CSL marks centenary with $25 million fellowship program

Biotechnology company CSL (ASX:CSL) observed a significant milestone yesterday (25 April) — 100 years of operation. As part of its birthday celebrations, the company is creating a flagship $25 million fellowship program for early-stage and translational research in Australia.

From its humble beginnings as a small branch of the Quarantine Department in 1916, CSL has grown into a $45 billion global biopharmaceutical company. With a focus on developing and delivering lifesaving and life-enhancing therapies to patients all around the world, the company operates in more than 30 countries, manufactures across three continents and employs more than 16,000 people.

At the CSL Centenary Celebration Gala, held earlier this month, CEO Paul Perreault announced the establishment of the CSL Centenary Fellowships — high-value awards available to outstanding Australian researchers seeking to consolidate their career and undertake medical research in an Australian academic institution. The fellowships selection committee will be chaired by highly respected molecular biologist Professor Ashley Dunn.

Two five-year fellowships will be awarded each calendar year for 10 years, with the applications for the first two fellowships set to open on 1 June 2016. The total value of each award will be $1.25 million, paid in annual instalments of $250,000 to the employing institute.

“We believe Australia’s medical research community is world class and a rich source of potential discoveries to address the world’s unmet medical needs,” said Dr Andrew Cuthbertson, CSL chief scientific officer and director of research and development.

“Biotherapeutics is a fast-growing field with huge potential and we hope that the recipients of these fellowships will one day help to broaden the pool of lifesaving, life-changing medicines by helping us to bring more new products and technologies to market, particularly for patients with rare and serious diseases.

“Additionally, we hope some of the Australian researchers currently working around the globe will seize this opportunity to come home and perform their vital research here.”

The fellowships are just one of the ways the company is marking its centenary, with other special events and programs set to include gala birthday parties for CSL staff and Australia’s leading scientists and academics, a Melbourne Museum exhibition and the release of a specially commissioned historical documentary film and a book.

“CSL has an important heritage but an even brighter future,” said Perreault. “These centenary celebrations are a tribute and a testament to our values, science, people and the patients we serve — yesterday, today and tomorrow.

“We look forward to engaging with patients, colleagues, research professionals, academics, physicians, scientists and governments, and across the globe as we celebrate our birthday and the importance and promise of innovation and medical research.”

CSL (ASX:CSL) shares were trading 0.554% lower at $104.07 as of around 1 pm on Tuesday.