Innovation News

Moderna and Australian government’s 10-year deal to improve healthcare system

Jomar Teves Aug 24, 2023

2 min read

A stakeholder survey and discussion paper on the local RiboNucleic Acid (RNA) technology business has been released following a government agreement with Moderna to create vaccine production capability in Melbourne.

Authored by the Department of Industry, Science and Resources (DISR), the discussion paper was for the exploration of the areas that Australia’s research and development efforts should be focused on, including the development of different vaccines for human-animal diseases, RNA modalities and delivery systems as well as outline the ways Australia can be a “major player” in the Asia-Pacific region with significant potential for future growth and innovation.

RNA discussion paper

As part of a 10-year deal between Moderna and Australia’s federal and Victorian governments, a stakeholder survey and discussion paper about the local RiboNucleic Acid (RNA) technology industry was released.

Authored by the Department of Industry, Science and Resources (DISR), the discussion paper examines the challenges of developing a local RNA industry as it grows internationally as well as understands the areas that Australia’s research and development efforts should be focused on, including the development of different vaccines for human-animal diseases, RNA modalities and delivery systems.

Because RNA is a necessary component of all living organisms, it has enormous potential to promote innovation and progress in biotech, medicine, and agriculture. The paper also establishes the emergence of a new class of RNA therapeutics. According to Sector and Science Minister Ed Husic, the advantages of expanding the local sector include the potential to rebuild onshore sophisticated manufacturing, boost sovereign capabilities, and create more “highly skilled” local jobs.

Government’s investment

The paper also discussed the opportunity for Australia to be a “Major Player” in the Asia-Pacific region, with enormous future economic and innovation potential. It cited the country’s high-quality medical and agricultural research and healthcare facilities and a stable political, regulatory, and socioeconomic climate as advantages for a healthy RNA sector.

As a result, the federal government invests through the NRF totals $1.5 billion in medical manufacturing. It has also invested in prospective biomedical industries, with $1 billion going to advanced manufacturing and another $1 billion to key technology.

In conclusion, Moderna’s collaboration with the Australian Government has released a discussion paper on the local RiboNucleic Acid (RNA) technology industry. This work allows Australia to be a key participant in RNA technology in the Asia-Pacific region.

This is due to Australia’s remarkable track record, which has overseen some fundamental advances that have led to the global development of mRNA vaccines. With this paper, Australia has the potential to become a global producer of innovative RNA vaccine treatments for ailments such as COVID-19, cardiovascular disease, human influenza, and animal vaccinations. The survey and consultation on Australia’s RNA technology industry will be conducted through October 16, 2023.

Jomar Teves

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After four years in business school and working for multinational clients, Jomar believes he can improve the world through his writings via Public Spectrum, by informing the public on the latest news and updates happening around the government and society. Jomar has eight years experience as a writer and has a degree in Business Administration and Entrepreneurial Marketing.