Queensland businesses in the emerging biomedical industry will have more opportunities to attract national and international customers thanks to the continued support of the Palaszczuk Government.
Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said the $1 million Round 2 of the Queensland Biomedical Voucher Program is delivering on the government’s by supporting existing businesses to grow and attracting new business to Queensland.
“Following the success of Round 1, which attracted a Canadian company and three interstate businesses to access Queensland’s biomedical capabilities, we expect Round 2 to continue to attract new customers to the state,” Mr Dick said.
“This will provide more opportunities for Queensland to enhance the industry’s national and global competitiveness.
“Our Round 1 funding support of $579,367 (excluding GST) leveraged impressive co-funding of $4,861,161.
“This is a significant inflow of capital and we expect it will boost future collaborations and create opportunities for other Queensland-based businesses who can assist in commercialising new biomedical products.
“We hope Round 2 is equally successful in bringing customers and capital to Queensland and embedding our world-class biomedical infrastructure and capabilities in the national and international biomedical product value chain.”
Mr Dick said the voucher program offers Queensland-based biomedical businesses funding support of up to $250,000 (excluding GST) to attract national or international clients to further develop their biomedical products in Queensland. The national or international client must pay at least 50 per cent of the costs of these services.
“The opening of Round 2 continues our support for the industry, taking advantage of the amazing work being done in Queensland and leveraging our globally-respected research base and state-of-the-art research facilities and hospitals,” he said.
“Eligible biomedical activities include design development and validation services, prototype building and testing, contract development and/or manufacturing services, contract research, specialist advice or professional services, commercialisation advice and services, and the cost of small items of plant and equipment.
“The voucher program is creating new professional relationships with international and national businesses, and it’s expected that these new partnerships and projects will generate additional deals and possible expansion into Queensland.”
Round 1 recipient and Patheon General Manager Dr Kym Baker said the company is providing services to Montreal-based Forbius to develop an antibody drug to help treat rapidly progressing cancers, and to Sydney-based DendroCyte for its BioTech project, which will see the development of a new monoclonal antibody to improve bone marrow transplant outcomes.
“It’s certainly an exciting time to be in the biomedical industry in Queensland,” Dr Baker said.
Other Round 1 funding is supporting a team of scientists and bioprocess engineers at the Queensland Node ³Ô¹ÏÍøÕ¾ Biologics Facility to use its world-class expertise and facilities to manufacture potential novel therapies for cancer treatment and inflammatory disease for Sydney-based company Cellmid.
Mr Dick encouraged Queensland-based biomedical businesses who can assist in commercialising new biomedical products to apply for Round 2 of the Queensland Biomedical Voucher Program.
Applications are open until 12pm, Thursday 27 June and can be made via the .
An expert panel will then assess applications against criteria that will identify projects which offer the greatest benefit to the local biomedical industry, and to Queensland.
