PHILADELPHIA, June 20 /PRNewswire/ -- Australia, known globally for its biotech R&D capabilities and successes in human therapeutics, agribiotech, diagnostics, medical devices and biodiscovery, says its research institutes are brimming full of innovative biotech IP and is courting US firms for investment, partnerships and license deals.
A record number of commercialization teams from Australian universities and research centers head to BIO 2005 this week focused on showcasing their offerings and cutting deals with US firms. Of the 63 Australian firms and organizations exhibiting at the Australia Pavilion [June 19-22, 2005], 20 of these are public and privately funded research centres.
Dr Anna Lavelle, the newly appointed Chief Executive Officer of AusBiotech, the Australian peak biotech industry organization, said Australia has the IP and innovation and now needs to fast track commercialization. She notes that there is no better place to target than the US which has led the world in commercializing innovation for decades.
"Australia, which per head of population boasts more Nobel Laureates [from Howard Florey for penicillin to Peter Doherty for immunology], and biotech patents and papers, has an exceptional foundation of research that offers compelling value for US firms," said Lavelle.
"We offer an exceptional range of opportunities for firms wanting to invest, partner and or license our biotech IP."
Firms that have discovered the commercialization opportunities in Australia include, Merck Sharpe and Dohme, Bristol-Myers Squibb, Pfizer, Eli Lilly, Apath and Genzyme to name a few.
Lavelle said Australia's strong IP protection, legal and social commonalities with the US and agreements like the Free Trade Agreement make doing business with Australian entities seamless and very profitable. "We often say it is just like working with another US firm," she said.
In addition, Australia is celebrating landmark research breakthroughs from stem cells and heart assist technology, to proteomics advances, carbohydrate chemistry, transdermal drug delivery, anti viral vaccines, inflammatory disease and cancer therapies, bio prospecting, skin therapies and ddRNAi/RNAi developments.
To make an appointment with members of the Australian delegation please go to Austrade's online diary and select the Business Matching service where your request will be confirmed within 24 hours: http://www.austrade.gov.au/bio2005/.
For a listing of the 63 Australian exhibitors at BIO 2005, please visit the Australian Exhibitor section of Invest Australia's BIO 2005 website at http://www.investaustralia.gov.au/biotech/bio2005 .
About AusBiotech - http://www.ausbiotech.org
AusBiotech is Australia's biotechnology industry organization, which represents over 2,400 members, covering the human health, agricultural, medical device, environmental and industrial sectors in biotechnology.
AusBiotech is dedicated to the development, growth and prosperity of the Australian biotechnology industry, by providing initiatives to drive sustainability and growth, outreach and access to markets, and representation and support for members nationally and around the world.
AusBiotech has representation in each Australian State and provides the foundation to bring together all the relevant players to facilitate the commercialization of Australian bioscience in the national and international marketplaces. The structure is a not-for-profit limited guarantee company managed by a Board elected by members, under a constitution that is available on request from National Office.
AusBiotech's membership base includes biotechnology companies, ranging from start-ups to mature multinationals, research institutes and universities, specialist service professionals, corporate, institutional, individual and student members from Australia and globally.
About Invest Australia - http://www.investaustralia.gov.au/biotech
Invest Australia is Australia's national inward investment agency, set up by the Australian Federal Government in 1997, to attract productive foreign direct investment into Australia to support sustainable industry growth and development. Invest Australia has investment advisory specialists in 11 locations around the world, including San Francisco and New York, to provide investors with on-the-ground support and investment advice, including free and confidential advice to firms to help find the right business partners and identify commercial opportunities. In just the past two financial years, to June 2004, Invest Australia has played a role in attracting 105 projects worth US$11.1 billion, involving 9,470 jobs.
About Austrade - http://www.austrade.gov.au
The Australian Trade Commission, Austrade, is the Federal Government agency that helps Australian companies win overseas business for their products and service by reducing the time, cost and risk involved in selecting and developing international markets. Biotechnology is a major source of growth for Australian industry and as such Austrade has established a specialist Biotech team.
Austrade, with seven offices in the US, can assist international biotechnology companies to partner with Australia's leading biotechnology companies and clusters of excellence.