AusBiotech Annual Report 2012 details year of significance

The AusBiotech Annual Report 2012, released this week, details another significant period for AusBiotech and for the Australian biotechnology industry, with: continued focus on the public policy impacting the sector; a stronger concentration of our commitment to attracting investment in promising Australian biotechnology companies; and the culmination of the anniversary celebrations, marking 25 years since AusBiotech began as the Australian Biotechnology Association (ABA).

The Report that cover the period of the 2011–12 financial year, shows the strong performance of the organisation on behalf of the biotechnology sector in an unpredictable economic market, and gives an overview of all the activities of the organization.

You can read the AusBiotech Annual Report 2012 here.

In public policy terms the period began with the momentous news in July 2011 that R&D Tax Incentive had finally won cross-bench support that saw it passed into law in September 2011 and retrospectively effective from 1 July 2011.

AusBiotech then turned its attention to the roll-out of the Tax Incentive and continued its work on the ‘gene patent’ debate – which had erupted in early 2011 – to ensure that the mirror Bill in both Houses of the Parliament did not pass and cause far-reaching unintended consequences. When the Senate Inquiry into the gene patents Bill delivered its report in September 2011, which agreed with AusBiotech and the sector that the bill “should not be passed,” there was much to celebrate.

In other celebrations, AusBiotech concluded the 25 year celebrations since it began as the ABA with almost 400 people gathering for the industry’s night of nights to mark a now highly-successful Australian biotechnology industry.

Biotechnology companies and international investors reported excellent results from the AusBiotech annual conference in Adelaide in October 2011, with programs and activities dedicated to helping companies and researchers connect with investors and partners, stirring substantial international interest.

The AusBiotech investment series grew from strength to strength with regular annual showcases now scheduled for the USA and Australia. The period also saw AusBiotech make its first foray into Europe with an Australian delegation providing a showcase for European investors in late 2011.

The report also notes that AusBiotech and the biotechnology community mourned the tragic loss of three highly-respected AusBiotech members, Dr Alistair Murdoch in August 2011, Dr Mike Hirshorn in November 2011 and Dr Andrew Baker in March 2012.