Miriax to support new charity, Parkinsons Research Foundation, in efforts to tackle world’s fastest growing neurodegenerative disease
World leading scientists can now focus more on finding a cure for the world’s fastest growing neurodegenerative disease, rather than worrying about generating their next round of funding, due to an enterprising approach to research devised by two Australian corporate leaders.
Experienced Chairman and former banker, Michael Katz, and retired global CEO, Dr Richard Balanson - who are both personally impacted by Parkinson’s - today officially launched Parkinson’s Research Foundation (PRF), a registered charity focused on finding a cure for the disease, and Miriax, a venture philanthropy fund which already has more than $5 million to invest in projects.
Dr Balanson said the two were established to bring greater consistency to the way research into Parkinson’s disease was funded.
“With the venture philanthropy partner, Miriax, we have a more consistent, ongoing and reliable approach to research compared to the current lengthy and inefficient process researchers currently face in progressing research and therapies,” Dr Balanson said.
“It also provides ongoing, reliable income for the Parkinsons Research Foundation and the projects that it has recognised as being extremely promising.
“This way, the world’s best and brightest researchers can concentrate on what they do best and not spend inordinate amounts of time applying for their next round of funding.”
The PRF is a registered charity that raises and distributes funds to Parkinson’s related projects in a targeted way, focusing on medical and pharmacological research, drug verification through clinical trials, and the development of educational and training materials to develop stakeholders’ understanding of Parkinson’s.
Miriax undertakes venture philanthropy and impact investment, provides consulting services and manages research equipment leasing for targeted Parkinson’s projects that meet the PRF’s requirements. Any profits it receives from successful projects can be donated to PRF to provide future funding certainty or directly reinvested into new research opportunities that meet the PRF’s core objectives.
The two founders of the organisations are supported by a small team led by Sally Mitchell who previously held senior management roles in banking and finance and management consulting.
The launch of the two entities comes as its first funded project - the global release of a first of its kind Parkinson’s Massive Open Online Course (MOOC) – is being unveiled.
Mr Katz said the two new organisations would complement the efforts of the other charities and support organisations for those living with Parkinson’s, by bringing its unique approach to medical research funding to create sustainable change.
“There is a lot of good work being done to help find a cure, but the current process is cumbersome and slow, yielding less than 15 per cent of requested funding and requiring a constant influx of grant proposals,” Mr Katz said.
“You can only imagine how much time is spent on proposals that go nowhere, and the level of uncertainty research teams face about whether they will get continued funding of their projects.
“We’re using our experience in leading and placing the highest levels of governance and commercial rigour for large commercial businesses, to grow the funding pie, accelerate research progress and ultimately bring therapies to market sooner.”
Dr Balanson added that PRF and Miriax would support a small number of the most promising projects through funding and working with researchers to accelerate their projects by applying a commercial focus. This includes an extremely promising, high impact clinical driven project that it expects to announce in the coming months.
“We will be taking a hands-on approach to the management of projects that we become involved in to enhance the dynamics and achieve faster and better results,” Dr Balanson said.
“Any profits earned by Miriax will either be donated to PRF or reinvested into new promising research projects that either stop, repair or cure Parkinson’s.”
Parkinson's - the second most common neurological disease in Australia after dementia - is the fastest growing neurological condition in the world, with incident rates up four per cent per annum in recent years. It affects an estimated 10 million individuals worldwide and over 200,000 in Australia. About 50 Australians are diagnosed every day.
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About us:
About Parkinsons Research Foundation (PRF): PRF is a registered charity, set up by Michael Katz and Richard Balanson, to promote research into the prevention, cure and control of Parkinson's Disease. PRF provides ongoing financial support to a small number of promising projects with which PRF has a close working relationship. PRF takes a hands-on approach to the management of its research projects. PRF representatives will take an active role in each research project’s regular cycle of project reviews to enhance project dynamics and to achieve faster, better results.
About Miriax: Established by Michael Katz and Richard Balanson, Miriax undertakes venture philanthropy in the field of Parkinson’s research, treatment and awareness. As a consulting organisation, it undertakes three core activities: Venture philanthropy, with investments subject to a return funding agreement; management consulting to the research projects to help fast track development; and scientific asset management to ensure projects it invests in have access to scientific equipment required. Miriax explores opportunities for impact investment in the form of venture philanthropy, where returns can be either donated to PRF or reinvested in new opportunities for Parkinson’s research.
Contact details:
Note: Please see attached electronic media kit here, which includes fact sheets, biographies of PRF and Miriax key personnel, images and audio and video news grabs.
For interviews or further information, contact:
Peter Laidlaw, Lighthouse, 0419210306
Aleksandra Miljkovic, Lighthouse 0424341853