Nation's long history of R&D offers great opportunities for dry US product pipelines
Philadelphia, PA– June 21, 2005 – Australia, known globally for its biotech R&D capabilities and successes in human therapeutics, agribiotech, diagnostics, medical devices and biodiscovery, says its research institutes are brimming full of innovative biotech IP and is courting US firms for investment, partnerships and license deals.
A record number of commercialization teams from Australian universities and research centers head to BIO 2005 this week focused on showcasing their offerings and cutting deals with US firms. Of the 63 Australian firms and organizations exhibiting at the Australia Pavilion [June 19-22, 2005], 20 of these are public and privately funded research centres.
Dr Anna Lavelle, the newly appointed Chief Executive Officer of AusBiotech, the Australian peak biotech industry organization, said Australia has the IP and innovation and now needs to fast track commercialization. She notes that there is no better place to target than the US which has led the world in commercializing innovation for decades.
"Australia, which per head of population boasts more Nobel Laureates [from Howard Florey for penicillin to Peter Doherty for immunology], and biotech patents and papers, has an exceptional foundation of research that offers compelling value for US firms," said Lavelle.
"We offer an exceptional range of opportunities for firms wanting to invest, partner and or license our biotech IP."
Firms that have discovered the commercialization opportunities in Australia include, Merck Sharpe and Dohme, Bristol-Myers Squibb, Pfizer, Eli Lilly, Apath and Genzyme to name a few.
Lavelle said Australia's strong IP protection, legal and social commonalities with the US and agreements like the Free Trade Agreement make doing business with Australian entities seamless and very profitable. "We often say it is just like working with another US firm," she said.
In addition, Australia is celebrating landmark research breakthroughs from stem cells and heart assist technology, to proteomics advances, carbohydrate chemistry, transdermal drug delivery, anti viral vaccines, inflammatory disease and cancer therapies, bio prospecting, skin therapies and ddRNAi /RNAi developments.
Source: Eurekalert & othersLast reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
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