AusBiotech Annual Report 2013 shows year of solid delivery

The AusBiotech Annual Report 2013 has been released, detailing another solid performance for AusBiotech and showing how it has delivered for its members and the Australian biotechnology industry. AusBiotech was steadfast in its advocacy and active in its representation and support of the industry, delivering a number of achievements in policy terms.

Members are invited to the 2013 AusBiotech Annual General Meeting (AGM), where the annual report will be detailed giving an overview of all the activities of the organisation for the period covering the 2012-13 financial year. The AGM will be held on 1 November 2013 at noon in the Plaza Auditorium, Brisbane Convention & Exhibition Centre, as part of Australia’s biotechnology conference, AusBiotech 2013. The report 2013 can be found here.

The period (1 July 2012-30 June 2013) was marked by the activation of the R&D Tax Incentive, which began returning vital cash flow to the sector, with at least $45 million in cash refunds announced in media releases by biotechnology companies with turnover under $20 million.

The leaderboard of ASX-listed biotech stocks continued their progress to market with clinical trials in phase III, new product approvals, market launches, and now building sales for products, making partnership deals and acquisitions.

AusBiotech conducted the annual Biotechnology Industry Position Survey 2013 and led a delegation of 18 of its member CEOs and directors to Parliament House for the fourth annual CEO Forum. These activities form a strong foundation for AusBiotech’s advocacy and representation each year. The survey gives us a snapshot of the industry performance, priority issues and sentiment, while the forum gives us an invaluable opportunity to hear about government programs in more detail and for a productive conversation on public policy issues that impact and shape the future of the biotechnology industry in Australia.

AusBiotech contributed to an unprecedented number of government consultations, particularly on intellectual property laws, and to significant federal reviews such as the McKeon Report, Productivity Commission review on compulsory licensing of patents and the Pharmaceutical Patents Review.

AusBiotech is leading the industry’s push for further tax reform to provide an incentive for innovative manufacturing by pursuing a ‘patent box’ tax incentive to support export-oriented local production, compete globally and retain home-grown IP in Australia. Tax reform, as an extension of the R&D Tax Incentive, is the preferred path - consultation with members is ongoing and discussions with members of parliament have started to gain interest.

AusBiotech farewelled the truly remarkable Emeritus Professor Nancy Millis AC, who passed away in late 2012 at the age of 90. Professor Millis was a highly respected researcher, educator and policymaker who oversaw the development of science-based regulation of gene technology in Australia. Her research in microbial physiology, fermentation technology and waste management established her international reputation as one of Australia’s leading scientists.

Professor Millis was honoured with her own ‘Australian Legends’ postage stamp in 2002. In 2006, the bacterium Millisa brevis was named in recognition of her contribution to water microbiology. More than a decade ago, AusBiotech named the annual Millis Oration at the national AusBiotech conference after this pioneer of Australia’s biotechnology industry and will continue to honour her each year as a highpoint of the industry’s annual gathering.

AusBiotech has continued to deliver its calendar of high-quality industry events and, as well as adding new specialty events, creating important forums and networking opportunities for industry. Earlier this year they held the inaugural Australia China Life Science Summit, in acknowledgment of the leading role China will take globally in the future of life sciences.

AusBiotech, with funding from the Victorian Government, commenced a project to support life science boards and directors’ development and promote best practice reporting and governance - further supporting the industry. This initiative includes two important resources to support biotechnology companies: an updated Code of Best Practice for Reporting by Life Science Companies; and the development and distribution of a companion document focused on governance for new directors and issues facing directors moving into life sciences for the first time - The Guide for Life Science Company Directors. The revised code was launched in May 2013 by the Hon Gordon Rich Phillips and the companion document is expected to be launched in late 2013.

AusEvents, AusBiotech’s professional event organising division, continues to fill its pipeline, attracting new conferences and working on bids for as far out as 2020. Of special note, AusBiotech was pleased to win the bid for the 11th Annual World Congress of the Society for Brain Mapping and Therapeutics (SBMT), which will be held in Australia for the first time in March 2014.

In a notable development for the AusBiotech Investment program, AusBiotech and Beacon Events commenced a partnership to deliver biotechnology investor meetings in Hong Kong and Melbourne until 2015.