australa sia
AusBiotech
Feature
Australia’s future in
biotechnology
By Dr Anna Lavelle, CEO, AusBiotech
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AusBiotech
“We have used the biological processes of microorganisms for more than 6,000 years to make useful food products, such as bread, cheese, wine and beer, and to preserve dairy products. Today the Australian biotechnology sector covers human therapeutics, industrial applications, the agriculture sector, food technology, nanotechnology, medical devices and diagnostics and cleantech” world’s dominant language, and all of us will have to be literate to thrive.” Biotechnology is an industry of the future and Australia is a leading location for biotechnology companies with over 1,000 biotechnology companies (400 therapeutics and 600 – 1,000 medical technology companies). Australia was recently ranked number five globally by Scientific American’s World View (Special Report: July, 2011). There are currently 100 ASX-listed life sciences companies with a market capitalisation of A$31.4 billion (BioForum Ed 38, Feb 2012). Australia has the largest listed biotechnology sector as a proportion of GDP in the world (E&Y, Beyond Borders, 2010 and 2011) and CSL is Australia’s largest biotechnology company. Australia offers world-class science, capacity for international partnerships, cost effectiveness and a transparent and efficient regulatory system. Our medical discoveries have improved the quality of health of millions of people across the world. The sector attracts millions in capital each year in muchneeded investment. The latest (BioShares, 30 Dec 2011) figures for the industry, show a 14 percent increase in 2011 to A$630 million, after A$554 million was raised in 2010. When you think of biotechnology many immediately think biopharmaceuticals, but the world of biotech has broadened its horizons substantially in recent years. The emerging trends of foodtech and cleantech have gained momentum and the medtech sector is surging forward to follow in the footsteps of medtech industry pioneers, Cochlear and ResMed.
Focus Manufacturing
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t its simplest biotechnology is technology based on biology. Biotechnology harnesses cellular and bio-molecular processes to develop technologies and products that help improve our lives and the health of our planet. The promise of biotechnologies that are now within our reach to enhance and extend our lives is astounding. We have used the biological processes of microorganisms for more than 6,000 years to make useful food products, such as bread, cheese, wine and beer, and to preserve dairy products. Today the Australian biotechnology sector covers human therapeutics, industrial applications, the agriculture sector, food technology, nanotechnology, medical devices and diagnostics and cleantech. Juan Enriquez writing for McKinsey’s What Matters (Feb 2009) said biotechnology and its discoveries have provided us with the global dawn of the ‘organic age’, where “Biology is likely to become the greatest single driver of the global economy.” Enriquez says now that we have unlocked the genome of living things, “The life code is a lever and perhaps the most powerful instrument human beings have ever used. It will make the Industrial Revolution seem simple, even quaint. It will become the
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Medtech included devices, software or diagnostics for the prevention, monitoring or treatment of a disease, injury or physiological process including joint replacements, artificial hearts and heart stents, as well as implants like the bionic eye and cochlear implant. The industry is advancing rapidly, using research developments to facilitate innovations in the biomedical sphere. An increasing convergence of technology platforms has resulted in greater collaboration across the disciplines of biomedical, electronic and mechanical engineering, nanotechnology, ICT and software development to develop the next generation of medical bionics. Food and dietary components that provide health benefits beyond basic nutrition are commonly referred to as food technology, foodtech or ‘functional foods’. The rise of foodtech is thought to be due to increasing concern amongst consumers about debilitating and chronic illnesses and diseases of ageing. Health authorities are increasingly acknowledging the importance of functional elements in foods, such as plant sterols role in improving health, lowering cholesterol and preventing heart disease. With the world population due to reach nine billion by 2050, the Bill and Melinda Gates Foundation has for some years provided funding in support of food and agricultural technologies including genetic modification in developing solutions to food-supply issues and improving nutrition. The development of cleantech is being driven by the rise in concern for the environment, such as global warming, and indicators are that this sector will go from strength-to-strength in coming years in renewable energy, energy storage, biofuels, cleaner fossil fuel processes, water purification and waste water treatment, recycling, energy efficiency, pollution reduction and advanced materials, such as nanotechnologies. The biofuels sector is seeing significant advances in developing alternative fuels from waste, representing an immense growth area that will have an important role to play in displacing the types of fuels the world has used in the past. 4
“The development of cleantech is being driven by the rise in concern for the environment, such as global warming”
New technologies on the horizon don’t use food crops but the fibrous woody parts of plants known as lignocellulose. These technologies can create biofuels from feedstocks such as garden waste, forest and sawmill waste, or even plantations dedicated to energy production. Biofuels are moving on from first generation technologies, those using sugar or starch to produce ethanol, and waste oil to produce biodiesel, to second generation biofuels that use non-food biomass, such as lignocellulose to make biodiesel and ethanol.
