An indemnity is a contractual promise by one party to the other party from and against certain specific actions, claims or losses. Commercial sponsors proposing to engage in clinical trials or other research must provide indemnification by using the Medicines Australia Standard Form of Indemnity for Clinical Trials.
A current public/products liability certificate of insurance from the commercial sponsor must be provided before final approval for the research proposal can be given. It must name the insured corporate entity acting as the commercial sponsor. Insurance must contain coverage for a minimum amount of AUD$10,000,000 for any one occurrence and in annual aggregate.
Metro South Research aims to act as an intermediary between Metro South Health clinicians, researchers and industry partners by supporting the experimental development required to make a discovery commercially viable, so it can then attract private capital.
Metro South Health is interested in consulting with industry partners, research and business communities and other interested parties on how best to achieve better translation of research into commercial outcomes.