The Queensland government has thrown a $17 million cash injection to University of Queensland (UQ) to fast track a coronavirus vaccine.
The funding was announced by Queensland Premier Annastacia Palasczuck. It will assist the university to develop a vaccine against COVID-19. UQ is one of six organisations worldwide who have been charged by the Coalition for Epidemic Preparedness Innovations to develop a vaccine.
The funds are expected to cut the time taken to develop an effective vaccine by six months.
She said the funding would support the University of Queensland (UQ) as the only Australian organisation and one of six worldwide to be tasked to develop a vaccine against COVID-19 by the Coalition for Epidemic Preparedness Innovations.
“This is now becoming a serious issue here in Queensland and a serious issue here in Australia and we’ve gotta throw everything we’ve got at it, so $10 million is a great step forward out of a $17 million package,” Palaszczuk said.
“The premier said Queensland is a world leader when it comes to research and the progress that is being made already very encouraging.
Palaszczuk said the funds would allow the manufacture of the vaccine alongside clinical trials.
Professor Paul Young, School of Chemistry and Molecular Biosciences, (UQ) told ABC it was a radical approach.
“We are living through remarkable times and remarkable times sometimes need radical ideas.”
“We’re not cutting any corners in ensuring this vaccine is going to be safe and efficacious in humans, we will go through those clinical studies, but we should be ready to deploy as soon as that is done.”
“With this approach, we should carve about six months off our timeline.”