The Federal Government will allocate $30 million to increase Australia’s research and development capacity through CSL Limited.
This investment forms part of a $235 million project aimed at protecting Australians from disease.
The project will deliver a major expansion in R&D capacity at CSL Limited’s facility in Broadmeadows, Victoria.
It will help ensure that CSL can do medical research that will help save lives, provide lasting benefits to the community, and increase Australia’s readiness to tackle future health threats.
“CSL is a strategically important provider of vaccines, anti-venoms, blood products and diagnostic health products for the Australian community,” Innovation Minister Senator Kim Carr said.
“This investment will help build the infrastructure and develop the capabilities Australian scientists need to create complex, next-generation drugs and deal with future epidemic diseases,” he said.
“CSL plays a unique role in blood fractionation; the development of new vaccines, such as its first-to-market H1N1 vaccine; and the production of anti-venoms for bites that are only inflicted in Australia, for example from brown snakes and funnel-web spiders.
“Australia will benefit from this investment for years to come.”