Advance Queensland has announced they are funding a new COVID-19 vaccine that is being developed right here in Queensland.
Thanks to their generous contribution of $10 million, along with $3 million from the Australian Government and $3.5 million from The Paul Ramsay Foundation, we could see a vaccine being developed six months earlier than expected.
"Queensland has some of the best scientists and researchers in the World, including those at the University of Queensland who are working around the clock to develop the vaccine. They are the only scientists in the World using unique and proven technology which cleverly tackles the virus by eliciting an immune response more effectively than other vaccines – and this puts Queensland ahead of the game." says Advance Queensland.
The combined $16.5 million in funding will enable the University of Queensland along with its research partners, The Doherty Institute and CSIRO, to start the process of manufacturing the vaccine. On top of this, they will also be able to undertake clinical trials to test the safety and efficacy of the vaccine. If they are successful a vaccine might be available for emergency use in healthcare workers and vulnerable populations in early 2021.
Innovation isn’t new in Queensland - from Smart State to Advance Queensland, these innovation giants have led the way in taking big ideas and turning them into big benefits for our community. Queensland is now the world leader in developing a potential vaccine for COVID-19.