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Fund formed to support biomedical research

The Turnbull government has launched a $500 million investment fund to commercialise Australian biomedical research.

The Biomedical Translation Fund was announced on 3 August by science minister Greg Hunt and health minister Sussan Ley.

Hunt said the fund was now seeking applications from “private life sciences fund managers” as co-investors. The government has pledged $250m, which will be matched by private sector contributions.

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