25 November 2025 – A new landmark report launched today by Omico, confirms precision oncology – the use of genomics to match a person’s tumour DNA to advanced treatments – not only extends the lives of those with incurable cancers, but simultaneously is also creating jobs and fuelling Australia’s economy. Yet without urgent action, many facing a very tough cancer diagnosis will continue to miss out.

Omico’s Impact Report: From Momentum to Mainstream, developed by Australian not for profit leader in precision oncology, Omico, confirms those with incurable cancers, such as metastatic bile duct, ovarian and triple negative breast cancers, when matched to targeted treatments, live up to 50% longer (from 14 to 21+ months), with survival more than doubling for some. But access to precision oncology in Australia remains unavailable to many who could benefit.

In 2024 alone, over 52,000 Australians lost their lives to cancer. Omico receives around 10,000 referrals each year, meaning 1 in 5 Australians living with advanced or incurable cancer currently access precision oncology through Omico. This is proof of the growing need, and a reminder that many more could benefit if this approach were available through the mainstream system.

The value of Omico also goes beyond improving survival outcomes, with the organisation responsible for creating 1540+ new local jobs. It has also attracted over $200 million to Australia from direct foreign investment. 

Every 15 minutes a person is referred to Omico for free testing of their cancer’s DNA (called molecular profiling) and matching to precision treatments or clinical trials. More than 27,580 Australians with advanced, incurable or poor-prognosis cancers have accessed Omico’s programs since 2016, at no cost.

Omico’s contribution has been made possible by more than $300 million in combined public and private investment. The organisation now has a national infrastructure connecting 80 cancer centres, seven accredited laboratories, and clinicians from major metropolitan hospitals to non-metro locations. Over one-third of patient referrals are from rural or regional communities.

The Omico report confirms the power of genomics and precision oncology:

• Australians matched to targeted treatments for their cancer lived up to 50% longer, from 14 to 21+ months, with survival more than doubling for some 
• More than two in three (69%) had actionable biomarkers identified in their cancer, which meant Omico could recommend a treatment matched to those specific biomarkers.

However, most people with rare or incurable cancers can only access molecular profiling and matched treatments if they are referred to Omico, participate in a clinical trial or can afford to pay for it themselves. In the UK, Germany, and Sweden precision oncology is fully integrated into standard cancer care.

“It is unacceptable that access to cancer care in Australia, including for those with incurable cancers, still depends on where you live or how much money you have,” said Professor David Thomas, Omico Founder and Chief Science & Strategy Officer. “Our mates are being left behind. Precision oncology must become standard care in this country. That will enable us to support those diagnosed with the worst kind of cancers to be with their families for longer, while also boosting the Australian economy at the same time.”

Omico’s report highlights that beyond giving hope to those with challenging cancer diagnoses, the organisation is also having a transformative impact on the Australian health and life science economy. The Omico initiatives have:

• Attracted $200M+ to Australia from direct foreign investment 
• Created 1540+ new jobs, including in regional and Indigenous communities
• Generated $84.8 million in local Australian investment
• Avoided $60M+ in out-of-pocket health costs for patients

Omico’s real-world proof points show ‘home-grown’ public/private investment partnerships in precision oncology pays off, but without lasting government support, many Australians with cancer won’t get the chance to benefit.

“We’re thankful for the support received from the Government so far, and we value the ongoing conversations with the Department of Health and the Minister about this critical need,” said Omico CEO, Ian Black. “But time is of the essence. We can’t afford to lose the momentum we’ve worked so hard to build. The opportunity to transform cancer care in Australia is right in front of us, and we need to act now to ensure no one is left behind.”

Omico is calling for sustained national funding to expand this proven approach, starting with those who need it most: people with rare cancer or cancers of unknown primary. 

Event details:

What: Omico’s Impact Report: From Momentum to Mainstream Launch

When: Tuesday 25th November, 11:30am – 1:30pm 

Where: Enid Lyons Alcove, Australian Parliament House, Canberra

Speeches by:

• David Thomas, Omico Founder and Chief Science & Strategy Officer
• Hon Mark Butler MP
• Paul Jeans, Outgoing Chair of Omico
• Richard Vines, Incoming Chair of Omico
• A person with lived experience of advanced cancer 

 

Download the full report: Omico’s Impact Report – From momentum to mainstream

Download the scorecard: Omico’s Impact Scorecard

Dr Mike Freelander, MP for Maccarthur: Adjournment speech in the House of Representatives on 25/11/2025