AusBiotech 2024 to Highlight Global Areas of Interest, Current Trends, and Research Directives in Australia’s Diverse Biotech Industry

AusBiotech 2024 will run from October 29 to November 1, featuring over 260 speakers and 60 sessions. Keynote Dr. Daniel Timms of BiVACOR will discuss artificial heart advancements. Philipp Ernst (PsiQuantum) will explore quantum computing’s role in biotech, and CEO Rebekah Cassidy will lead a panel on Australia’s medical manufacturing future. Dr. Intan Oldakowska (Earflo) will present her medtech innovation journey, while AusBiotech’s Early-Stage Innovation Forum will showcase emerging leaders pitching new biotech projects. Cochlear’s CEO Dig Howitt and CSL’s CFO Joy Linton will discuss onshore company development. Astronaut Michael Lopez-Alegria will share his medical research experiences aboard the ISS. A panel led by Dr. Anna Lavelle AM will address the underrepresentation of women in biotech leadership. Michael Hund (EB Research Partnership) will outline business models accelerating cures for rare diseases, while Dr. Robert Marino (Qubit Pharmaceuticals) will discuss AI, robotics, and quantum in drug discovery.

Meanwhile, the AgriBiotech Summit (in partnership with CSIRO) and Cell and Gene Summit will address emerging biotechnologies. Dr. Simone Warner (Agriculture Victoria Research) will explain biosecurity’s role in agriculture, and Tim Doran (OmnisOva) will discuss post-genome animal biotechnology. Abhi Gupta (Syneos Health) will cover advancements in cell and gene therapies. The Gala Dinner, sponsored by Merck, will highlight space-life science intersections. From the government side, the Victorian State Government, as Host Partner, will support AusBioInvest and the AusBiotech Conference. Ultimately, Australia’s biotechnology sector is rapidly advancing through strategic partnerships, government support, and innovation-driven events like AusBiotech 2024, solidifying its role as a leader in the Asia-Pacific region.

Emerging Trends and Geographical Clustering in Australian Biotechnology

The Australian biotechnology industry, now in its third decade, showcases a wide array of players, from small pre-revenue start-ups to fully commercialized businesses with robust product pipelines. These companies leverage innovative technology platforms, creating a highly competitive landscape where owning proprietary technology provides a significant advantage. Geographical clustering has played a crucial role in shaping the industry, with many biotech companies strategically located near research institutions, particularly universities. These institutions serve as a vital source of research outputs and talent pools. Notably, key biotech hubs such as Melbourne, Sydney, and Brisbane have fostered innovation through close collaboration between academia and industry. Furthermore, proximity to these institutions accelerates the development of biotech solutions by facilitating knowledge transfer and partnerships.

Additionally, rising investment and government support have driven the industry’s expansion. Growing interest from venture capital and other funding sources has helped numerous companies move closer to commercial viability. At the same time, government incentives, especially for research and development (R&D), have contributed to sustaining growth. While human therapeutics continues to dominate the sector, agricultural biotechnology has gained traction, fueled by increased demand for genetically modified (GM) crops, pest-resistant plants, and sustainable farming practices. Moreover, food processing technologies and industrial biotech applications are becoming more integral to the broader Australian economy, reflecting the industry’s evolving product focus. Transitioning into the future, these factors are expected to maintain the momentum of growth across various segments.

Government Initiatives Fueling Biotechnology Growth

Australia’s biotechnology industry is valued at AU$100.042 billion (approximately USD $67.03 billion), with 48,000 STEM jobs and annual growth expected to reach 4.4%. The Australian Government actively supports the biotechnology sector, recognizing its economic impact and future societal role. It funds several programs focused on driving innovation through R&D. The government allocated $10.1 billion to R&D in 2015-16, with $3.2 billion through the R&D Tax Incentive. In 2015, it launched the National Innovation and Science Agenda (NISA) to further boost biotech and research. Key NISA initiatives include the Medical Research Future Fund (MRFF) and the Biomedical Translation Fund (BTF), which promote medical research and biotech commercialization.

Clinical Trials in Australia: Economic Impact and AusBiotech’s Role

Clinical trials play a pivotal role in Australia’s economy, driving innovation, exports, and high-level job creation. They contribute around $1.4 billion annually, including $650 million in foreign investment, and employ over 8,000 Australians. Each year, approximately 1,880 new trials are conducted, with Australia consistently attracting global sponsors due to its quality research infrastructure, diverse population, and respected regulators.

Furthermore, Australia ranks highly in clinical research, supported by its strong medical and health research output. To enhance Australia’s appeal for clinical trials, AusBiotech actively promotes and advocates for a more effective trial environment. They lead projects and Advisory Groups focused on trial recruitment, regulation, and funding, alongside streamlined processes like a National One-Stop-Shop for clinical trials. With continued support, AusBiotech aims to expand Australia’s share of clinical trials, encouraging further investment and strengthening the sector’s role in health and medical innovation.

Australia’s Cell and Gene Therapy Catalyst: Advancing Industry and Access

Australia’s Cell and Gene Catalyst, led by AusBiotech and Medicines Australia, aims to position Australia as a global leader in cell and gene therapies. This national joint venture, supported by industry partners like CSL Behring and Novartis, seeks to enhance Australia’s capabilities across the entire cell and gene value chain. The Catalyst’s mission is to create a robust ecosystem that can develop, commercialize, and distribute advanced therapies, benefiting patients and generating jobs. To achieve this, the Catalyst focuses on building Australian expertise, attracting top talent, and securing long-term investment in the sector.

Moreover, three Expert Working Groups drive progress in critical areas: policy and advocacy, collaboration, and workforce development. Through these initiatives, Australia aims to lead cell and gene therapy advancements in the Asia-Pacific region and support the industry’s growth, with significant export potential.

Working on Regenerative Medicine in Australia: AusBiotech’s National Consortium and Key Initiatives

AusBiotech leads a consortium of seven partners to expand regenerative medicine (RM) capabilities in Australia. Through MTPConnect’s Project Fund Program, AusBiotech, Medicines Australia, Cell Therapies Pty Ltd, Novartis Australia, Biointelect Pty Ltd, Research Strategies Australia, and MTPConnect co-fund the 12-month project. This initiative targets workforce capabilities, collaboration, funding, regulation, and manufacturing capacity. To support the RM industry’s growth, AusBiotech launched a Strategic Roadmap for the sector, detailing five key goals: workforce, collaboration, funding, regulation, and infrastructure. Additionally, Australia’s Regenerative Medicine Investments Database reported $394.1 million in RM investments in 2020, representing 23% of national biotech investments.

AusBiotech also published four case studies showcasing developments in cell therapy (Mesoblast), gene therapy (Pfizer), gene-modified cells (Novartis), and tissue-engineered products (Orthocell). Meanwhile, Australia’s Regenerative Medicine Global Pipeline Tracker highlights 140 global late-stage RM therapies, with up to nine expected in Australia within five years. Further, AusBiotech’s Catalyst Body Funding & Model Structure report recommends sustainable funding for a national RM collaboration body. To address production bottlenecks, the Manufacturing Capacity & Capability report supports building Australia’s sovereign GMP manufacturing base to improve access to RM therapies. The Clinical Trials Database tracks Australia’s RM trials pipeline, while the Regenerative Medicine Value Chain report outlines necessary steps from RM discovery to patient access, emphasizing workforce, infrastructure, funding, and clinical trial investment. AusBiotech continues fostering RM advancement, creating opportunities in research, manufacturing, and clinical trials.

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Author

Bernice Lottering