AusBiotech cements plans to collaborate


AusBiotech strengthened its local and international partnerships this week at the International BioFest 2016, with three memorandums of understanding (MoUs) signed at the conference, including with MTPConnect and two with Korean organisations.

AusBiotech signed an MoU with the Medical Technologies and Industry Growth Centre (MTPConnect) this week, to work cooperatively to accelerate the growth of the medical technology, biotechnology and pharmaceutical sectors in Australia. MTPConnect is part of the Federal Government’s $248 million Industry Growth Centres Initiative.

AusBiotech CEO Glenn Cross said: “AusBiotech have supported MTPConnect since its formation in 2015, and we look forward to working in partnership with the industry growth centre in the future. This MoU will drive our already aligned goals to devise tactics that will deliver real-world, positive outcomes to the Australian medical technology and pharmaceutical sector.”

Sue MacLeman, CEO of MTPConnect, said that the agreement will be an important milestone for the sector.

“Together, MTPConnect and AusBiotech will work to boost innovation, sustainability and growth of MTP sector in Australia, achieving greater commercialisation and competitiveness in the global market through joint advocacy, training, and fostering international connections,” said Ms MacLeman.

In addition to local partnerships, the International BioFest marked the formal launch of collaborations between the Australian and Korean biotechnology organisations.

AusBiotech also signed an MoU this week with Korea’s Council for Advanced Regenerative Medicine (CARM), which was attended by AusBiotech CEO Glenn Cross; AusBiotech’s Regenerative Medicine Advisory Group (RMAG); and, Dr BG Rhee, President, Green Cross Holdings and Executive Vice Chair of CARM. This agreement seeks to facilitate connections between the regenerative medicine industries in Korea and Australia and spark innovation across the two countries’ borders.

Mr Cross said: “Regenerative medicine is a growing area of research, offering the potential to treat disease and disability that have remained off-limits to intervention and may one-day become treatable. CARM embodies Korea’s recent commitment to advancing their regenerative medicine capabilities and indicates that collaboration between Australia and Korea is essential to leveraging our combined innovative potential.”

The third MoU was signed between AusBiotech and the Korea Health Industry Development Institute (KHIDI) at Australia Biotech Invest, Australia’s life science investment showcase. KHIDI is a government-affiliated institution that leads the expansion of healthcare R&D investment and builds the competitiveness of Korea’s healthcare industry. KHIDI was represented by the organisation’s Executive Director, Mr Yongkwon Yeom.

AusBiotech has been working with Austrade Korea over several years to promote the Australian biotechnology in Korea, with particular focus on regenerative medicine, clinical trials, medical devices and diagnostics, biotechnology and pharmaceutical sectors.

Together Austrade and AusBiotech have supported Korean biotechnology delegations to visit the International BioFest and have organised Australian pavilions at BioKorea in Seoul.