The Board of the Neuroscience Institute of Schizophrenia and Allied Disorders (NISAD) awarded the Chair to the joint bid, one of six high quality submissions from New South Wales' major universities and Institutes.
Executive Director, NISAD Deborah Willcox, said: "This is a significant milestone for NISAD, UNSW, POWMRI and most importantly, for sufferers of schizophrenia and their families."
"The Professorial Chair will drive the research effort of some of the world's leading experts in schizophrenia, based here in NSW and overseas. It is the beginning of a very exciting chapter in NISAD's effort to find a means to cure and prevent this devastating disease."
"The quality of the joint bid from UNSW and POWMRI was extremely impressive and NISAD is very proud to enter into this prestigious partnership," Ms Willcox said.
In early 2004, the New South Wales Minister for Health, Morris Iemma, announced a recurrent grant of $500,000 to NISAD to establish a Chair of Schizophrenia Research.
NISAD will fundraise to bring the total figure to $1million per annum. In addition, over the next 5 years UNSW and POWMRI will contribute a further $3 million.
Following a lengthy period of consultation, NISAD's research community determined that the Chair should be an expert in the field of developmental neurobiology.
"Now that the host institution has been determined we can jointly embark on the search for a high calibre scientist," Ms Willcox said.
"UNSW is one of Australia's most respected universities. Its reputation will enhance our ability to attract the best national and international candidates."