A new consortium preparing for Australia’s regenerative medicine (RM) future has been announced at AusBiotech + Invest 2020.
AusBiotech will lead the consortium of seven partners as industry prepares to thrive and drive benefits to Australia’s economy and the health of its people, after it received funding through MTPConnect’s Project Fund Program.
The project will identify and establish a national RM sector ‘catalyst’ collaboration body, and address priority action areas including workforce capabilities, collaboration, funding, regulation and policy infrastructure, and Australian manufacturing capability.
The seven consortium partners hold extensive insight and experience in the life science and regenerative medicines landscape in Australia: AusBiotech, Medicines Australia, Cell Therapies Pty Ltd, Novartis Pharmaceuticals Australia Pty Ltd, Biointelect Pty Ltd, Research Strategies Australia, and MTPConnect. The partners will match the funding from MTPConnect to deliver the project.
Lorraine Chiroiu, CEO, AusBiotech, said: “AusBiotech is delighted to be joining with a high-quality consortium of organisations to further build the foundations for regenerative medicine in Australia.
“The potential health benefits of a surging regenerative medicine sector, were until quite recently more likely to be considered science fiction than reality, but the evidence is mounting; the outcomes stunning – and the excitement for the sector’s future is too good to ignore.
“However, Australia is underprepared to capitalise on the opportunities gene and cell therapies can deliver. This project will bring together, for the first time, the entire ecosystem, and focus our efforts for best effect. From SME to multinational, investor to manufacturer, patient to employee, this project will prepare us for the road ahead.”
The 12-month project will build on Australia’s expertise and achievements in the RM industry - an emerging area of health technology that targets the body’s own regenerative capabilities. RM includes gene therapies, cell therapies (such as CAR-T), and tissue-engineered products intended to regenerate or replace injured, diseased, or defective cells, tissues, or organs to restore or establish function and structure.
Major outcomes of the project include:
- A researched, strategic roadmap for the RM sector’s development in Australia;
- Determining a sustainable funding and model structure for an RM sector ‘catalyst’ collaboration body;
- A regulatory white paper;
- Establishing annual data points and information resources;
- Mapping the pathway for a typical product from early research to market, and patients receiving a therapy; and,
- Mapping the global pipeline of gene and cell therapy products on the horizon.
AusBiotech remains committed to identifying opportunities to further enhance Australia's regenerative medicine ecosystem and life sciences sector.
Read the media release with further project details here.