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Pharmacy Australia Centre of Excellence - (PACE) Pharmacy Australia Centre of Excellence - (PACE)

The vision of PACE “To facilitate world-class, pharmaceutical research and development, in pursuit of 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”.

What is PACE? • Australia’s leading facility for pharmaceutical research, education, and drug commercialisation 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-

Who will use PACE? Upon completion, PACE will be home to a number of 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

Key Features • 10, 000 sq m of office, laboratory and teaching space to 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”

Proposed Development Proposed Development

The Site • PACE will be located on 1. 7 ha of land at The Site • PACE will be located on 1. 7 ha of land at Dutton Park, adjacent to the Princess Alexandra Hospital

Benefits • Provide a National Centre for Quality use Medicines Research • 650 Positions 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

Benefits • Provide extra ‘incubator’ space for Bio. Pharma • Link National Medicine policy Benefits • Provide extra ‘incubator’ space for Bio. Pharma • Link National Medicine policy research to P. A. and Health Community • Provide added Clinical Pharmacy input to P. A. and Community

Research income graph • $1. 4 million, Academic Detailing Grant, DHAC • $650, 000+, Research income graph • $1. 4 million, Academic Detailing Grant, DHAC • $650, 000+, 500 MHz flow through NMR, Wellcome • $1 million+, Pain Therapy Grant, R&D START (Ausindustry)

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

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

UQ Objectives • Expand/upgrade facilities – Research, postgraduate degrees • • Education/Research links with 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

Development of Suitable P. P. P. Model Options: • Capital from shareholders – total 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

Development of an Appropriate Model Essential features: • Resolve site tenure • Defined concept 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.

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

Need to consider cost of redeveloping School on St Lucia Campus • P. P. 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