A new year, a new look and good news is rolling in already…

Last year ended on a high for biotechnology industry policy, with the R&D Tax Incentive up and running, the doubling of the final tranche of the Innovation Investment Fund (IIF) with an extra $100 million and improved provisions for Commercialisation Australia grants, and the new year is off to a great start with big news for Bionomics, the release of BioShares’ 2011 capital raising figures, a refreshed AusBiotech logo, an investor meeting in San Francisco and a renewed commitment to the industry.

Less than a week into the new year, Bionomics has announced a collaboration, research and licensing agreement with US-based Ironwood Pharmaceuticals worth up to US$345 million to develop and commercialise the anti-anxiety compound, BNC210.

For the fifth year, AusBiotech has managed a presentation of Australian companies to San Francisco for an investor showcase held in conjunction with invitation-only the 30th JP Morgan Annual Healthcare Conference. The event, held on the 9 January, was again successful attracting 250 participants, and providing a valuable platform for Australian companies seeking investment and partnerships.

BioShares has released its annual capital raising figures for the industry, with a 14% increase in 2011 to $630 million, after 2010 saw $554 million raised. The notable capital raises were made by Pharmaxis, Starpharma and Phosphagenics.

Members will note the AusBiotech logo has been updated with a new lime and charcoal colour palette while retaining its trademarked form exactly. The new look reflects a renewed commitment at AusBiotech to grow and sustain the industry and to represent its membership.

The annual CEO Industry Position Survey will begin next week and provide an important opportunity for members to participate in the consultation process to contribute to industry metrics and AusBiotech’s policy priorities.

In policy terms AusBiotech in 2012 will be focussing on the smooth roll-out of the Tax Incentive, more attention to advanced manufacturing and greater access to venture capital funds. AusBiotech will work with a new innovation Minister, the Hon Greg Combet, this year after the Prime Minister’s re-shuffle of the front bench late last year and continue to work with former Innovation Minister, Senator the Hon Kim Carr, who will be dedicated to manufacturing, an issue that has gained significant importance for AusBiotech recently.