Australia Market
Australian Biotechnology
Australian biotechnology is a burgeoning success story
A rare combination of excellent research facilities, innovative scientists, a can-do-attitude and a strong but flexible regulatory regime have made Australia a biotechnology powerhouse.
In an international benchmarking study undertaken by the Economist Intelligence Unit in November 2005, Australia was ranked against the US, UK, Germany, Japan, Singapore and India across a range of indicators including clinical trials, the intellectual property system, the regulatory environment, investment and the business environment. Australia ranked second overall and first as a location to conduct clinical trials, a testament to the country’s deep roots in scientific, agricultural and medical research.
The country is home to a thriving network of 427 companies (up from 190 in 2001) whose core business is biotechnology. Of these, 49 per cent are involved in human therapeutics, 16 per cent in agricultural biotech and 13 per cent in diagnostics. Another 625 companies focus on medical devices. (Figures are based on data in Hopper & Thorburn's BioIndustry Review 2007 – Australia and New Zealand.)
The biotechnology sector is distinguished from other markets by its flexibility, open approach and focus on partnering for both primary research and commercialisation. BioIndustry Review 2007 reports that 345 alliances were announced between Australian life sciences companies and organisations based overseas – 68 per cent of all alliances announced. These included global licence and R&D collaboration between:
In an international benchmarking study undertaken by the Economist Intelligence Unit in November 2005, Australia was ranked against the US, UK, Germany, Japan, Singapore and India across a range of indicators including clinical trials, the intellectual property system, the regulatory environment, investment and the business environment. Australia ranked second overall and first as a location to conduct clinical trials, a testament to the country’s deep roots in scientific, agricultural and medical research.
The country is home to a thriving network of 427 companies (up from 190 in 2001) whose core business is biotechnology. Of these, 49 per cent are involved in human therapeutics, 16 per cent in agricultural biotech and 13 per cent in diagnostics. Another 625 companies focus on medical devices. (Figures are based on data in Hopper & Thorburn's BioIndustry Review 2007 – Australia and New Zealand.)
The biotechnology sector is distinguished from other markets by its flexibility, open approach and focus on partnering for both primary research and commercialisation. BioIndustry Review 2007 reports that 345 alliances were announced between Australian life sciences companies and organisations based overseas – 68 per cent of all alliances announced. These included global licence and R&D collaboration between:
- Cytopia and Novartis
- Biota and Boehringer Ingelheim
- The Walter and Hall Institute and Genentech
- Psivida and Pfizer
Treatments for chronic obstructive pulmonary disease, the Kapanol-brand analgesic, continuous-wear contact lenses, synthetic Omega 3 fatty acids, and a vaccine for the human papilloma virus all have their roots in intellectual property developed jointly between Australian biotechnologists and international companies. The depth and credibility of our biotechnology sector makes your biotechnology investment and partnering decision simple.
In changes that apply from 1 July 2007, the Australian Government has recognised that multinational enterprises (MNEs) increasingly hold intellectual property in the jurisdiction of their corporate headquarters. Access to a 175 per cent R&D tax concession will now be extended to MNEs who do their R&D in Australia but hold the intellectual property overseas.
In changes that apply from 1 July 2007, the Australian Government has recognised that multinational enterprises (MNEs) increasingly hold intellectual property in the jurisdiction of their corporate headquarters. Access to a 175 per cent R&D tax concession will now be extended to MNEs who do their R&D in Australia but hold the intellectual property overseas.
Professor Ian Frazer, Director, UQ Diamantina Institute for Cancer, Immunology and Metabolic Medicine (DI), University of Queensland.