Collaborations put Queensland at forefront of life sciences

PHILADELPHIA, USA: Queensland Premier Annastacia Palaszczuk has highlighted as successes for Queensland the signing of two agreements at the BIO International Convention that will enhance the translation of research to real products for people around the world.

The Premier congratulated Queensland University of Technology’s Institute of Health and Biomedical Innovation (IHBI), QIMR Berghofer Medical Research Institute in Brisbane, and Avesthagen for collaborating to produce better outcomes in the life sciences.

“I’m pleased to say that two collaboration agreements have been signed here at BIO International,” Ms Palaszczuk said. “These are a great outcome for Queensland at this year’s event.

“The joint collaborative research agreement between Queensland University of Technology (QUT) and IHBI and the QIMR Berghofer Medical Research Institute enables QUT to have access to specialist health and medical laboratories and facilities at the QIMR Berghofer building.

“This agreement will enable translational research with specific focus on infectious diseases, neuroscience and neuroimaging, creating unique capabilities in Queensland.

“IHIBI and Indian company Avesthagen have signed a licence and collaborative research agreement that will enable Avesthagen to commercialise a DNA-based diagnostic and preventative therapy for migraine headaches, developed and successfully trialled by IHBI.

“The revenue stream from the royalties on these sales will help fund other research and translational activities at IHBI.”

Avesthagen is a leading Indian life science company pioneering the convergence of food, pharmaceuticals and population genetics to provide predictive, preventative, personalised healthcare.

The BIO International Convention is the world’s largest biotechnology convention which attracts international investors and key business leaders.

“It is important for Queensland to be at BIO so we can profile our great research and provide to investors a clear message: Queensland is a great place to invest and collaborate,” Ms Palaszczuk said.

“We are producing very good research – we have excellent research infrastructure and a deep pool of talent in Queensland.

“You also have a government in Queensland willing to work with business and the research community to grow a strong life sciences industry in the state, to create jobs for Queenslanders and diversify the economy.”

Ms Palaszczuk said the Queensland Government’s Advance Queensland policy would build on these strengths, with the aim of transforming the state into a true knowledge economy.

“This is a comprehensive program to help Queensland attract and retain the best and brightest research minds in the country and to build Queensland’s reputation and capacity to conduct innovative research and development,” Ms Palaszczuk said.

“Advance Queensland identifies the policy settings that will enhance our competitive edge in key fields such as medicine, biotechnology, agriculture, bio-refining and clean energy production.

“It will drive more research and innovation in Queensland which, in turn, can stimulate economic output and growth.”

The BIO Convention pays big dividends back to the state. It has been estimated the benefit to Queensland of participation at BIO 2014 has resulted in $27.5 million in research and commercial outcomes for Queensland.

Media contact: premiers.media@ministerial.qld.gov.au