A strong focus on global biotechnology opportunities is helping Melbourne cement its position as Australia's leading location for medical technologies and pharmaceuticals. Its success can be attributed to a combination of its educated population, strong academic institutions, favourable regulatory and R&D environment, and a supportive government.
Melbourne is recognised for its world leading capabilities in:
● infectious disease and immunology;
● regenerative medicine;
● drug candidate identification and optimisation and medicinal chemistry; and
● high quality clinical trials.
Melbourne has pioneered breakthrough technologies and treatments including the discovery of epilepsy genes, development of Relenza, cochlear ear implants, rotavirus vaccines and the discovery of colony stimulating factors now used widely to treat patients with compromised immune systems.
Adding to a list of major infrastructure already located in Melbourne, the Victorian Comprehensive Cancer Centre, has recently been completed. It is a new US$750 million purpose-built facility for cancer research, treatment, education and care and brings together ten-world leading cancer organisations to share knowledge and resources and drive the next generation of cancer research, treatment and care.
More than 40 per cent of Australia’s listed biotechnology and medical equipment companies are located in Melbourne. Its skilled and innovative workforce inacludes over 21,000 people employed in the pharmaceutical and biotechnology industry and more than 20,000 researchers in universities, hospitals and research institutes.
CSL, for example, is Australia’s largest biopharmaceutical company with a market capitalisation of over US$35 billion. Combined annual sales of commercialised biotechnology products from Melbourne totals more than US$9.5 billion a year.
Melbourne is a leading global location for high quality clinical trials by major international pharmaceutical, medical device and diagnostics companies. Melbourne’s range of expertise in conducting clinical trials across all major therapeutic areas ensures strict adherence to the highest standards of clinical research, which are conducted in accordance with international regulatory requirements and expectations.
Melbourne has a fast and favourable clinical trial regulatory environment existing within a robust national framework. The expected regulatory pathway, the Clinical Trials Notification scheme, provides for the initiation of first-in-human clinical trials without need for filing of an IND.
Melbourne’s outstanding R&D capabilities underpin the State’s innovative models of health provision and drive new opportunities for international partnerships to develop new products.
Australia is also a highly attractive environment for R&D operations, with a cash refundable tax credit of up to 45 per cent of eligible R&D expenses.
The Government has a strong history of investment to support the infrastructure needed for a world-class healthcare
industry. It has recently established a new Future Industries Fund targeting medical technologies and pharmaceuticals as one of several strategic priority sectors.
The Government has a well-established strategy to help medical research organisations become part of a global supply chain in knowledge creation, research, product development and commercialisation. Its network of 18 global offi ces is working with international companies to identify new opportunities and potential local partner organisations.Melbourne’s biotechnology, pharmaceutical and medical technology companies are competing vigorously on a global stage, confi rming the city’s reputation as a vibrant destination for global biotechnology companies. It off ers an attractive low risk, high quality and competitive business environment as a gateway to Asia.
To find out how to grow your business in Victoria and find out more about Melbourne’s growing medtech, biotech and pharmaceuticals sectors please contact the Victorian Government Business Office in New York.
Mr Nathan Elia
Biotechnology, Life Science and Medical Technology Manager
Victorian Government Business Office – New York
Tel: +1 617 6789 770 Fax: +1 212 573 957
Enhanced with a new guidebook and region-specific ratings, the 2016 Scorecard ventures deeper than ever to track down the latest in biotech innovation