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News & Trends - Biotechnology

State-based biotech associations sign MOU

Health Industry Hub | February 26, 2024 |

Biotech News: With a goal towards fostering collaboration and support within the biotech sector, BioNSW has announced a Memorandum of Understanding (MOU) with state industry associations BioMelbourne Network and Life Sciences Queensland (LSQ). This development has been welcomed by the biotech industry.

The strategic partnership is the result of the efforts put forth by LSQ’s Dr Erin Evans, BioMelbourne’s Jeff Malone, and BioNSW’s Dr Brad Walsh and Anthony Murray.

Mr Malone, CEO at BioMelbourne Network, who is set to leave the organisation on 1 March, expressed his optimism about the collaboration, stating “This MOU is not the beginning of our collaboration and support; it reflects the work we’ve been developing over the past year with trade missions, events, and other advocacy activities. Stronger together.”

BioNSW, launched in August 2023, aims to address a notable gap in the local biotech sector that the national peak body AusBiotech was unable to fulfil.

The non-for-profit organisation recently hosted a MedTech delegation, led by Governor Tim Walz from The Department of Employment & Economic Development of the Minnesota Trade Office. Minnesota, a recognised centre of health innovation, boasts the number one health technology cluster globally, including industry giant Medtronic. This delegation served as a platform for fostering innovation partnerships and strengthening ties between Minnesotan and Australian biotech companies.

Minnesota is also among 31 tech hubs designated by the Biden administration. Peter Frosch, President and CEO of Greater MSP (Minneapolis-St. Paul region), told Health Industry Hub that he credited this achievement to the Minnesota MedTech Hub 3.0 propelled by Geoff Martha, Medtronic’s global Chairman and CEO, and a coalition of major players in the medical technology landscape.

While the biotech MOU underscores a commitment to advance state-based activities, AusBiotech remains the peak national body driving policy outcomes for the biotech sector.

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