Update March 2024: Omico and PrOSPeCT

Sydney, Australia – April 19, 2024

About Omico and Precision Oncology

Omico is a national, independent, not-for-profit organisation leading the use of ‘precision oncology’ to improve outcomes for people with cancers in Australia. We do this by bringing together a unique network of stakeholders to accelerate access to genomic/molecular profiling and facilitate the delivery of genomic cancer medicine clinical trials to thousands of Australians.

Genomic medicine has changed the oncology landscape. Precision oncology uses genomic/molecular profiling to detect unique variations in patients’ cancer tumours, enabling us to predict, prevent, diagnose and treat cancer at an individual level. Precision oncology is the future for all cancer treatment and has the potential to increase Australia’s cancer survival rates and improve patient outcomes.

Omico’s mission is to accelerate and embed the use of precision oncology in our healthcare system, matching a patient’s cancer profile to clinical trials conducted locally with new and innovative targeted treatments.

About PrOSPeCT – the largest oncology genomics initiative in Australia

PrOSPeCT (Precision Oncology Screening Platform Enabling Clinical Trials) is our landmark precision oncology initiative, enabled by public-private funding and partnerships totalling over $185M, including $61.2M grant funding from the Australian Government.

By the end of 2025, PrOSPeCT will have provided free genomic profiling to more than 23,000 Australians with advanced or incurable cancers and identified potential matches for patients to clinical trials with new targeted therapies. As part of this process, PrOSPeCT is creating skilled jobs, building Australia’s capabilities and infrastructure in cancer research and care, and strengthening our position as a premier destination for precision oncology trials.

Innovative and collaborative initiatives like PrOSPeCT are fundamental to the pursuit of delivering world-class cancer outcomes for all Australians in an affordable, equitable  and sustainable way, and ensuring we remain internationally competitive and at the forefront of research and discovery regarding cancer.

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