Premier injects $17 million to fast-track coronavirus vaccine

Queensland Premier Annastacia Palaszczuk has announced a $17 million funding injection to fast-track a vaccine for coronavirus by six months.

State and federal governments are working together with the Paul Ramsay Foundation to support the University of Queensland's School of Chemistry and Molecular Biosciences to further develop a promising vaccine.

Premier Annastacia Palaszczuk speaks to the media at the University of Queensland on Sunday.Credit: Picture: AAP/Jono Searle

Ms Palaszczuk said the funding, provided through the Advance Queensland strategy, would move a potential vaccine forward.

"Coronavirus has already killed thousands throughout the world," she said. "We’re doing everything we can to put an end to the devastation."

Innovation Minister Kate Jones said the funding boost could reduce the time it takes to develop an effective vaccine – 12 to 18 months – by six months.

"If they can achieve this, it could mean there will be a vaccine available for emergency use among healthcare workers and vulnerable populations in early 2021," she said.

A promising vaccine is being fast-tracked in Queensland.Credit: Jocelyn Garcia

And researcher Dr Keith Chappell said by running clinical trials while simultaneously manufacturing the vaccine, the moment they have success in the clinic, doses will be ready to go.

"Today's announcement means we can act now to make sure we can roll out a safe and effective vaccine as quickly as we can to protect vulnerable people, including the elderly and healthcare workers," Dr Chappell said.

UQ was the only Australian organisation and one of six globally to be tasked by the Oslo-based Coalition for Epidemic Preparedness Innovations with developing a vaccine.

On Wednesday, the Queensland researchers announced they were ready to begin clinical trials of a potential treatment for COVID-19 by using two existing drugs.

Professor David Paterson said the drugs proved highly effective when first used against the virus in test tubes.

"We’re now ready to begin patient trials with the drugs, one of which is an HIV medication and the other an anti-malaria drug," he said.