AusBiotech 2009 confirms biotech sector in recover

AusBiotech 2009 confirms biotech sector in recovery

Thursday 12 November 2009 - The AusBiotech 2009 conference has confirmed the Australian biotechnology sector is on the rise again, having survived the economic downturn and emerging stronger than before.

1423 delegates from 30 countries around the world gathered in Melbourne from 27 -30 October for the industry’s premier biotechnology conference in the Asia Pacific region.

“The event was a resounding success and a fantastic showcase of local research and development, highlighting the investment potential of both the early and late stage work currently taking place in Australia,” said Dr Anna Lavelle, CEO AusBiotech.

International investors at the inaugural Australasian Life Sciences Investment Summit overwhelmingly agreed that Australia’s research and science is world class and highly regarded overseas.

“The Summit achieved its goal of showcasing Australian R&D and encouraging investment in Australian biotechnology...l think that there will be a lot of follow up with local companies,” said Selena Chaisson, Director of Healthcare Investments at Bailard based in California.

“There has been a visible improvement in the state of the sector with a significant rise in both local and international funding of companies over the last three months, and a clear flow of capital back into the sector opening up a number of new opportunities for Australian biotechs,” said Dr Lavelle.

“There was an overwhelming sense amongst delegates and participants at the conference that the worst of the economic downturn is behind us. With the PWC life sciences index up 5.6% in the year to June 2009, there is a strong belief that the recent good performance of the sector will be sustained over the coming year,” she added.

This year’s conference boasted significant representation from a number of countries including the UK, USA, Singapore, South Korea, Canada, New Zealand and for the first time South Africa, illustrating the strong international reputation of both the event and the local biotechnology sector.

The conference provided invaluable opportunities for relationships and partnerships to be forged amongst representatives from Australian biotech’s and international and local investors and pharmaceutical companies. More than 3680 meetings were requested throughout the duration of the conference, with 2159 confirmed through the Business Matching Program.

“Following the success of last year’s conference, AusBiotech 2009 was yet another great event. Importantly it demonstrated the recovery of the biotech industry out of the economic downturn and pointed to the emergence of a stronger sector than ever before as a result of local R&D successes close to market and increased investment in Australian companies,” said Dr Lavelle.  

To access speaker presentations from AusBiotech 2009 please click here.

ENDS

© Scoop Media