The Australian government’s pledge of $750 million to enhance clinical trial activity between 2022 and 2032 is set to strengthen Australia’s position as a global hub for clinical research. Joshua Stent, CEO of Momentum Clinical Research, recently joined Sky News to discuss the transformative potential of this funding and how it will elevate clinical research across the region.

“We hope to attract more sponsors and clinical research organisations to this part of the world,” Stent explained. “Australia has a fantastic healthcare system and highly experienced teams dedicated to delivering critical research.” By bolstering clinical trials, Stent believes the funding will reinforce Australia and New Zealand’s reputation for quality, efficiency, and access in clinical research.

Clinical trials already contribute almost $1.4 billion annually to the Australian economy, with over 18,000 trials registered in the past 30 years. The government’s investment aims to increase this impact by expanding trial activity, enhancing recruitment capabilities, and accelerating patient access to new treatments. Stent elaborated on how Momentum Clinical Research is uniquely positioned to support this growth, providing a comprehensive, streamlined solution for sponsors looking to conduct trials in Australia and New Zealand.

“We come in at Phase II to Phase IV, where we test the efficacy of investigational drugs,” Stent said. “Our 13 sites across the Trans-Tasman region enable us to be more efficient in trial delivery, recruit more participants, and create access to drugs that people wouldn’t otherwise have access to here in Australia and New Zealand.”

Momentum’s integrated network of clinical trial sites offers sponsors and CROs the advantage of streamlined study management, faster start-up times, and reliable recruitment. By fostering collaborations with international sponsors and CROs, Momentum Clinical Research plays a pivotal role in advancing medical treatments while providing more Australians and New Zealanders with early access to innovative therapies.

As the government’s funding begins to flow, Momentum Clinical Research is well-prepared to drive growth and innovation in the clinical trial landscape, attracting global attention and improving healthcare outcomes for the region. With the support of dedicated funding and a world-class healthcare system, Australia and New Zealand are on track to become key players in the global clinical research industry.