The Australian government will combine with non-government organisations to give more than $100 million in the fight to increase brain cancer survival rates.
The government will put up $50 million, which will be coordinated with a $20 million pledge from the Cure Brain Cancer Foundation and $10 million from Andrew Forrest's Minderoo Foundation. The remaining $20 million will come from another philanthropic group which has yet to publicly announce its support.
The investment will be used by the Eliminate Cancer Initiative with the aim of developing "an innovative 'road map' that aims to double survival rates in patients with brain tumours," it was explained in a statement released by the Minderoo Foundation.
Forrest, who established the Minderoo Foundation with wife Nicola, made headlines earlier this year by announcing he would donate $400 million of his wealth to charity. It was the biggest single philanthropic donation in Australia's history.
"I can't imagine anything more devastating than being told that your child, a friend or family member not only has cancer but one of the deadliest forms of all, brain cancer -- a disease that right now, claims a disproportioned and unfair number of kid's lives across Australia every day," Forrest said.
Speaking in Melbourne, Health Minister Greg Hunt said that the new injection of funds could see a breakthrough.
"Now is the moment when we have the opportunity with the new targeted therapies and immunotherapies, with the new proton beam therapy and other treatments, where we can have a real breakthrough in brain cancer."
The disease has seen little progress in the past few decades -- currently, only two patients of every 10 survive beyond five years once being diagnosed with brain cancer. But Forrest has hope that this investment can change that.
"It is our collective belief that soon, when an Australian is diagnosed with brain cancer, their family can know their loved one has a real chance at life," Forrest said.
1600 Australians are diagnosed with brain cancer every year.