The federal Department of Health has launched a new 'Biotechnology in Australia - Strategic Plan for Health and Medicine' as part of the 2022-23 Budget.
The Plan sets out three pillars of Government support for life sciences, and signals how its current initiatives align:
- Pillar 1: Supporting world-class research and development by strategically investing in areas of need and driving strong partnerships between academia, government science organisations, industry, health services, and consumers.
- Pillar 2: Facilitating high-quality and secure clinical development that attracts global interest by continuously improving research capabilities, processes, and infrastructure thus ensuring they remain or become globally competitive.
- Pillar 3: Accelerating commercialisation through partnerships and collaborations between academics, government science organisations, and industry; regulation that is fit-for-purpose; and by supporting the development of advanced manufacturing capabilities for biopharma and med-tech products.
It also "provides a framework to coordinate future commitments that identify and address gaps as they emerge across investments, infrastructures, skills and capabilities."
Lorraine Chiroiu, CEO, AusBiotech, said: "As the peak industry organisation for biotechnology, we are delighted to see the Government recognise the opportunity that biotechnology presents for Australian society and its economy."
"AusBiotech supports this commitment to taking a long-term approach that looks beyond election cycles, that structurally supports the Australia's biotechnology sector to thrive, and that builds on and complements AusBiotech's Biotechnology Blueprint that has been developed by industry over the past two years."
Read the Australian Government's long-term plan for health and medical biotechnology here.
The Biotechnology Blueprint outlines goals, which have helped to define objectives, steer strategies and craft tactics that will drive and shape the biotechnology industry's growth through to 2032 and beyond.
The Government's vision for Australian biotechnology is to create a vibrant and thriving ecosystem; AusBiotech looks forward to working closely with the Department of Health to deliver on this vision, and on the strategic investments that will solidify and strengthen Australia's sovereignty and global standing in biotechnology.
