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Pharmacy Australia Centre of Excellence - (PACE)

Pharmacy Australia Centre of Excellence - (PACE). The vision of PACE.

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Pharmacy Australia Centre of Excellence - (PACE)

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  1. Pharmacy Australia Centre of Excellence - (PACE)

  2. 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”.

  3. 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

  4. 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

  5. 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”

  6. Proposed Development

  7. The Site • PACE will be located on 1.7 ha of land at Dutton Park, adjacent to the Princess Alexandra Hospital

  8. 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

  9. 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

  10. 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)

  11. Funding - $60 million Options: 3 way spilt with Partners: UQ/Pharmacy Groups Queensland Government Federal Government Public / Private Partnership

  12. Public / Private Partnership Benefits to UQ: • Facilitating greater level of investment • Accelerating project implementation • Spreading risk

  13. UQ Objectives • Expand/upgrade facilities • Research, postgraduate degrees • Education/Research links with P.A. • Commercialisation/Development opportunities • Links to Pharmacy profession • Release space on campus

  14. 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

  15. 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.

  16. Opportunities • Building companies • Traditional debt financiers • Non-Bank Financial Institutions • Money Mangers – Super, Investment Managers • Specialist Infrastructure Funds • Industry banked Super Funds

  17. 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

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