Australia poses as a global leader in medical sciences and technologies. It offers investment opportunities ranging from research to product development partnerships in biotech, pharmaceuticals, medical devices, tropical medicines and digital health areas.
There are a number of benefits can investors can avail from Australia. The country provides excellent research and collaborative culture, accessible world-class research infrastructure, stellar record in commercial success, an ideal market for testing innovative medical products and technologies, and investment and cultural links to Asia-Pacific region.
Australia has a strong policies and regulatory framework, including strong intellectual property (IP) protection, fast-tracked clinical trials, tax incentives and a supportive business culture for undertaking research and development (R&D).
Here are some updates from investors in Australia:
Johnson & Johnson and the Queensland Government
The Queensland Government is collaborating with the US pharmaceutical and healthcare giant, Johnson & Johnson. The goal of the collaboration is to develop and commercialize healthcare innovations in Queensland.
The state government encourages game-changing health innovations in the fields of pharmaceuticals, medical devices and diagnostics, and healthcare. The state government is providing A$300,000 towards the Advance Queensland Johnson & Johnson Innovation Quick Fire Challenge, a world-wide competition set to progress transformational science to advance cures for unmet medical needs across the world.
Queensland’s Science and Innovation Minister, Leeanne Enoch, said that they are looking for exceptional innovations—ones with a real chance of being turned into investible products with benefits for patients.
Leading Chinese Pharmaceutical Company and Australian University
Yabao Pharmaceutical, a leading Chinese specialist pharmaceutical company, has announced its collaboration with the University of South Australia to advance treatments in cancer.
The terms of the agreements state that Yabao will provide significant contributions towards the research, as the University’s researchers will identify drug candidates.
The resulting drug will then be exclusively developed and commercialised in China by Yabao, while the University of South Australia will retain the rights in all other markets around the world.
The Shanghai-listed Yabao Group has total assets of RMB 2.5 billion and 13,000 employees. The company is known as one of the largest manufacturers of traditional medicines in China. Today, Yabao is pursuing the development of innovative pharmaceuticals through collaborative efforts with organisations that have innovative programs complementing the company’s development and commercial capabilities.
Acquisition of Australian Biotech by Swiss Global Healthcare
Novartis, a Switzerland-based global healthcare company, has acquired the Australian biotech Spinifex, in a US$700 million deal.
The combined Australian medical research and venture investment is aimed to progress the commercialization of drug discoveries.
Spinex Pharmaceuticals is now based in Melbourne, Australia and Stamford, Connecticut in the United States. The company labors to develop drug candidates for the treatment and management of neuropathic pain. Currently, around forty per cent of patients do not respond to current first line treatments.
The founding of Spinifex resulted from Professor Maree Smith’s drug discoveries. She was the one who found that AT2 receptor antagonists were active as inhibitors of neuropathic pain.
Novartis Group has its headquarters in Basel. It also has products supplied to over 180 countries around the globe and employs more than 120,000 people. In 2014, it posted its net sales of US$58 billion.