The Centre for Advanced Imaging (CAI) at The University of Queensland (UQ) has formed a strategic alliance with Axiom Molecular Pty Ltd to boost radiopharmaceutical research, development and commercialisation.

Axiom Molecular will use CAI facilities to produce Positron Emission Tomography (PET) radiopharmaceuticals for the diagnosis of cancer and brain disorders under the agreement facilitated by UniQuest, UQ's main commercialisation company.

Director of the CAI Professor David Reutens said Axiom Molecular will establish a specialised Good Manufacturing Practice (GMP) laboratory in the CAI.

"It will be a valuable addition to the capabilities in the state-of-the-art CAI building that is currently under construction. “


Professor Reutens said UQ is the lead institution of the National Imaging Facility, and the agreement will provide researchers around the country with access to a radiopharmaceutical GMP capability to test new radiopharmaceuticals.

“This new collaboration adds considerable value to the CAI, which has received funding not only from UQ but also from the Federal and Queensland Governments.

"Strong industry collaborations mean that world-class CAI research has a better chance of being commercialised, contributing to personalised medicine around the world.”

Axiom Molecular's Managing Director Mathew Farag said the strategic alliance with the CAI, valued at million, was a key ingredient of Axiom Molecular's larger strategy to supply radiopharmaceuticals to public and private hospitals throughout Australia and the Asia Pacific region.

“We quickly recognised the strengths in the capabilities and people within the CAI, and through business discussions with UniQuest, we came to see how we could realise additional value in our relationship with UQ,” Mr Farag said.

“The outcome is this innovative alliance with UniQuest, including our corporate venture investment in MoleQular, which has the potential to deliver a number of new technologies and products to the global radiopharmaceutical market.”

Axiom Molecular has also made an equity investment in MoleQular Pty Ltd, a start-up company formed with UniQuest, to research, develop and commercialise novel radiopharmaceuticals for the diagnosis of cancer and brain disorders.

UniQuest will license a radiopharmaceutical technology, which was discovered by CAI researchers, to MoleQular Pty Ltd.

Axiom Molecular will also fund a number of scholarships for UQ Research Higher Degree students.

UniQuest Managing Director David Henderson said the agreement was the first of its kind for both UQ and Axiom Molecular, a subsidiary of one of Asia-Pacific's largest healthcare enterprises.

“Radiopharmaceuticals are becoming increasingly important for early detection of diseases like cancer and for developing new treatments," Mr Henderson said.

"The formation of MoleQular and the strategic alliance with Axiom Molecular reflects the commitment of UQ and the CAI to work closely with private industry to make world-class university research and infrastructure available for the benefit of society.”