Funding and geography top barriers in biotech sector: Noxopharm CEO

Biotech News: In this Health Industry Hub podcast, Dr Gisela Mautner, CEO of Noxopharm, delivered a captivating exploration of the biotech industry, shedding light on Australia’s pivotal role in shaping global innovation.

When discussing the local biotech landscape, she pointed to the opportunities presented at the roundtable co-hosted by AusBiotech and BIO, which included Ed Husic MP, Minister for Industry and Science.

“What was important for me to discuss with the minister was the challenges for ASX listed biotech companies, especially regarding funding,” Dr Mautner explained.

Addressing the complexities faced by the sector, she acknowledged the local barriers, particularly in comparison to the global biotech scene, and stressed the urgency of addressing these issues.

“The key challenge is securing access to funding both initially and also on an ongoing basis. The industry has very long development cycles which are often attempted with no revenue,” she said.

She delved into the intriguing reason behind why Australian biotech companies are listing on the ASX even before generating revenue – an uncommon practice globally.

“And that puts a lot of strain on small companies,” she noted.

As for the immediate actions required, Dr Mautner outlined the critical steps that must be taken to support the local biotech sector to its full potential, ensuring Australia’s “promising technologies…will ultimately deliver beneficial results for everyone.”

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