Final ‘foundation stones’ set for future of Australian regenerative medicine
27 October 2021
The ‘foundation stones’ for Australia’s regenerative medicine (RM) future are now complete, with the publication of three resources offering new knowledge and benchmarking, purpose, and a firm, unified direction for the industry’s future.
Benchmarking the investment in the sector in Australia in 2019 and 2020, Australia’s Regenerative Medicine Investments Database reveals the extent of private funding and active interest that has been invested into the sector. Investment increased by 113 per cent between 2019 and 2020, and with $394.1 million invested into RM in 2020, this accounts for approximately 23 per cent of the overall capital invested into the Australian biotech sector.
In addition, a group of four industry case studies demonstrates the breadth of cell and gene technology development present in Australia and its potential for addressing and managing patients’ unmet needs; and the Strategic Roadmap for the Regenerative Medicine Sector is charting the way ahead with priorities identified to support the sector’s growth.
Developing and sustaining the necessary capacity and capability requires a coordinated approach across the public and private sectors, and the uniqueness of RM in both opportunity and in challenges is why Australia requires a unified, catalyst body led by industry and supported by governments championing the cause. As such, Australia’s new Cell and Gene Therapy Catalyst, co-led by AusBiotech and Medicines Australia, is committed to implementing this new strategy.
Included within the Strategic Roadmap is a sub-report that further investigates the skills and talent specific to the sector, and forms a plan to attract long term investment in the sector and the role of Australian biotech companies partnering with global companies.
The four case studies published, demonstrate a depth of information on cell and gene technology development
and their potential for addressing and managing unmet needs including: Cell therapy (Mesoblast), Gene therapy (Pfizer), Gene Modified Cell (Novartis) and Tissue Engineered Products (Orthocell).
Outlined yesterday at the AusBiotech 21 Catalysing regenerative medicine in Australia panel discussion, the Regenerative Medicine Consortium has now delivered the final elements of the 12-month project, which collectively demonstrate the breadth of opportunity present in the Australian RM sector.
The three new resources published now add to the five resources previously released:
• Australia’s Regenerative Medicine Global Pipeline Tracker
• Australia’s Regenerative Medicine Manufacturing Capacity & Capability
• Australia’s Regenerative Medicine Clinical Trials Database
• The Regenerative Medicine Value Chain, The pathway from discovery to patient delivery
• Australia’s Regenerative Medicine Catalyst Body Funding & Model Structure
The RM Consortium’s seven partners hold extensive insight and experience in the life science and regenerative medicines
landscape in Australia. Led by AusBiotech, partners include Medicines Australia, Cell Therapies Pty Ltd, Novartis Australia
and New Zealand, Biointelect Pty Ltd, Research Strategies Australia, and MTPConnect.
The RM Consortium has received matched funding of $300,000 through MTPConnect’s Growth Centre Project Fund Program, an Australian Government initiative supported by the Department of Industry, Science, Energy and Resources.
Further information about the Consortium is available from AusBiotech's website.
Reproduced with thanks to AusBiotech's Director Communications Karen Parr.