PharmaTelevision - Biotechnology in Australia: The Government's Vision

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Video title: Biotechnology in Australia: The Government's Vision

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In this episode of PharmaTelevision News Review, Fintan Walton talks with The Hon Anthony Byrne MP, Parliamentary Secretary for Trade and Parliamentary Secretary to the Prime Minister of the Australian government.

Filmed at AusBiotech 2009, they discuss:

• Australia's trading within biotechnology
• attracting pharmaceutical firms into Australia with tax incentives
• marrying up investors with Australian institutions
• why the Commercial Ready scheme was scrapped
• the Australian government's vision for biotechnology companies

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

Australia's trading within biotechnology and marrying up investors with Australian institutions

Fintan Walton:

Hello and welcome to Pharma television news review here in Melbourne Australia. On this show I Anthony Byrne who is the parliamentary secretary for trade and Parliamentary secretary to the Prime minister, welcome to show.

Anthony Byrne:

Thanks very much, thanks good to be here today.

Fintan Walton:

As a parliamentary secretary for trade your responsibility is obviously to make sure that the Australian economy moves in a positive way particularly from a trade perspective, so when it comes to Australiaand trying to attract businesses into Australia what's Australia actually doing?

Anthony Byrne:

It's 0.00.51 today for example with the program that Aus- Trade has co's jointly sponsored with the Victorian government that would overseas venture capitalists into meet with Australian companies in the area of Biotechnology and even just meeting with some of the panel of biotech people from and venture capitalists from America today, they are actually talking about looking at some Australian companies in providing funding, seed capital funding for some of the new projects that are coming online by Australian pharmaceutical companies. So I couldn't think of a more practical example particularly in the global financial climate where there has been a problem with venture capital being provided to startup biotechnology companies to actually have Aus-trade to the Australian government bringing companies over here to meet with Australian businesses and made this dealing, I have just been speaking to a couple of the biotechnology companies and they have said we have got three companies that we want to start looking at. So this is about building relationships and I think that's incredibly positive development and a great initiative for bio technology companies in Australia but also sort of the marriage with venture capitalists in America and biotechnology companies in Australia.

Fintan Walton:

So that brings US dollars, that brings US dollars into Australia?

Full video transcripts are available with PharmaTelevision Premium Content. Click here to buy a subscription or sign up for a 14 day free trial.

The Hon Anthony Byrne MP
Parliamentary Secretary for Trade and Parliamentary Secretary to the Prime Minister

Australian Government