Financial Daily from THE HINDU group of publications
Wednesday, Apr 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 27, 2005 |
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Industry & Economy
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Bio-tech & Genetics Western Australia keen on biotech alliances Our Bureau
Mumbai , April 26 INDIA and Australia are expected to be major players in the biotechnology sector in the Asia Pacific region. In that context, there is a possibility of Western Australia and India working together on biotech alliances to leverage on each others strengths, Mr Keith Anthonisz, Manager, Biotechnology, Department of Industry and Resources, Government of Western Australia. Australia has 400 biotechnology firms, the largest number in the Asia Pacific region; of these, Western Australia has 140 companies. A range of companies had emerged out of research institutes and State agricultural biotechnology centres, he said. Western Australia will be able to share its experience in clinical trials with India. "Some of the Australian companies have a long history of working with the pharma industry," Mr Anthonisz said. India, according to him, is working on setting up standards for conducting clinical trials. India is also working on skills development. India has cost advantage in some basic research and clinical work. He acknowledged that there are some issues that India needs to iron out to capture growth in biotechnology. These include regulatory issues, quality controls and IPR . Returns, according to Mr Anthonisz, from biotechnology is phenomenally high. Venture funds are now looking to invest in biotech firms. The Western Australian Government has a programme to support biotechnology and is looking at support to companies and research institutes to form partnerships. The Western Australian Government is also sponsoring AusBiotech 2005, a national biotechnology conference to be held in Perth in November 2005. Proteomics International is a drug discovery service company and is active in India.
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