End-to-end Australian biopharmaceutical production for small to medium enterprises will soon be possible, with the Andrews Labor Government committing funding to a ground-breaking early-stage biologics manufacturing facility.
“We’re proud to support the development of this new CSIRO facility which will help us meet emerging market demands for medical and pharmaceutical products while creating investment and local jobs. We’re supporting the sector’s transition from traditional to advanced manufacturing by attracting the investment that creates new jobs in growth industries.”
Minister for Trade and Investment Philip Dalidakis
The Labor Government has allocated $1.5 million towards the construction of an Advanced Biotechnology Manufacturing Platform to be built at CSIRO’s Clayton Biomedical Manufacturing Precinct – the facility will manufacture products such as vaccines, antibodies, growth factors and stem cells for testing in human clinical trials.
Australian biotech companies are currently forced to manufacture their promising biological candidates overseas, and the high cost prevents many smaller companies from taking new therapies beyond the laboratory.
A local facility will allow innovative Australian biotech companies to retain their R&D investment in the local economy while retaining and creating jobs here and boosting the number of companies undertaking clinical trials in Victoria.
“This new facility is wonderful news for the people of Oakleigh and surrounds – it will be a centre of advanced manufacturing excellence and create jobs for local people.”
Member for Oakleigh Steve Dimopoulos
Victoria is already a premier location to conduct clinical trials, with outstanding clinical leaders, world class infrastructure and institutions and a strong community of service providers.
Around 1,000 new clinical trials start in Australia every year and currently over a third happen here in Victoria.
With more than 150 biotech companies, 10 major medical research institutes, and nine universities across Victoria, the pharmaceutical and medtech sector currently employs more than 23,000 people and generates more than $12.7 billion in annual revenue.
“This facility will enable CSIRO to help new and existing companies develop and grow their biopharmaceutical manufacturing processes locally, instead of heading overseas.”
Deputy Director of CSIRO Manufacturing Dr Paul Savage
Victoria is home to 41 per cent of ASX-listed life-science companies with a combined market capitalisation of over $115 billion, more than 60 per cent of the nation’s total.
Advanced manufacturing, including medical and high-tech products, is key to the state’s economic future, with the Labor Government actively supporting sector development through the Future Industries Fund.
Header image: Minister Dalidakis with Dr Paul Savage, Deputy Director, Manufacturing, CSIRO; Nigel Warren, Acting Chief Operating Officer, CSIRO; Dr Sandhya Tewari, General Manager International and Government, MTP Connect; Dr Melissa Straffon, Manager, Science and Industry Endowment Fund.