ITALY’S ENGINE ROOM TO BOOST QLD BIOTECH POWER

ITALY – MILAN: Queensland and the Italian region of Lombardy have signed a Protocol of Cooperation to strengthen business and scientific ties.

Premier and Minister for Trade Peter Beattie signed the agreement with Lombardy Region President Roberto Formigoni.

"Lombardy is the engine room of Italy, handling 40% of imports, 30% of exports and generating 20% of the national GDP," Mr Beattie said.

"Lombardy is also home to 63% of the country’s bio companies, with enormous potential to develop links with Queensland and our experts, especially our scientists and researchers – it’s a natural fit," he said.

The Lombardy agreement also identifies potential in the areas of creative and cultural industries, health and medical sciences, emerging technologies, vocational training, as well as the sports sector.

"The biotechnology industry is one of the Italian economy's most dynamic sectors, with its constantly rising annual turnover now amounting to some €300 million," Mr Beattie said.

"Lombardy is recognised as a leading biotechnology region in Europe, and Milan hosts one of Italy’s three biotechnology districts."

Mr Beattie said Queensland’s research institutions are keen to develop relationships with their international counterparts, such as Griffith University’s Eskitis Institute for Cell and Molecular Therapies which is jointly conducting research with Milan’s Parkinson’s Centre.

"As Australia and Italy are both faced with ageing populations, these institutes are doing important work mapping the genetic and environmental factors that contribute to Parkinson’s disease," he said.

"Parkinson’s affects 2% of people over age 65 – a demographic expected to triple in Australia and Italy in the next 50 years."

Mr Beattie said under the Lombardy agreement there would be new opportunities for scientific exchanges and for Italian biotech companies to conduct clinical trials through the Queensland Clinical Trials Network.

"There’s already some important work going on, for example, in breast and ovarian cancer research and it involves both the Queensland Institute of Medical Research and the San Raffaele Biomedical Research Park in Milan," he said. "Such collaborations are the way of the future."

While in Milan during the 12-day trade mission, Mr Beattie met with Mr Alessandro Sidoli, Vice President of Assobiotec – the Italian Biotechnology Association which represents over 60 organisations.

"There is enormous potential to increase the links between Assobiotec and Queensland’s biotech industries, with the Smart State currently home to 88 biotechnology firms employing around 1900 people and generating about AUS $150 million a year.

"We’re not sitting on our hands. The Queensland Government is building a strong and vibrant biotechnology industry and we are developing opportunities to link in with the best around the world.

"Biotechnology in the Smart State is projected to grow to 16,000 employees by 2025, with revenue rising to about AUS $4 billion per annum.

"Through the Lombardy agreement, we’re on our way."

Media Contact: Premier’s Office 07 3224 4500