The BioBusiness component of the NSW Government's BioFirst Strategy supports the growth of biotechnology companies and the commercialisation of new technologies in the global market.
NSW builds international linkages for commercialisation of biotechnology research by supporting NSW companies and research institutions' participation in international conferences and trade shows, including BIO and Medica.
The BioFirst Biotechnology Precinct at the Australian Technology Park, supported by the NSW Government, provides facilities and support to help companies fast track the commercialisation of their technologies into marketable products and services.
NSW also works with organisations such as AusBiotech, Medical Device Network, Australian Technology Park Innovations, and the NSW Enterprise Workshop to deliver a program of professional development seminars in commercialisation/business skills for biotechnology companies.
Proof of Concept
As part of BioBusiness, DSRD's Proof of Concept program helps companies demonstrate the commercial feasibility of their research. This early stage support has reduced the technical and commercial risk of bringing the product or technology to market.
The program supports proof of concept projects to stimulate innovation and drive productivity in the life science industry.
More information can be found at BioBusiness Proof of Concept Grant.
DSRD snapshot - Biotechnology Success Stories
G2 Therapies
Sydney based biotechnology company, G2 Therapies and global healthcare leader, Novo Nordisk, announced one of Australia's most significant biotechnology licensing agreements in February 2006.
G2 and Novo Nordisk will collaborate to develop, manufacture and commercialise new anti-inflammatory therapies based on antibodies developed at Sydney's Garvan Institute of Medical Research. The new therapies will have applications for rheumatoid arthritis and other autoimmune diseases. The terms of the deal include an upfront payment of US$6million to G2 and a commitment to success-based payments worth up to a further US$105 million. The development of the G2 antibody therapies was supported by a NSW Proof of Concept grant.
Medica 2006
NSW medical device companies reported nearly A$17 million in sales and more than A$67 million in potential sales following a record result at Medica 2006, the world's biggest medical devices fair in Germany.
Lane Cove’s Tuta Health Care reported potential A$8 million agreements to sell products into the US, South East Asia, the UK and the Middle East, and inquiries from 42 countries.
Allvascular of St Leonards makes products to help repair vein damage, reported A$1 million sales to India. The company has shipped its first orders to Greece and the UK worth about A$75,000 and has received strong interest from 60 distributors from 33 countries, including France, Italy, Benelux, Turkey, Brazil, Germany and the Middle East.
Whiteley Corporation of Newcastle, which makes disinfectant products, reported more than A$6.4 million in sales over the next five years.
ASP Health Care reported sales worth more than A$850,000 sales to the US and New Zealand.
Coefficient Technologies has received more than 60 leads for its carbon fibre operating tables and sold more than A$200,000 worth of its operating tables to Thailand, India, New Zealand and Singapore.
General Health Care Supplies signed a contract of A$387,246 to distribute their surgical gowns in Italy.