Best practice for biotech companies
The quality of company governance is an important component of a thriving life science industry.
AusBiotech has produced two resources to support life science boards (the Code and the Guide) and has made available a report designed to assist corporate governance in the sector. Click on the images below to download each publication.
The Code of Best Practice for Reporting Life Sciences Companies (the Code)
The Code (second edition, 2013) aims to support directors and management of Australian ASX-listed life science companies to adopt international best practice in reporting events to investors. It promotes investor confidence by helping directors balance confidentiality and continuous disclosure and includes educational support for clinical trials.
The second edition of the Code was revised by industry experts and included a broad consultation with investors and CEOs.
The Code is dedicated to the memory of Dr Michael Hirshorn, who shaped the development of the first edition and was a significant leader in the Australian biotechnology industry.
A web button is available if your company chooses to adopt the principles of the Code - contact AusBiotech here.
The Guide for Life Science Company Directors (the Guide)
The Guide (first edition, 2013) aims to support and enhance the performance of directors leading public and private companies.
Developed as a companion document to the Code, the Guide was produced with the support of the Victorian Government and industry experts. It is endorsed by the Australian Institute of Company Directors.
The Guide outlines the pressures, regulatory requirements and business cycles unique to the Australian life science industry. It supplies additional, specialised knowledge that is not available in mainstream governance courses for directors of life science companies. The content is tailored to less-experienced directors or those new to the life sciences industry.
.
Corporate Governance in the ASX-listed Life Sciences Sector
Corporate Governance in the ASX-listed Life Sciences Sector examined adherence to governance principles, diversity and shareholder influence in the Australian life science sector. Quantitative analysis was performed on 89 ASX-listed companies, who represented both small and large players in industry (ranging from $1 million to $30 billion-sized market caps).
"The overall picture is one of an emerging growth industry that would benefit from focusing on demonstrating excellent governance standards to investors, alongside the excellence in technology development and commercialisation already in place, if it is to succeed in becoming a significant market sector."
Dr Bronwyn Le Grice, report's author