AusBiotech is seeking expressions of interest from expert members to assist with developing a new edition of The Code of Best Practice for Reporting by Life Sciences Companies (the Code) – a resource for Australian life sciences companies that encourages the adoption of high, consistent standards of communication and market disclosure, which in turn promotes investor confidence.
According to the Code’s rationale it: “has an important part to play in Australia because of the relatively high level of participation of retail investors in the life science sector.”
The Code emphasises the importance of appropriate terminology and context to announcements to help investors understand the commercial significance of what is being reported.
AusBiotech is currently bolstering its investment attraction programme and updating this important industry resource will assist the sector with incorporating international best practice in reporting, maintaining, and enhancing the reputation, integrity and credibility of the Australian life science sector.
While the predominant focus of the Code is on ASX-listed companies, there are many important considerations for private companies, and it will be an invaluable resource for representatives from Australian biotech company executives, company secretaries, Board Chairs and Non-Executive Directors, investors or fund managers, and legal or advisory firms across the sector.
AusBiotech wishes to acknowledge Dr Michael Hirshorn OAM’s contribution to the development of the Code’s first edition in 2005, as he convened a group of industry experts to deliver the resource. The review and second edition of the Code in 2013 was funded by the Victorian Government and supported by AusBiotech and the Australian Securities Exchange (ASX).
To read the Code’s second edition, click here.
AusBiotech members who are interested in supporting this review can submit their expression of interest by contacting AusBiotech's Director, Investment Lisa Renkin by 31 August 2022.