Global biotech company relocates to Brisbane

Published Wednesday, 09 November, 2016 at 10:01 AM

JOINT STATEMENT

Minister for State Development and Minister for Natural Resources and Mines
The Honourable Dr Anthony Lynham

Minister for Health and Minister for Ambulance Services
The Honourable Cameron Dick

The opening of the new Admedus office in Brisbane is a coup for Queensland as the state strengthens its reputation as a regional and global hub for health and biotechnology innovation and investment.

Minister for Health and Ambulance Services Cameron Dick said the decision demonstrated the success of the Palaszczuk Government’s $405 million Advance Queensland initiative.

“Advance Queensland is at the heart of the Government’s economic program to create the knowledge industries and jobs of the future,” he said.

“Advance Queensland and its programs will help drive innovation in our state, build on our natural advantages, and raise Queensland’s profile as an attractive investment destination and solution finder for the global healthcare challenges we all face.

“Importantly, it is also bringing jobs and business opportunities to Queensland.”

Mr Dick attended the opening of Admedus’ new office in Minneapolis on his recent trade mission to the USA.

“Linking Queensland research organisations with global companies that can develop intellectual property into innovative products and services is critical to creating value for all our communities,” he said.

“In this case the relationships we developed will strengthen the links between the products being developed by Admedus and research work being undertaken in Queensland.

“Work such as the cutting-edge immunotherapy research by Professor Ian Frazer and his team in the areas of Herpes Simplex Virus 2 and the Human Papillomavirus (HPV).

“These relationships between research and commercialisation can have excellent real-world outcomes for patients.

“Take the work of Professor Leon Neethling and his team, for example, whose ground-breaking research into xenograft tissues has given hope to patients across the globe with congenital heart defects and those in need of heart valve, vessel and cardiovascular repairs.

“The products could be life changing, like the Admedus cardiovascular bio-scaffold product CardioCel, which is being used by surgeons at medical centres throughout Europe, the US, Canada, Australia and Asia to treat complex heart defects, repair congenital heart deformities and reconstruct heart valves.

“The relocation of the Admedus global corporate functions of Finance, HR, IT, Customer Service and Logistics from Perth to Brisbane demonstrates the growing relationship between Admedus and Queensland and a high level of confidence in Queensland.

“Queensland is clearly an in-demand destination for health and biotechnology companies, with our world-class people, infrastructure, regulatory environment, and academic and research institutions.”

State Development Minister Dr Anthony Lynham said the Government had a clear vision to further expand the multi-billion dollar biomedical and life sciences sector in Queensland.

“As part of our Advance Queensland initiative the Palaszczuk Government released a discussion paper to inform our 10-year road map to see the biomedical and life sciences sector in Queensland become world-leading,” he said.

“The sector in Queensland has a total expenditure of around $2.85 billion and exported approximately $275 million of products and services in 2014-15.

“Queensland is already home to a handful of large multinational biomedical manufacturing businesses and the relocation of Admedus to Milton is certainly a welcome addition.

“We want to generate the high-tech jobs and business opportunities of the future and a key part of that is growing our community of start-up companies to a national and global level, and attracting further investment in the biomedical sector.”

The Australia-based ASX-listed Admedus Ltd has a global profile in tissue engineering, immunotherapies and bio-manufacturing.

Admedus CEO Wayne Paterson said 2016 had been a watershed year and the company had accomplished an enormous amount in a very short timeframe.

“We are strengthening every aspect of our organisation and our commercial results. We are also consolidating our global hubs in Brisbane, Queensland and Minneapolis in the United States,” he said.

“The leadership and momentum we have now will see our expansion as an innovative medical technology company accelerate in the global market.”

Media contact:             Anika Hume 0439 253 815