Newsroom.

AusBiotech was delighted to welcome NSW Government’s $25 million commitment to building an advanced gene and cell therapy manufacturing facility at the Westmead Health Precinct. The facility will produce specialised gene therapy tools at clinical grade, with the aim to expedite research and translate it into cures for serious genetic diseases affecting children.

In response to the announcement, Lorraine Chiroiu, CEO, AusBiotech said, “AusBiotech is delighted that this new facility will have direct benefits to both Australian companies and patients. Companies working at the cutting edge of gene and cell therapies – technologies that are expected to forge the next generation of treatments and cures for serious life-threatening diseases such as cancers, rare genetic diseases, and neurodegenerative diseases – will no longer need to go overseas to develop and manufacture the latest advancements. We look forward to seeing reduced costs and shortened wait times for patients accessing the latest advancements in gene and cell therapies.”

Dr Peter French, Industry Development Manager, NSW, AusBiotech, who has a background in developing gene therapies, knows first-hand the difficulty of relying on access to overseas facilities, and also welcomes the NSW Government’s initiative.

“This signals that the NSW Government is firmly committed to supporting innovative life science companies, by providing the much-needed infrastructure for the research and development of Australian gene and cell therapies. Through this initiative, a significant barrier to product development will be removed, and I expect that this will stimulate the growth and development of more NSW companies working in this space.”

AusBiotech’s Australia’s Life Sciences Sector Snapshot 2019 research shows that NSW holds approximately 35 per cent of the Australian life sciences sector. The number of life sciences organisations in NSW grew from approximately 600 to 650 between 2017-19.

With more than 30 cellular therapy companies and in excess of 30 current clinical trials, Australia is demonstrating an emerging strength as an active regenerative medicine eco-system. Further, industry estimates expect the global regenerative medicine market to reach AU$120 billion (or US$86.4 billion) by 2035, and if Australia could capture just five per cent of that market it could create 6,000 new jobs and bring in AU$6 billion in annual revenue.

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Media enquiries: Karen Parr, Communications Manager, AusBiotech,
kparr@ausbiotech.org / P: +61 (0) 3 9828 1405 / M: +61 (0) 409 117 287

 

About AusBiotech

AusBiotech is Australia’s biotechnology organisation, working on behalf of members for more than 30 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 in the life sciences, including therapeutics, medical technology (devices and diagnostics), food technology and agricultural sectors.

More information

NSW Government’s media release.