AusBiotech, Cell Therapies, Research Strategies Australia and MTPConnect have made a joint submission to the parliamentary inquiry into the opportunity for Australia's manufacturing industry to harness the potential of emerging cell and gene therapies, or regenerative medicines (RM).
The submission highlights that while complex and nuanced, cell and gene therapies have the potential to significantly reduce the burden of disease, leading to better health outcomes, higher participation rates in the workforce and impact the economy on a large scale.
The Senate Inquiry is considering the Australian manufacturing industry, including current and future economic growth drivers, capacity, national resilience, new areas the country can establish itself as a global leader, and the role that government can play in assisting the domestic manufacturing industry, including R&D, attracting investment, supply chain support, government procurement, trade policy, and skills and training.
The substantial growth in the RM sector has revealed a significant manufacturing capacity shortage. Right now, global manufacturing capacity is not meeting demand and it is estimated that a five-fold increase in the current capacity is required.
Building Australia’s sovereign manufacturing capability for complex and advanced RM Therapies will ensure equitable access to cutting-edge treatments for Australian patients, create new jobs now and for the future, and develop a highly-skilled workforce.
Commercially scaled resources will also build new export markets and deflect the prevailing trend of establishing advanced manufacturing in lower-cost markets. By leveraging Australia’s reputation for delivering high-quality, complex, and safe medical products, as well as our highly-skilled workforce, we can become the manufacturing hub for the region and deliver potentially life-changing treatments to patients, both in Australia and the broader Asia Pacific region.
The joint submission utilised insights from and promoted the work of the AusBiotech-led Consortium project that has been developing resources to build the foundations of RM in Australia.
The Senate referred the matter of the Australian manufacturing industry to the Economics References Committee for inquiry and report by 24 November 2021.
Read AusBiotech’s joint submission here.