Australia's biotech capital, Melbourne, has further strengthened its research and development capabilities through a newly formed Memorandum of Understanding (MoU) between Monash University and K-Bio Lab Hub – South Korea's government-backed biotech incubator.
Under the MoU, K-Bio Lab Hub will explore commencing its first Australian launchpad within the Monash Technology Precinct and support biotech startups from 2025, with ambitions to grow to 30 companies by 2027, creating new opportunities for joint research, clinical trials and commercialisation with Monash researchers and Australia's broader research and innovation ecosystem.
K-Bio Lab Hub is a major national initiative in Korea designed to accelerate biotech innovation by nurturing high-potential startups and connecting them to global partners. Its flagship research and development and incubation complex is being built in Songdo and will provide an international gateway for collaboration with partner institutions such as Monash.
The Melbourne launchpad will be primarily home to therapeutics ventures nearing clinical trials and early-stage drug discovery companies, enabling close collaboration with Monash's research strengths, particularly across pharmacology, drug discovery, clinical trials and commercialisation.
"This MoU with K-Bio Lab Hub reflects Monash's globally recognised excellence in research, and we're looking forward to linking our strengths in biotech with Korea's thriving ecosystem to accelerate discovery and impact," Professor Mike Ryan, Pro Vice-Chancellor (Research) said.
"Monash University is deeply committed to building enduring partnerships across the Asian region that deliver impact for our communities," Professor Craig Jeffrey, Deputy Vice-Chancellor (International) said.
The initiative is being developed with the support of Invest Victoria, the Consulate of the Republic of Korea in Melbourne and other local ecosystem partners to strengthen ties between Australian and Korean biotech communities.
About K-Bio Lab Hub
K-Bio Lab Hub is a government-backed biotech incubator and innovation hub based in Songdo, South Korea, established to accelerate the growth of high-potential biotech startups and connect them with international partners and markets.
About Monash University
Monash is a global research-intensive university with a strong focus on translating research into real-world impact through collaboration, commercialisation and industry engagement.
