AusBiotech members are invited to share their views at a virtual roundtable on capital attraction incentives, to help finalise AusBiotech’s Investment in industry-driven medical research policy paper.
The greatest barrier to the commercialisation of medical research via Australia’s biotechnology sector is the attraction of dilutive and non-dilutive investment - predominantly to enable pre-clinical work and clinical trials, but also to support manufacturing and expansion.
Developed in partnership with the AusBiotech membership, and following a dialogue with Minister for Industry and Science, the Hon Ed Husic MP in April 2023, this policy paper sets out a recommended position for joint Government and industry initiatives.
The virtual roundtable will focus on strengthening the paper’s positions on the Business Research and Innovation Initiative/SBIR; the MRFF/Biomedical Translation Fund; the Early-Stage Innovation Company (ESIC) incentive; and Superannuation funds, and invites member feedback, including case studies and additional supporting evidence that will aid future advocacy activities.
As identified in the Biotechnology Blueprint, Australia’s biotech industry’s decadal strategy, access to capital remains one of the largest challenges for biotech companies in Australia. To build, diversify and address gaps in access to capital across the industry, a significant increase in the flow of capital to the biotechnology sector of $1 billion annually is needed.
To help address this, AusBiotech has considered a raft of policy levers to address capital attraction, with this policy paper outlining the joint Government/industry initiatives considered to ‘most move the dial’. AusBiotech thanks those involved in the initial roundtable discussions, including Board and Investor Advisory Group members.
The AusBiotech online roundtable will be conducted on Thursday 8 February from 1.30 – 2.30 pm (AEDT). AusBiotech members can register their interest in attending the roundtable by contacting Karen Parr, Director, Policy & Communications.
Upon finalising the Investment in industry-driven medical research policy paper, AusBiotech will begin advocacy activities.
Members are invited to log into the AusBiotech website to download the draft policy paper here, or to contact Karen for a Word version.