News & Trends - Biotechnology

AusBiotech seeks sector feedback on strategic roadmap for regenerative medicine

Health Industry Hub | August 4, 2021 |
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Biotech News: A draft strategic roadmap has been released for a new regenerative medicine (RM) Catalyst, and sector feedback is sought from those interested in the future of RM in Australia.

The Catalysing Regenerative Medicine in Australia, draft Strategic Roadmap provides the strategic goals, objectives and priority actions for a national RM sector Catalyst. It includes an outline of the mission and vision; strategic goals, objectives, and priority actions; and detailed discussion of the major issues informing the strategic roadmap.

The draft Strategic Roadmap has been developed as a key part of the RM Catalyst Project. The project has been supported by a consortium of seven members that hold extensive insight and experience in the life sciences and RM landscape in Australia: AusBiotech, Medicines Australia, Cell Therapies Pty Ltd, Novartis Pharmaceuticals Australia Pty Ltd, Biointelect Pty Ltd, Research Strategies Australia and Australia’s Industry Growth Centre, MTPConnect.

AusBiotech CEO, Lorraine Chiroiu said “The draft Strategic Roadmap for a national regenerative medicine (RM) catalyst body offers priorities that, when addressed, will unleash the potential of regenerative medicines in Australia. It’s a burgeoning area of health care that’s full of potential; this Roadmap considers how to better coordinate and collaborate within Australia and the global ecosystem to drive increasing commercial opportunities as well as increased patient access and outcomes. It’s critical as we prepare for our RM future as, without a high degree of integration, the Australian RM sector will miss out on significant commercial and health outcomes.

“As we developed the draft Roadmap, we consulted with stakeholders across the RM pipeline. We now invite the sector to engage with us and provide further input as we seek to finalise it. Priority areas identified in the Roadmap include talent, collaboration and cooperation across the value chain, long-term funding, market access, and infrastructure,” Ms Chiroiu added.

Silvio Tiziani, CEO, Centre for Commercialisation of Regenerative Medicine (CCRM) Australia, told Health Industry Hub “The roadmap follows from the MTPConnect sponsored report published in October 2018, Regenerative Medicine, Opportunities for Australia. We were proud to have an integral role in the development of this report which made some key recommendations to advance Australia’s regenerative medicine sector.

“The Catalysing Regenerative Medicine in Australia – Draft Strategic Roadmap is the first of a series of documents released by the Ausbiotech led consortium, building on the initial MTPConnect report’s recommendations and providing a much-needed roadmap for the sector.  

“CCRM Australia supports any activities which will help Australia’s regenerative medicine sector grow and develop and take its place in the global efforts to develop these advanced therapies,” Mr Tiziani said.

The uniqueness of RM, in both opportunity and in challenges, drives Australia’s need for a unified, national RM sector ‘catalyst’ collaboration body championing its cause. Many of the issues discussed in the Strategic Roadmap can be partially addressed through greater coordination and collaboration in Australia across the RM development pathway.

Developing and sustaining the necessary capacity and capability requires a coordinated approach across the public and private sectors. This needs to be led by industry and supported by government.

The Catalyst’s proposed vision is that Australian patients have access to world-class RM therapies sustained by a thriving Australian RM industry. Its proposed mission is to create an end-to-end world-leading value chain that can discover, develop, and distribute RM, while creating jobs, commercialising research, and exporting Australian therapies to the world.

Australia has an opportunity to harness and leverage a growing and active global RM industry. If we get this right, success could be worth at least $6 billion in annual revenue, 6,000 new jobs for Australia by 2035 and earlier access to ground-breaking therapies for Australian patients.

The Project received matched funding through MTPConnect’s Growth Centre Project Fund Program, an Australian Government initiative supported by the Department of Industry, Science, Energy and Resources. It is a competitive matched funding program that aims to invest in ideas to boost the innovation, productivity and competitiveness of Australia’s MTP sector.

The sector is invited to download the draft Strategic Roadmap here, and to send feedback to Camille Shanahan, National Projects Manager – Regenerative Medicine, by Friday 13 August 2021.

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