Venture grants scheme

In 2006, we created a new Venture Grants Scheme, to add a component of 'blue sky' research to the range of projects we supported.

The philosophy was to provide support for excellent researchers who had good but risky ideas that could make a major difference to cancer knowledge and treatment. Adventurous but inspired projects of this type don't often compete favourably for funding awarded on conventional criteria.

Funding the Venture Grants Scheme

A new approach to funding was used. We asked an expert Venture Grants Committee to select 5 promising projects from applications received. The committee was also given the task of mentoring the researchers, and monitoring their progress against carefully planned stop/go milestones.

We provided seed funding for the 5 projects. At the same time we circulated information about the scheme, and projects, seeking donors who might appreciate the high-risk, high-gain research, the support from the expert committee and the clear milestones that would mean projects would only be funded for as long as they were making good progress.

Projects

1. Scanning the genome for new targets in cancer

Dr Warren Alexander, Dr Benjamin Kile, Prof Andreas Strasser 
The Walter and Eliza Hall Institute of Medical Research.

2. Drosophila as novel tool for anti-cancer therapy

Dr Anthony Brumby, Dr Patrick Humbert, Dr Helena Richardson, Dr Ian Street
Peter MacCallum Cancer Centre.

3. Identification of novel breast cancer suppressor and chemotherapeutic drug sensitivity genes using shRNA-mediated functional genomics screens

A/Prof Ricky Johnstone, Dr Ross Hannan, A/Prof Grant MaArthur, Dr Rick Pearson
Peter MacCallum Cancer Centre

4. The biological effects of synchroton microbeam radiation therapy on normal and abnormal

Prof Peter Rogers, Prof Rob Lewis, Dr Imants Svalbe, Prof Bryan Williams, Dr David Blakey
Monash University

5. Developing lead compounds to target breast cancer by specific inhibition of the LMO4 oncogene

Dr Jane Visvader, Dr Ian Street, A/Prof Geoffrey Lindeman, Dr Keith Watson, Dr Marie-Liesse Asselin-Labat
The Walter and Eliza Hall Institute of Medical Research.

Progress

After almost 3 years we're pleased that 4 of the 5 projects have been able to meet multiple milestones. While results at this stage are preliminary, the committee has been impressed by the excellence of the scientific work and is looking forward to successful outcomes in due course.

For more details contact Research@cancervic.org.au.

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