Governments committed to life sciences
National (federal) government
The Australian Federal Government’s Pharmaceuticals Industry Action Agenda is working to position Australia as a global pharmaceuticals hub via initiatives such as the Pharmaceutical Partnerships Program (P3). P3 can provide targeted funding to companies conducting eligible pharmaceutical research and development activities such as screening, synthesis and extraction of therapeutic substances, drug formulation and stability testing as well as other activities that may attract funding.
The Federal Government is a strong supporter of the biotechnology sector and has invested $8.3 billion over a 10-year period from 2000-01 to 2010-11 through its science and innovation strategy, Backing Australia’s Ability (Source: Australian Biotechnology Handbook 2007).
In particular, funding has been increased for health and medical research through the National Health and Medical Research Council (NHMRC) to provide grants and other research funds across entities in the various States of Australia. The following table shows allocations for biotech-related NHMRC Project Grants for 2007.
The Queensland Government is committed to developing the biotechnology, pharmaceutical and nutraceutical industries via its Smart State initiatives which include Biotechnology: Setting New Horizons and the Queensland Pharmaceutical Action Plan. These initiatives aim to:
- attract global pharmaceutical R&D, manufacturing and headquarters establishment
- raise awareness of Queensland as an investment location.
Another initiative is to establish BioPharmaceuticals Australia (BPA), state-of-the-art GMP-compliant scale-up manufacturing facilities for up to phase II clinical trial materials supply. This scale-up manufacturing will focus on small molecules and biologics.
Queensland has Australia’s largest biotechnology research facility, the Queensland Bioscience Precinct, and the largest medical research centre in the southern hemisphere, the Queensland Institute of Medical Research (QIMR).