11 December 2018
The Centre for Commercialization of Regenerative Medicine Australia (CCRM Australia) is proud to partner with the Israeli Network for Advanced Cell Applications (INACA) to advance the commercialisation of cell applications locally and globally jointly.
A memorandum of understanding has been signed on the 10th December during the Victoria-Israel Lifesciences Symposium of the Bioforum Summit 2018 in Tel Aviv.
Israel is at the forefront of cell and gene therapy research, punching well above its weight in global terms, with a vibrant scientific and industrial community. 4% of Israel’s GDP has been invested in civilian research and development, with a focus on biomedical research. The fruits of this investment are seen today with products strongly emerging through translation and towards successful commercial development and patient access.
Australia has a vibrant and world-class cellular therapy eco-system and is internationally recognised basic and translational research. Australia is also an ideal location for clinical trials, boasting an efficient Clinical Trial Notification process and a favourable R&D tax incentive. Thus, Australia is positioned well to serve as an innovation hub and a perfect partner for global companies seeking to accelerate their development and commercialisation activities.
The memorandum lays the foundation for joint commercialisation programs between the networks in Australia and Israel. The scope promotes collaborations in research and joint applications to support the international translation of advanced cell therapies, and education, which encourages doctoral student exchanges and fellowships.
CCRM Australia’s CEO Silvio Tiziani noted, “as the first hub of the CCRM global network, CCRM Australia is proud to support the development of other hubs in leading regenerative medicine countries such as Israel. The establishment of INACA forms an integral role in the CCRM Israel hub. We look forward to working with INACA and providing a conduit for INACA members to the Australian regenerative medicine sector and vice versa.”
Bioforum’s CEO and INACA board member, Yehudith Wexler commented “INACA is privileged to follow the footsteps of CCRM Australia, as part of the CCRM global network. The Israeli RM community is seeking to collaborate with the Australian scientists, developers, service providers, regulators and industry members in order to make products available for the public as soon as possible. The partnership declared is yet another step in enhancing the ties between us to advance our shared goals. ”
The signing of the memorandum is symbolic for the CCRM network as Israel moves towards establishing a local CCRM Hub. This agreement reflects the first commitment of any CCRM Hubs to collaborate to advance the translation and commercialisation of regenerative medicine.