New facility to boost Australian Bio-Med manufacturing
Published: 22 October 2018
End-to-end Australian biopharmaceutical production for small to medium enterprises will soon be possible, with the Victorian Government committing funding for a ground-breaking early-stage biologics manufacturing facility, to be built at CSIRO’s Clayton Biomedical Manufacturing Precinct.
The Victorian Government has allocated $1.5 million toward the construction of an Advanced Biotechnology Manufacturing Platform to make biological products such as vaccines, antibodies, growth factors and stem cells for testing in human clinical trials.
Australian biotech companies are currently forced to manufacture their promising biological candidates overseas, and the high cost prevents many smaller companies from taking new therapies beyond the laboratory.
A local facility will allow Australian biotech companies to spend their R&D investment in the local economy, supporting local jobs, and boosting the number of companies undertaking clinical trials in Victoria.
Advanced manufacturing, including medical and high-tech products, is key to the state’s economic future, and the Victorian Government actively supports sector development through the Future Industries Fund.