AusBiotech, Australia’s industry organisation AusBiotech has been working on behalf of members for more than 25 years to provide representation and services to promote the global growth of Australian biotechnology. AusBiotech is a well-connected network of over 3,000 members covering the spectrum of biotechnology sectors. AusBiotech is dedicated to the development, growth and prosperity of the Australian biotechnology industry by providing initiatives to drive sustainability and growth, outreach and access to markets, and representation and support for members nationally and around the world. AusBiotech’s membership base includes biotechnology companies ranging from start-ups to mature multinationals, research institutes and universities, specialist service professionals, corporate, institutional, academic and student members from Australia and globally. AusBiotech has representation in each Australian state and a range of special interest advisory groups providing a national network to support members.
AusBiotech at work POLICY, ADVOCACY AND REPRESENTATION
Every year AusBiotech hosts more than 150 networking and information-based events and the main event is the annual AusBiotech national conference. AusBiotech plays a pivotal role in connecting people to do business and last year alone facilitated well over 2,000 one-on-one business meetings, worked with over 60 international associations and led a number of international business missions. Responding to member demand and the success of previous events, AusBiotech has established a regular series of showcase investment events attracting investors locally and internationally. Regular features include an event in the USA each year annexed to JP Morgan Annual Healthcare Conference and the Australasian Life Science Investment Summit, held in conjunction with the AusBiotech national conference
AusBiotech 2012 The industry’s flagship biotechnology conference, AusBiotech, is well established as the premier biotechnology event for Asia-Pacific, attracting over 1,100 delegates from across the world each year and is renowned for its agenda-setting programmes. Biotechnology companies and international investors regularly report excellent results from the AusBiotech conference with programmes and activities dedicated to helping companies and researchers connect with investors and partners, stirring substantial international interest. AusBiotech 2011 was held in Adelaide with more than 1,100 participants, facilitated over 2,300 partnering meeting requests and the Australasian Life Sciences Investment Summit, the biggest investment event of its kind in this part of the world, which attracted 120 invited investors - almost half from overseas. Save the date for AusBiotech 2012, 30 October – 2 November, to be held in Melbourne Victoria. For more information on AusBiotech 2012, see www.ausbiotechnc.org
Focus Manufacturing
AusBiotech works to shape public policy and address issues by advocating via the media, government submissions, working groups, face-to-face meetings with government representatives and parliamentarians. The industry is still celebrating after the long-awaited and very exciting news that the R&D Tax Incentive legislation was finally delivered in late 2011, marking the best news the industry has had in years. The passage of the legislation is the successful culmination of more than two years of advocacy by AusBiotech. Start-up innovation companies, especially biotechnology companies trading in loss, will sit in the sweet spot and will be the biggest beneficiaries from the Tax Incentive’s 45 percent refundable component, and the legislation will also benefit large innovative companies by reducing the cost of conducting eligible R&D activities in Australia by up to 10 percent, making Australia a more competitive location for conducting biomedical and pharmaceutical R&D and clinical trials. AusBiotech makes regular submissions to governments on policy issues affecting the sector, with nine collaborative submissions last year including a substantive response to the TGA’s Health Technology Assessment Review and evidence/submissions to two Senate inquiries. AusBiotech holds an annual CEO Summit at Parliament House in Canberra, which links member CEOs with key parliamentary ministers and members, and continues work on industry issues with a range of working groups, such as the Pharmaceutical Industry Working Group (PIWG) and the National Enabling Technologies Strategy. AusBiotech speaks regularly with the media on industry issues. During 2011, AusBiotech was responsible for more than 200 published media articles.
EVENTS, CONFERENCES, NETWORKING AND PROFESSIONAL DEVELOPMENT
Membership Membership is open to biotechnology companies and organisations with an interest in the industry. As well as the above outlined benefits, membership also provides special member discounts and exposure for biotechnology businesses, and communication of industry news, current affairs and AusBiotech activities. The AusBiotech website publishes regular updates, and the tri-annual e-journal, Australasian Biotechnology. For more information on joining AusBiotech, see www.ausbiotech.org/membership 5
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