Ease into the new year with resolutions to grow the biotech industry

The new year has dawned with news that biotechnology has become a “20-year overnight success”, with The Age and The Sydney Morning Herald (4/1/14) reporting that “biotech has finally boomed”. The article reported the array of successes of 2013, which included IPOs, four- to nine-fold surges in share prices for a number of companies, high-profile investors turning their attention to biotech and a steady flow of capital raisings that totalled $739.1 million (Biotech Daily, 2/1/14), the highest amount since 2007.

Biotech Daily reported that its ‘Top 40’ Index ended 2013 up 18.1% for 2013, compared to the benchmark S&P ASX 200 15.1% up for the year and the majors (Cochlear, CSL and ResMed) up 17.9%. Meanwhile, news from Western Australia (The Australian, 23/12/13) details a shift in financiers’ choices from mining to biotech companies, including Andrew Forrest taking a million-dollar stake in Admedus.  

The time is here to list our New Year’s resolutions, which will buoy and grow the Australian biotechnology industry, support your success and ensure 2014 is our best year yet.

New Year’s resolution 1: Take advantage of support for your China strategy

AusBiotech has received funding support from the Australian Trade Commission, under the Asian Century Business Engagement grants scheme, to promote trade with China in medical devices and diagnostics. Help us shape the most appropriate resources for Australian medical devices and diagnostics companies interested in doing business in China. Please click here to participate in a five-minute survey to gauge your information needs to assist the development of AusBiotech support and resources.

Find out about doing business in China as AusBiotech holds the Australia China Life Sciences Summit (18-19 February 2014). Register at http://auschinasummit.com.au.

New Year’s resolution 2: Support and find out more about the Australian Innovation and Manufacturing (AIM) Incentive and other tax provisions

The AIM Incentive is a ‘patent box’-style tax regime that rewards innovative Australian businesses that manufacture and sell products from qualifying IP. The Coalition government has confirmed, post election, that it will consider a patent box incentive for Australia, and AusBiotech is working with Cook Medical, Deloitte and the Australian Export Council to develop the best model.

AusBiotech is advocating making end-to-end tax incentives an asset for innovation and business, with three pillars:

• Retain the R&D tax incentive, which is a top priority for the life sciences industry;
• Introduce the AIM Incentive; and
• Introduce fiscal incentives for investors in pre-revenue companies.

This and more will be asked in the upcoming 2014 CEO Industry Position Survey and related focus groups, due for launch shortly. Please help us collate the information by returning the survey and attending a focus group.

New Year’s resolution 3: Save the dates in your diary for key events

The AusBiotech portfolio of events for the year to come is now available here. Especially note that the biotechnology industry event of the year, AusBiotech 2014, is to be held on the Gold Coast from 28-31 October.

New Year’s resolution 4: Plan how to best present your company to investors

You may find the AusBiotech investment meeting options just the thing. See the list of upcoming investment platform events at www.ausbiotech.org/investment. Please note Asia Biotech Invest 2014 in Hong Kong (4-6 June 2014) and the Australian Life Science Investment Showcase in San Francisco, to be held on 20 June 2014, timed to precede BIO San Diego.

New Year’s resolution 5: Join in the conversation on LinkedIn and Twitter

As social media gains traction, so too the AusBiotech social media groups have become more active. Your can find us in LinkedIn by clicking here for the AusBiotech group with more than 2500 members, or clicking here for the AusMedtech group with almost 1300 members. You can also find and follow us on Twitter at twitter.com/ausbiotech.

Tell us what’s on your list: email alavelle@ausbiotech.org or communications@ausbiotech.org.

With so much going on, it’s bound to be an exciting year. Your industry body looks forward to a successful year as we continue to work with you and on your behalf to make it a year to be celebrated.