The Allan Labor Government is making sure more live-saving cancer treatments are made in Victoria, with the expansion of a national pharmaceutical manufacturer creating more local jobs at this Australian-first facility.
Minister for Jobs and Industry Natalie Hutchins today announced an investment to support IDT Australia to build a new facility in Boronia and create 25 new highly-skilled jobs.
The new facility will be home to four new laboratories featuring world-class equipment to create and manufacture a new class of life-saving cancer treatment therapies called Antibody Drug Conjugates (ADCs).
ACDs are targeted medicines that deliver chemotherapy agents to cancer cells, with this new facility set to be the first and only facility in Australia to locally produce accredited ADCs.
With this treatment set to replace almost 50 per cent of all chemotherapies in the next 15 years, this new facility will make it easier to access treatment.
ACDs have highly specific and accurate targeting ability which means more efficient treatment for patients - changing the lives of countless people battling the disease with more than 1,000 Australians tragically losing their lives to the disease every year.
This investment backs our world-class medtech sector which includes 650 medtech companies that employ 6,000 people and generates $1.4 billion in economic value every year.
We're also backing our local medtech sector to drive new developments, attract investment and create new local jobs through the Government's $15 million Made in Victoria - Industry R&D Infrastructure Fund and our $20 million Manufacturing and Industry Sovereignty Fund.
As stated by Minister for Jobs and Industry Natalie Hutchins
"We're making sure we create more jobs and industry opportunities right here in Victoria. That's why we're investing in this nation-leading facility that will save lives and support more local manufacturing and employment opportunities."
As stated by Member for Bayswater Jackson Taylor
"We're proud to have this world-class facility right on our doorstep - creating better outcomes for local patients and manufacturers for years to come."
As stated by IDT Australia CEO Paul McDonald
"We are thrilled with the support of the Victorian Government to accelerate our advanced technology in antibody drug conjugates and add to the states capabilities in this progressive technology to treat cancer patients".
