ABA Legal Group is seeing significant growth in it’s Bioscience Unit as it plans to capitalise on renewed government and investor focus on Australia’s local life science and biotechnology industries.
Driven by the impact of COVID19 this change in national policy settings is best exemplified by the launch of the AUD $20 billion Medical Research Future Fund to support Australian health and medical research.
Initiatives like this coupled with the country’s Research and Development Tax Incentive program, are creating a favourable environment for global biotechnology firms to establish operations within Australian jurisdictions.
According to ABA Legal Group Founder and Director Andrew Antonopolous, the continued growth of ABA Bioscience Consulting is to prepare for what he sees as a decade of growth in the healthcare and medical research start-up space.
“It is my firm belief that there is an opportunity right now for Australia to capitalise on its strengths in medical research, talent, intellectual property protections, policy settings, and government investment to establish itself as a global leader in the biotechnology field,” said Mr Antonopolous.
“These factors are working in our favour when it comes to growing our Bioscience unit where we support businesses looking to establish a presence within the Australian market through our end-to-end advisory offering. This sector has the potential to completely transform the Australian economy and we see our Bioscience unit as a strategic partner for boutique research providers looking for a more tailored approach when looking for local partners.”
According to Andrew, the opportunity is now for Australia to kickstart its Biotechnology and health science sector as the move to disease prevention rather than treatment gathers pace.
“We are at the cusp of a revolution in healthcare as we move to prevention rather than cure as we utilise the latest technology and genetic treatments,” Andrew said.
“It is exciting to see government and venture capital support for this sector because if this industry is harnessed correctly, the size and scale of these businesses will overshadow many other sectors of the Australian economy. I look forward to working with our partners in Queensland like the Cohort Innovation Space at the Gold Coast Health and Knowledge Precinct and across the country as we seek to nurture and grow this sector.”