SYDNEY, May 13, 2013 /PRNewswire/ -- The University of Sydney and ResMed Limited today announced a new partnership that includes significant and long-term funding of research at the University, ultimately benefitting the hundreds of millions of sufferers of sleep-disordered breathing worldwide.
Under an agreement recently reached between the parties, ResMed Limited will pay $AU25 million to the University to support its work, including the establishment of two perpetual academic chairs called the ResMed Chair of Sleep Medicine for sleep-disordered breathing with a focus on chronic disease and the ResMed Chair of Biomedical Engineering with an emphasis on bioinformatics research, as well as funding for research in related areas. The agreement also provides for the settlement of proceedings between the parties in the Australian Federal Court regarding a dispute over an earlier licensing agreement.
"Sleep-disordered breathing is a global health problem affecting one in five adults, with broad and deep implications in other chronic conditions, such as hypertension and heart failure," said ResMed Chief Executive Officer Michael Farrell. "With this partnership, we look forward to the University's research revealing new information on how to battle this costly and life-threatening condition."
ResMed is an innovator and pioneer in developing products for the treatment of sleep-disordered breathing and respiratory conditions including COPD. The company's Sydney campus is a manufacturing and innovation centre and headquarters for its Asia-Pacific operations and it employs more than 1,200 people locally.
The University's Vice-Chancellor, Dr Michael Spence expressed his appreciation to ResMed for such a positive contribution and said this agreement "would allow the University to further develop its path-finding research in these critically important areas, as well as provide future opportunities for our researchers."
The University of Sydney's Medical and Health Sciences Research Program is world-class, as evidenced in the 2012 Excellence in Research for Australia report which rated this program "well above world standard."
ResMed is a global leader in the development, manufacturing and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing. The company is dedicated to developing innovative products to improve the lives of those who suffer from these conditions and to increasing awareness among patients and healthcare professionals of the potentially serious health consequences of untreated sleep-disordered breathing. For more information on ResMed, visit www.resmed.com.
SOURCE ResMed Limited