Some of Australia’s best and brightest science innovators had the chance to pitch their ground-breaking medical projects to potential investors at AusBiotech’s inaugural Early-Stage Investment Forum, in Brisbane yesterday (1 November).
Minister for Science Leeanne Enoch said this was a chance for these early-stage science innovations to be presented to investors in the hope of progressing to commercial reality.
“Researchers and science entrepreneurs get to pitch their projects to an expert panel of potential investors, including corporate venture capitalists, university commercialisation agencies and early-stage investors,” Minister Enoch said.
“I am pleased that most of the new technology pitched was from Queensland.
“The presenters received immediate feedback from some investors, with a longer-term view to securing deals.
“The projects target some of the world’s biggest health problems such as cancer, Hepatitis C and HIV, chromosomal diseases, Alzheimer’s, diabetic neuropathy, and autoimmune diseases.
“Many of the projects seeking investment combine cutting-edge technology with scientific breakthroughs.”
They include a unique cancer screening method; a hyperstable flu vaccine that doesn’t need cold storage; a DNA vaccine to treat Hepatitis C and HIV; and first-in-class oral treatments for late-stage breast and prostate cancers.
“These projects require significant funding to travel along the commercialisation pipeline where each stage is expensive,” Ms Enoch said.
“Queensland has research excellence in life sciences, but we need investment from big business interests to advance from the early stages, such as stage 1 clinical trials, into medical success.
“Without such investment, combined with Australian research excellence, we would not have the Gardasil vaccine against human papillomavirus (HPV) or the Relenza anti-flu drug.
“Events such as this investment forum provide a catalyst to the vital life sciences industry, an industry that is highly valuable to our state economy, and to our future health and wellbeing.”
AusBiotech CEO Lorraine Chiroiu said the organisation was excited to bring the national conference back to Queensland.
“Queensland is an important contributor within Australia’s life sciences industry and so it is with great anticipation that we once again bring together inspiring presenters and continue fuelling innovation across industry at our 2018 national conference in Brisbane,” Ms Chiroiu said.
“AusBiotech is committed to strengthening relationships across and within the biotechnology industry, with particular emphasis on fostering connections between industry, investors and innovators.
“As Australia’s industry organisation, we recognise the critical role of the Queensland Government’s support, which is paying real dividends for the state.”
The Queensland Government is host state of the 2018 AusBiotech National Conference, which is being held in Brisbane from 31 October to 2 November.
Minister for Environment and the Great Barrier Reef, Minister for Science and Minister for the Arts
The Honourable Leeanne Enoch