New guide launched at major life science investor event

The Victorian Minister for Technology, the Hon Gordon Rich-Phillips, yesterday launched the new ‘Guide for Life Science Company Directors’ at the opening of Australia’s biggest biotech investment event in this part of the world to date - Australia Biotech Invest 2013.

An important component of a thriving life science industry is the quality of company governance, which in turn will support the development of the broader industry. The guide aims to support and enhance the performance of boards of directors leading public and private life science companies. AusBiotech developed the guide with the support of the Victorian Government in collaboration with industry.

The guide, endorsed by the Australian Institute of Company Directors, is a companion document to the Code of Best Practice for Reporting Life Sciences Companies, which was developed with the Australian Securities Exchange (ASX) to support high standards of communication and market disclosure to promote investor confidence. The guide can be found here.

The theme of this year’s Australia Biotech Invest, supported by the Victorian Government, is ‘Connecting capital with innovation’. It is jointly organised by AusBiotech and Beacon Events, who have also partnered to deliver biotechnology investor meetings in Hong Kong. Biotech Invest events draw key decision makers from the investment community including venture capitalists, private equity firms and investment bankers, as well as from governments.

The two-day investment event attracted 35 presenting companies and 300 investors from around the world, providing a platform for Australian life science companies to showcase their innovation for investment and partnerships. International investors such as Apposite Capital, Orbimed Asia, Ecor1cap, Fenex Capital Management and Medimmune Ventures are attending. Big pharma representatives include companies such as Genentech, AstraZeneca, Novo Nordisk A/S, Eli Lilly, Sanofi, Pfizer and Merck.

Discussions covered global biotech investment trends and opportunities, key challenges, strategic partnering for long-term success, how to access investment out of Greater China, and biotech financing and business models for future growth. Local analysts and brokers are on panels discussing biotech performance and the growth outlook in Australia and New Zealand. The event also features one-on-one meetings and networking activities.

Australia Biotech Invest 2013 lifts the profile of the Australian biotechnology industry and creates access to greater funding sources for local companies to develop world-class science into therapies, diagnostics and medical devices.