The Victorian Government is growing the state’s world-leading medical research sector, securing the retention of the national headquarters of the Centre for Commercialisation of Regenerative Medicine (CCRM) Australia.

CCRM speeds up the commercialisation of regenerative medicine technologies and cell-based therapies to make them available to Victorians, and the world, sooner.

Retaining CCRM Australia’s national HQ in Melbourne will allow Victoria to build upon its position as Australia’s undisputed leader in research and development of regenerative medicines and pharmaceuticals.

Regenerative medicine is an emerging field of clinical treatments that uses stem cells or bioengineered cells to treat injuries and diseases by harnessing the body’s regenerative capabilities.

Institutions such as the Peter MacCallum Cancer Centre are leading Australia’s delivery of new therapies, using Car-T cell immunotherapy products to precisely target cancer cells. Cell Therapies, Peter Mac’s commercial manufacturing facility, is partnering with global biotech companies to manufacture cell therapy products.

On the research front, the Hudson Institute of Medical Research, Monash Health and Monash University are conducting clinical trials into the use of stem cells to treat conditions such as stroke, lung diseases and organ scarring.

Based at the Australian Regenerative Medicine Institute within Monash University, Clayton, CCRM Australia was established in 2016 through Victorian Government funding. The centre is the Australian node of the renowned Canadian-based centre of excellence currently operating in Toronto.

CCRM Australia has most recently partnered with the BioMelbourne Network to host a series of virtual seminars titled The BioBusiness Insight: Opportunities in Regenerative Medicine to connect local businesses with international markets.

The BioBusiness Insights series, sponsored by the Victorian Government, is running until October and showcases Victoria’s capabilities to a wide audience across the Asia-Pacific region. Victoria has around 2,000 life science businesses, generating approximately $21 billion in revenue annually and employing 31,400 people.