Governor to lead Victorian delegation to BIO
|7 June 2012 |
|It was announced today that the Governor of Victoria, the Honourable Alex Chernov AC QC, will lead a Victorian delegation of life sciences delegates to BIO2012 in Boston, departing next week.|
|Held annually in the United States, BIO is the world’s largest biotechnology convention and exhibition. BIO attracts the biggest names in biotechnology, offers strategic networking and investment partnering opportunities, and provides insights into the major trends in the industry.|
The Governor of Victoria will lead a delegation of around 60 representatives from Victoria’s biotechnology industry and related organisations. The BIO2012 mission offers a great opportunity to pursue and strengthen relationships, raise the profile of Victoria as a leading Asia-Pacific centre for biotechnology and innovation and to grow Victorian partnerships, investments, jobs and exports.
Victoria offers a highly innovative operating environment with access to world-class research institutions, a strong pipeline of talented and motivated professionals, a stable and transparent regulatory environment and an enviable quality of life.
Melbourne’s expertise in stem cell, infectious disease, cancer, neuroscience and agricultural biotechnology is internationally recognised and is home to a growing pharmaceuticals manufacturing base.
Earlier this year, GlaxoSmithKline announced a A$60 million investment at its Boronia site to expand manufacturing and new drug development activities in Victoria, and the Monash Institute of Pharmaceutical Sciences and a leading European pharmaceutical company Les Laboratoires Servier announced a partnership to undertake cutting-edge drug discovery and research activities in Victoria.
Last year, the Victorian Government released Victoria’s Technology Plan for the Future – Biotechnology, a A$55 million plan to support technology-enabled innovation and stimulate productivity growth across the Victorian economy. A key initiative of this plan, the Technology Trade and International Partnering Program supports Victorian companies and organisations to attend overseas events and missions, such as BIO.
Professor Ian Gust, Chair of the Victorian Biotechnology Advisory Council (VBAC), will also be attending BIO2012. The VBAC was established as part of the Biotechnology Plan as a mechanism for ongoing dialogue between the biotechnology industry and government.
Victoria is home to Australia’s largest biotech sector, with more than 150 biotechnology companies. Victoria’s life sciences industry’s total market capitalisation was A$24 billion (as at first quarter 2012) – having tripled over the past ten years. Victoria’s biotechnology industry generates annual sales of some A$7.6 billion with expenditure on research and development now exceeding $600 million each year.
Hosted by the Biotechnology Industry Organisation (BIO), BIO2012 will take place in Boston from 18-21 June. In addition to attending BIO, the Governor of Victoria will address the Australian Biotechnology Investment Showcase being held in New York on 15 June.