MinterEllison has supported the Melbourne Genomics Health Alliance to commercialise the clinical genomics platform known as 'Genomical'. Genomical facilitates access and re-use of genomic data for clinical care, increasing the speed and appropriateness of clinical decisions and, ultimately, improving health outcomes for patients. Genomical was developed by the Alliance (a collaboration between various leading public hospitals and research and academic institutions) and was supported by funding from the Victorian government.
Commercialising Genomical
MinterEllison was engaged to advise on all aspects of the commercialisation of Genomical, which involved establishing a company limited by shares (named 'Transcendomics') whose sole focus will be increasing the implementation of Genomical amongst laboratories and hospitals and seeking further investment to secure Genomical's future. Transcendomics aims to facilitate broader access to genomic testing with the purpose of promoting better health outcomes - initially within Australia, and potentially internationally as well.
Establishing Transcendomics required the expertise to navigate the complexities of joint intellectual property ownership, government funding obligations and differing Alliance member requirements, while ensuring the structure remained attractive to future investors.
MinterEllison worked closely with the Alliance to develop and negotiate arrangements with various stakeholders to manage the above complexities, facilitating the Alliance's goal of making this innovative clinical technology more widely available.
Kylie Diwell commented, "The Genomical platform increases the speed and appropriateness of clinical decisions made using genetic data, ultimately improving health outcomes for patients. We are delighted to have worked closely with the Alliance to support its goal of making this significant clinical technology available more broadly."
The team was led by Kylie Diwell (Partner, Technology, Digital & Data) and James Hutton (Partner, Transaction Solutions) whose combined knowledge and expertise - spanning public sector governance, research and technology commercialisation and equity funding - facilitated the successful establishment of Transcendomics.
Promising initial results for Genomical
To date, Genomical has been used for nearly 20,000 genomic tests. Laboratories that have been using Genomical have reported improved efficiencies with respect to conducting genomic tests.
MinterEllison has been shortlisted in the Financial Times & RSGI Innovative Lawyers Awards Asia-Pacific 2024 in the category of 'Innovative Lawyers in science and technology' for its work on this project.
Tailored commercialisation structures, such as this, which accommodate different stakeholder requirements while remaining attractive to future investors, can facilitate the commercialisation of major clinical technologies developed by our public hospitals and research and academic institutions.
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