Devices celebrate AusBiotech status

The newly-formed Medical Device Network has become a formal program within industry association AusBiotech.

AusBiotech's executive director, Dr Tony Coulepis, said the arrangement would be finalised within a couple of weeks.

"It's crazy not to happen - our key objectives are almost the same and we have such strong synergy," Coulepis said.

"The immediate impact on the medical device network is that they are nationalised."

Currently the network has 400 members, most of whom are Sydney-based.

"[AusBiotech] already has 50 or more medical device members, so we are looking at an influx of up to 300 members," Coulepis said.

The number of members from the medical device industry could be doubled if the industry, from researchers through to the companies, were aware of the network, he said.

"There is monetary value for AusBiotech that comes with increased membership that will be pumped back into the industry and will make the organisation stronger so we can talk with a stronger voice to the government - to tackle the issues and fix them."

Coulepis said that many people in the medical device industry didn't believe they got the recognition they deserved.

Peter Taylor, CEO of Melbourne device company Mondo Medical, said many in the device industry didn't understand why pharmaceuticals were still seen as the glamorous side of biotechnology.

"In terms of return on investment, medical devices are a much better proposition than pharmaceuticals," Taylor said.

"Our time to market is a fraction, our costs are a fraction, and our total market sales are within the same vicinity [as pharma]. This is just a peculiarity of the business and the industry needs to take a look at itself and see where the revenue is really coming from."

The device network would have its own identity within AusBiotech, Coulepis said. "We will apply the AusBiotech network, machinery and infrastructure to help them grow and develop their network."

He said other sectors of biotech that could blossom and form individual new programs included human health, diagnostics, agriculture, veterinary and bioinformatics.

"It's an experiment - if it succeeds it will mean that AusBiotech becomes the umbrella for a number of programs," Coulepis said.

"If it doesn't work, then what we've done is nurture the medical devices get on to the next level of their development."