Eleven Queensland life sciences companies will get the chance to pitch to international investors at a special investment seminar at the BIO 2019 International Convention in Philadelphia this week.
Innovation Minister Kate Jones said the Queensland Investment Seminar gave Queensland biotechnology researchers and start-ups an opportunity to attract key investment in promising discoveries.
“The annual BIO convention is the world’s largest gathering of global biotech and pharmaceutical leaders,” Ms Jones said.
“BIO 2018 in Boston drew more than 16,000 biotechnology industry leaders from 67 countries. This is where the world’s leading investors come to see the next big thing.
“With all the right people in one place, it makes sense to have our best and brightest pitch to some of the world’s most highly-regarded biotech investors.”
Ms Jones said the biggest challenge to the life science industry worldwide was in commercialising research.
“It’s difficult to attract the capital needed to move research along the commercialisation pipeline and out into the marketplace,” Ms Jones said.
“Venture capital financing offers the best hope for emerging biotech businesses to sell their product.
“Queensland has plenty of talent. We’re linking our experts with venture capitalists who have the means to invest in our research.”
In Australia, venture capital fundraising was $A1 billion in the 2016/17 financial year.
The United States generates seven times more venture funding per capita.
“US investors also have a good appetite for investing in projects with long-term returns and a more tolerant approach to risk, which suits the life sciences industry perfectly given it can take years for a new product to transition from the lab to the marketplace,” Ms Jones said.
Ms Jones said this year’s investment pitches include a potential new treatment for asthma, a novel cancer therapeutic and sensor technologies for broadacre farming.
This year’s event has been organised by Trade and Investment Queensland and industry body Life Sciences Queensland Limited, along with Thomson Geer Lawyers.
Ms Jones said helping researchers bridge the funding gap was an important aim of the Palaszczuk Government’s Advance Queensland initiative.
The Minister is leading a delegation of more than 100 business and research leaders from Queensland’s life sciences industry to this year’s BIO, including Queensland Chief Scientist Professor Paul Bertsch and a group of regional mayors.
