Australian biomedical innovations are receiving an extra boost as Australia’s national science agency CSIRO contributes to filling in the ‘missing link’ in our vaccine and pharmaceutical pipeline.
Opening the new National Vaccine and Therapeutics Lab in Melbourne today, Minister for Industry and Science the Hon. Ed Husic MP said investing in skills and infrastructure is key to strengthening Australian manufacturing.
“Australia’s competitive advantage in manufacturing lies in high-value, high-quality products where competitiveness, productivity and quality can be enhanced through advanced manufacturing processes and systems,” Minister Husic said.
“The new National Vaccine and Therapeutics Lab exemplifies the translational role our national science agency plays in Australia’s biomedical ecosystem. It will help vaccine and drug candidates get ready for commercial production by Australian industry for local and global markets.
“As the newest member of Australia’s National Labs network, the facility will bring our research and university sector together with local start-ups and small to medium enterprises to ensure great Australian ideas make it out of the lab and reach those that need it quickly and safely.”
Top Australian Brokers
- eToro - market-leading social trading platform - Read our review
- IG - Extensive product array and user-friendly platforms - Read our review
- IC Markets - experienced and highly regulated - Read our review
- Avatrade - powerful trading tools - Read our review
The biomedical industry is a priority growth area for the Australian Government and is estimated to add more than $8 billion gross value to the economy over the next 10 years.
“There is nothing more important than the health and wellbeing of Australians. As we navigate a rapidly changing world, being able to produce medicines and vaccines onshore for our community and our global trade partners in Asia, the Pacific and beyond can only hold us in good stead,” Minister Husic said.
“With esteemed scientists and state-of-the-art facilities, Australian industry now has a perfect partner to translate scientific discoveries into much needed medicines and vaccines.”
The Federal Government has contributed $6.06 million to the facility in direct funding from MTPConnect, Australia’s growth centre for the medical technologies, biotechnologies and pharmaceuticals sector ($1.1m); from Therapeutic Innovation Australia ($1.56m); and from leveraged matching contributions from industry ($3.4 million).
Researchers and businesses interested in working with the new facility should contact CSIRO.
Published by The Hon Ed Husic MP Minister for Industry and Science
