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A powerhouse for science and innovation
Excellent research facilities, world-class scientists and a strong but flexible regulatory regime have made Australia a powerhouse of biotechnology and pharmaceutical innovation.
Australia is home to a thriving network of 470 biotechnology companies. Of these, 49 per cent are involved in therapeutics, 15 percent in agricultural biotechnology and 13 per cent in diagnostics.
In 2008, the BioIndustry Review reported that 399 alliances had been announced involving Australian life science companies in the previous 12 months. Of these, over 70 per cent were with international organisations – 101 with North American organisations, 100 with European organisations and 57 with Asian organisations (Source: Hopper and Thorburn, 2008 BioIndustry Review: Australia and New Zealand).
Australia has a well established medical device industry, a strong position in nanobiotechnology and is internationally regarded for its expertise in stem cell research.
Australian biotechnology companies continue to develop and bring drugs to market, including:
- CSL – the cervical cancer vaccine – Gardasil – marketed by Merck & Co
- Biota – the influenza drug Relenza – marketed by GlaxoSmithKline
- Peptech (now Arana Therapeutics) – IP related to anti-tumor necrosis factor (TNF) drugs – Remicade – marketed by Centocor, and Humira – marketed by Abbott Laboratories
- Sirtex Medical – the liver cancer treatment – SIR-Spheres
- Acrux – a spray on hormone replacement therapy for women – EvaMist – launched in the US in April 2008 through KV Pharmaceuticals
The Australian Government places a premium on world-class innovation and actively promotes R&D. Multinational enterprises that conduct R&D in Australia, but hold the associated IP in their home jurisdictions, can gain access to an R&D tax concession worth 175 per cent of their R&D investment. |
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Australia offers investors in biotechnology:
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