Statutory review of the Medical Research Future Fund Act 2015

The statutory review examined:

• key operational aspects of the MRFF including the establishment and management of Special Accounts, the mechanisms for transferring MRFF funds, and governance and reporting arrangements. (As per subsection 62(1) of the MRFF Act).
• whether MRFF funding has complemented and strengthened other Commonwealth support for medical research and innovation, and influenced overall government financial support in this field. (As per subsection 62(2) of the MRFF Act).

The review confirms the MRFF Act is meeting its goal of improving the health and wellbeing of Australians through targeted funding for medical research and innovation. It also highlights the MRFF’s role in driving strategic investment, supporting translational research, and addressing unmet health needs—particularly among underserved populations.