Industry-backed plan to navigate Australian biotech into the future

May 16, 2022

Australia’s biotechnology sector has united to launch a strategy for the Australian Biotechnology Industry

For the first time in 20 years, Australia’s biotechnology sector has united to launch the Biotechnology Blueprint: A Decadal Strategy for the Australian Biotechnology Industry – a shared industry vision and ‘blueprint’ navigating the biotech ecosystem as it aspires to build solid companies, create more jobs, commercialise more biotechnologies, build sovereign capabilities, and deliver greater benefits and returns to Australia and all Australians.

With COVID-19 serving as an important reminder that Australia will need our biotech industry to help it face uncertain future threats, including the ongoing and increasingly common chronic health challenges, there has never been a more important time to proactively plan and shape the coming decade as a community and as an industry.

This valuable opportunity has been realised through the development of a clear decadal plan for the Australian biotechnology industry, as it strives to maximise on Australia’s vibrant and valuable sector, and identify the steps that should be taken in the near term to ensure that positive future is realised.
As the voice of Australia’s biotechnology industry, AusBiotech has led the development of the Biotechnology Blueprint (Blueprint) over the past two years, and it comprises of the contribution of almost 350 individuals and organisations, all working to realise the potential of biotechnology in our society.
AusBiotech CEO Lorraine Chiroiu said, “Australia has a wealth of innovative medicines, vaccines, and medical technologies being developed; to support them reaching Australian patients and improve and extend the quality of human life, we need to focus on creating the right environment for companies to innovate and grow, build dedicated research infrastructure, and enlist the Australian healthcare system as an active partner.”

“The Biotechnology Blueprint is, at its core, a ‘blueprint’ for societal good, and through its implementation, we can herald an era of Australian discovery, translation and innovation. It’s a chance to achieve great things for Australian biotech, Australia, and Australians.”

The Australian biotech industry’s vision is that over the coming decade it will: become a more mature, vibrant ecosystem; with a more established global and domestic standing; and be a stronger, more positive contributor to the Australian economy and its population.

Presenting a solutions-based approach, the Blueprint responds to well-articulated, stubborn issues that the industry has grappled with for years, including: access to capital to feed the need for commercialisation, clinical development and growth; growing companies through the commercialisation pathway and reaching market; gaps in technology transfer and commercialisation support; and incentives and structural supports along the pipeline.
The Blueprint aligns with the Federal Department of Health’s new ‘Biotechnology in Australia – Strategic Plan for Health and Medicine’, released as part of the 2022-23 Budget, and was first announced at AusBiotech’s CEO Forum in Canberra in 2019. These long-term commitments traversing election cycles are critical to structurally support Australia’s biotechnology sector and to deliver on the vision and the strategic investments that will solidify and strengthen Australia’s sovereignty and global standing in biotechnology.

Download it here.

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