AusBiotech and MTPConnect unite for landmark Summit on the nation’s biotech and medtech future

AusBiotech and MTPConnect have announced an ambitious new collaboration to host Australia’s first National Biotech and Medtech Development and Commercialisation Summit.

Set to take place in Canberra on 19 November 2024, the Summit will explore how Australia can amplify the “D” in its medical R&D efforts to secure the future of biotech and medtech innovation.

The Organisation for Economic Cooperation and Development (OECD) has ranked Australia 23rd in its list of innovative countries, but also shows that despite our secure and stable political environment and strong tertiary education sector, these innovations are not translated to innovation outputs. 

The event, poised to gather leading experts and policymakers, will tackle pressing questions about the nation’s ability to safeguard health security and medical innovation. A focal point will be strengthening Australia’s sovereign capabilities in the biotech and medtech sectors, amid global challenges such as pandemics, aging populations, and geopolitical tensions.

Rebekah Cassidy, CEO of AusBiotech, emphasised the critical timing of the Summit, saying “Australia is at a critical juncture. Globally, the biotechnology industry is gaining unprecedented attention.

“The combined pressures of pandemics, chronic disease, aging populations, climate change, health inequities and geopolitical tension – along with the rapid pace of innovation – have made health security, medical sovereign capability, investment competition, system agility and skilled employment all matters of critical national importance.”

Cassidy highlighted the need for a united industry voice, noting that Australia must strategically leverage its health and medical research strengths to build a robust biotech and medtech sector.

“It’s crucial that industry comes together with a stronger voice to be part of these discussions. I’m delighted that AusBiotech and MTPConnect are partnering to make this happen,” she added.

Stuart Dignam, CEO of MTPConnect, underscored the importance of backing Australian biotech and medtech start-ups to foster economic resilience and improve public health.

“Biotech and medtech are an essential part of Australia’s future – backing start-ups and SMEs to bring life-saving medical products from research labs to market drives stronger companies, a more resilient economy and healthier communities,” Dignam said.

However, he acknowledged the challenges facing the industry, including vulnerabilities in medicine supply chains and limitations in sovereign capabilities. He stressed the importance of capital and skilled talent to fuel sector growth.

“The Summit is the first time ever our current and future industry has come together to tackle these issues with a crystalised voice to government, and I couldn’t be more pleased to see MTPConnect and AusBiotech partnering in such a strategic way to drive growth of our sector,” he said.

The premier one-day Summit will bring together Australia’s top innovators, industry leaders, and policymakers to identify opportunities for advancing the biotech and medtech sectors. Discussions will focus on supercharging the development aspect of R&D, while addressing key drivers essential to ensuring that Australia’s health and medical commercialisation strategies remain robust for the future.

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