Queensland biotechs take their pitch to investors at BIO 2018

Queensland biotechnology companies have been given the chance to pitch to international venture capitalists at a special Life Sciences Queensland event, part of the 2018 BIO International Convention in Boston.

Premier Annastacia Palaszczuk said the Discover Queensland innovation – a biotechnology showcase event provided an excellent opportunity for Queensland biotech startups to attract key investment in promising biomedical discoveries.

“In Queensland, we definitely punch above our weight globally when it comes to the quality of scientific research we produce in our state,” the Premier said.

“Queensland researchers are world leaders in viral, bacterial and parasitic infection, vaccine research and drug discovery, with tropical diseases being a particular strength. 

“My Government understands venture capital financing offers the best hope for emerging biotech SMEs to get their product up to the stage they can go to market.

“While venture capital fundraising is on the rise in Australia - worth A$1 billion in the 2016/17 financial year - there is seven times more capital availabale here in the US.

“That is why we held this showcase event during BIO, recognising the appetite in the US to invest in projects with long-term returns.

“We are also bridging the funding gap through the Advance Queensland initiative, which has a number of programs linking research and business to build an entrepreneurial culture and leverage private investment.”

Life Sciences Queensland CEO Mario Pennisi said the BIO pilgrimage was a key opportunity to get in front of international counterparts and investors.

“The 2018 mission is an important one for Queensland and this year we have both Premier Palaszczuk and Innovation Minister Kate Jones in attendance, supported by several mayors from across the state,” Mr Pennisi said.

“I know BIO 2018 will provide a catalyst for further discussions and new business opportunities to create the Queensland jobs of the future.”

Boston, the host of the 2018 BIO International Convention, is one of the world’s largest biotech hubs and home to some of the world’s largest biotech companies, including Sanofi and Pfizer.

This year marks Queensland’s 20th mission to the BIO International Convention.

Media Contact:  Geoff Breusch 0417 272 875