A consortium led by AusBiotech has received funding from the Medical Technologies and Pharmaceuticals Industry Growth Centre (MTPConnect) for a comprehensive global investment education program for the Australian life sciences sector, which will cater to the needs of companies, investors and researchers.
The consortium aims to deliver a program that will improve management and workforce skills and enhance the capability of the sector to engage with international markets and access to global supply chains. It is comprised of five companies who each have extensive insight and experience in the life science and investment landscape in Australia, including AusBiotech, the ASX, DibbsBarker, WE Buchan and KPMG.
The consortium partners will match the grant to deliver the program. Major outcomes of the project include:
- Education, resources and training for companies and potential university and research institute spin outs, to foster investment readiness for private companies, assist with investment pitching and to publish a guide to preparing for a successful initial public offering (IPO).
- Education and resources for investors, including a “Guide for investors in life science companies” and to develop and implement investor education events and workshops, including face-to-face programs for potential investors.
- Access to global capital markets for Australian life science companies, including:
- Upscale and enhance AusBiotech’s current global investment series in Australia, Hong Kong and Singapore with events to be held also in China, USA and Europe;
- Facilitate access to international investors, global capital markets and opportunities for collaborations and partnerships; and,
- Provide investor support and education in countries such as China and Korea.
AusBiotech CEO Glenn Cross said: “To be competitive on a global scale, Australian life sciences companies need to have effective access to global capital markets and be able to compete for funding against companies from around the world. This program will provide companies with the training and access they need to accomplish this. The follow-on effect of better funding is increased stability and productivity from those companies and therefore overall sector growth and confidence.
“The benefits of the investor education component of this project will be shared through investors’ participation in the wider biotechnology community. As investment in the sector grows, AusBiotech hopes to see a self-perpetuating growth cycle, with Australian life sciences research and SMEs considered a viable and attractive investment option for both local and international investors.”
AusBiotech is also a partner in three other consortia that were successful: the National Digital Health Initiative to create an integrated ecosystem for the development and commercialisation of digital health products; the Australian Academy of Technological Sciences (ATSE) national mentoring program linking PhD students with qualified industry mentors; and, a program led by Monash University and supported by CRRM Australia, an Australian hub of Canada’s Commercialisation Centre for Regenerative Medicine (CRRM).
This National Digital Health Initiative program, led by the Murdoch Children’s Research Institute, aligns closely with MTPConnect’s priority to support the development of digitally enabled MTP solutions.
The ATSE program is aiming to narrow the cultural gap that exists in Australia between business and academia through the Industry Mentoring Network in STEM (IMNIS) program, that will develop a national mentoring program linking PhD students with qualified industry mentors.
The program led by Monash University will be supported by CRRM Australia to develop foundational technologies to accelerate the commercialisation of regenerative medicine products and therapies.
The programs will be funded through MTPConnect’s Project Fund Program, which is a competitive matched funding program that aims to invest in ideas to boost the innovation, productivity and competitiveness of Australia’s MTP sector. Project Funds have been made available as part of the Australian Government’s $250 million Industry Growth Centres Initiative.