It’s that time of year again when we return from the festive break brimming with energy, new ideas and resolutions. At AusBiotech, our commitment to the sector is even greater, with a firm resolution to amplify our efforts even further in supporting and advocating for the growth of the life sciences industry.
After a strong 2022, we are looking forward to an even stronger 2023, focused on doing what we do best: bringing the biotech community together to forge valuable partnerships and increase opportunities to access capital; advocating for government policies that enable the sector to realise their potential and continue to add value to the economy; and supporting the industry to continue to improve the lives of people in Australia and beyond.
Resolution one: Take a big(ger) leap on your ESG journey
While the life sciences industry, by nature, contributes much to improving lives and the environment, stakeholders and investors are increasingly wanting to be clearly told how. Reporting on a wide range of Environmental, Social and Governance (ESG) issues is becoming the norm in many industries, and for life sciences companies can mean the difference between attracting investment or not.
Most investors now use ESG considerations when assessing new opportunities. Having an ESG strategy or plan, measuring risk and impact, and documenting progress are no longer ‘nice to have’ – they’re business critical.
AusBiotech’s ESG Working Group will soon be launching for consultation a draft version of a resource designed to help biotech companies do just that: developed by industry, for industry, taking into account companies’ specific needs and challenges.
The resource will be a valuable resource for companies in the early stages of their ESG journey, outlining the key considerations that biotechs need to consider and providing tools and advice on the most appropriate metrics to use.
Keep an eye on the AusBiotech website for more details.
Resolution two: connect the industry through major Australian life science events
Continuing to facilitate opportunities for investment discussions, collaborations and partnerships is crucial for the growth of Australian life sciences sector and ultimately for continuing Australia’s position in the life sciences sector globally.
AusBiotech’s 2023 events programme is already in full swing, beginning with AusBiotech’s Australian Hub in San Fransisco, enabling local life sciences companies to connect with international businesses and investors during JP Morgan week.
Save the dates below for more key industry events.
- BioCheers: kicking off from February and March 2022 across the country. Register now
- NSW Women in Life Sciences Luncheon: 10 March 2023. Save the date.
- AusMedtech 2023: 24-25 May, Adelaide, South Australia. Save the date
- BIO 2023: 5-8 June, Boston, USA. An announcement coming soon…
- AusBioInvest 2023: 30 October, Melbourne, Victoria. Save the date
- AusBiotech 2023: 1-3 November, Brisbane, Queensland. Save the date.
Resolution three: Advocate for the advancement of the biotech sector
As the champion of the sector, AusBiotech will continue its work on activities that support the priorities outlined in the Biotechnology Blueprint: A Decadal Strategy for the Australian Biotechnology Industry, which is the shared industry vision for the biotech ecosystem as it aspires to help the industry realise its full potential.
This includes responding to the National Reconstruction Fund consultation, and AusBiotech’s response will be out for member consultation imminently – watch this space. We will also be responding to the annual TGA fees and charges consultation, due to be released later this month; helping to shape a newly proposed ‘TGA Learn’ programme that aims to support the life sciences industry to successfully navigate the regulatory pathway and support post market compliance activities; and running our annual invitation-only c-suite state-based roundtables in the first quarter of 2023 to engage members on AusBiotech’s advocacy plan ahead.
Other activities in the pipeline include continuing the revision of The Code of Best Practice for Reporting by Life Sciences Companies (the Code) which will be distributed to members for feedback in the near future, along with the development of a policy position on the value of end-to-end tax incentives, with more information to follow soon.
In addition, we will continue to promote opportunities to champion the sector and share the success of our members. It will be a busy year, and we look forward to working with you all to make it a great one.