $31.2 million fund is dedicated to providing investment funding for commercialisation of early-stage research discoveries from its member institutes and their affiliated hospitals. The MRCF is managed by Brandon Capital Partners, a leading life sciences fund manager. The fund will support development of the most promising medical discoveries in Australia.
Mr Beattie was Premier of Queensland for nine years to September 2007 and went on to carry out the important role of Queensland's Trade Commissioner to North and South America based in Los Angeles.
“As Premier of Queensland Peter was a champion of commercialising promising new medical technologies. He shares our passion for the industry and has strong commercial skills to match,” stated Dr Chris Nave, Principal Executive of MRCF and a partner of Brandon Capital.
“Mr Beattie is recognised as one of Australia’s longest serving State Premiers and recently retired from his very successful trade commissioner role.
“Under his direction the LA office accumulated nearly $0.5 billion in total trade and investment for Queensland in 2009/10. This was achieved while the American economy was struggling with recession.
The Board is chaired by the Hon Alan Stockdale, former Victorian Treasurer and Minister for IT and Multimedia and a former senior executive of Macquarie Bank for six years. Other directors are:
· Mr Ross King (Managing Director, Goldman Sachs JBWere)
· Ms Denise Allen (Managing Director, Chelcor Pty Ltd)
· Mr Wayne McMaster (Partner, Mallesons Stephen Jacques)
· Ms Winsome Hall (Chairman of Zurich Australian Superannuation Pty Ltd, Chairman ARIA Audit and Risk Management Committee)
Mr Stockdale said that the members of the MRCF Board are pleased to welcome Mr Beattie and are excited by the enormous knowledge and ability, experience and standing Mr Beattie brings to the Board.
“I have known Peter Beattie for many years and have always held him in the highest regard,” Mr Stockdale said.
“His passion for biotech, his interest in commercialisation of Australia’s impressive research achievements along with his detailed knowledge of the North American market will be very substantial assets for the MRCF Collaboration.
“I am sure that all MRCF stakeholders join the Board in welcoming Peter Beattie.”
“As a passionate supporter of Australian biotechnology for over a decade I am delighted and honoured to join the board and continue to be involved with the industry,” stated Mr Beattie.
Medical Research Commercialisation Fund Members
The MRCF member base is comprised of many of Victoria, New South Wales, Queensland and Western Australia’s leading Medical Research Institutes and their affiliated research hospitals.
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Member Institute |
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Victoria |
New South Wales |
Queensland |
Western Australia |
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Alfred Health (Alfred Hospital) |
Centenary Institute of Cancer Medicine and Cell Biology |
Australian Institute of Bioengineering & Nanotechnology |
Telethon Institute for Child Health Research |
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Baker IDI Heart and Diabetes Institute |
Garvan Institute of Medical Research |
Diamantina Institute of Cancer Immunology Medicine |
Western Australian Institute of Medical Research |
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BioDeakin Institute of Biotechnology |
George Institute of International Health |
Institute of Molecular Biology |
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Centre for Eye Research Australia |
Heart Research Institute |
Mater Medical Research Institute |
Departments of Health |
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Florey Neuroscience Institute |
Hunter Medical Research Institute |
Queensland Institute of Medical Research |
Western Australian Department of Health |
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McFarlane Burnett Institute of Medical Research |
Illawarra Health & Medical Research Institute (joining) |
University of Queensland Centre for Clinical Research |
Queensland Department of Health (joining) |
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Melbourne Health |
New England Area Health Authority |
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NSW Department of Health (joining) |
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Murdoch Childrens’ Research Institute |
Victor Chang Cardiac Research Institute |
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Peter MacCallum Cancer Centre |
Woolcock Institute of Medical Research |
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St Vincent’s Institute of Medical Research |
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Walter and Eliza Hall Institute of Medical Research |
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Enquiries
Dr Chris Nave
Medical Research Commercialisation Fund
cnave@brandoncapital.com.au
0403 022 471
www.brandoncapital.com.au
