As part of our financial sustainability commitment, we implemented a cost recovery model to the service we are providing. While the donation of samples and data are totally voluntary and free for research use, the cost incurred are the administrative effort for sample procurement and respective services. We have been able to subsidise the cost by 40-50% (academics) and sometimes share the cost across multiple projects thanks to ongoing funding support from Victorian Department of Health through Victorian Cancer Agency. Currently the cost recovery supports 15-20% of our operating expenses.
We tailor our cost recovery schedules to cater to academic and commercial ventures. To our partners, in recognition of their significant in-kind contributions (e.g. consortium members), we offer a 20% discount.
While we can’t fully offset the cost associated to biobanking services, we strive to create affordable and transparent pricing for the research community. We publish the cost recovery schedule for our standard services online and work towards benchmarking with sector market.
We are committed to continually improving the affordability of our resources and services.