The $20 billion Medical Research Future Fund needs to go ahead with or without the $7 Medicare co-payment, according to Australia's leading scientists.
The co-payment announced in the May budget was intended to pay for the fund, but has met widespread criticism.
Internationally renowned Australian scientist Sir Gustav Nossal says the promised $20 billion could be raised by other means.
Sir Gustav is part of a group of leading Australian scientists and health researchers who are campaigning for the fund to go ahead.
"The $7 co-payment for someone going to the doctor is something on which I am not going to express an opinion because I'm not a medical economist," Sir Gustav told reporters at the campaign launch in Melbourne on Tuesday.
"But I believe the $20 billion can be reached with or without the co-payment."
Sir Gustav said the money could come from consolidated revenue instead.
"When you look at it as a proportion of the total health expenditure, which is nearly 10 per cent of GDP, the sum isn't so absolutely humungous," he said.
Sir Gustav said Australia spent about $180 billion a year on health, which would be reduced in the long term by the $20 billion fund.
The campaign's founding chairman, Alastair Lucas, has stood down from the position after he was diagnosed recently with a brain tumour.
"What helps me through my journey is that medical research will ultimately cure these tumours," he said.
"It won't be next year or the year after, but in 10, 20 years, I'm totally confident that we'll have a complete cure."
Mr Lucas said investing $20 billion in the Medical Research Future Fund could be justified on economic grounds alone, because it would create a huge demand for jobs and exports.
HIV expert Professor Sharon Lewin said disease was a prime example of the "absolutely spectacular advances" that had been made quickly when the resources were available.
Prof Lewin said HIV was only discovered in 1983 and was a universal death sentence.
"And here we are in 2014, where HIV is a long-term, manageable, chronic disease, treated with one tablet a day and people having a normal life expectancy," she said.
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