A new year and good news is rolling in already, says AusBiotech

Last year ended on a high for Australian biotechnology industry policy - with the R&D Tax Incentive up and running, the doubling of the final tranche of the Innovation Investment Fund (IIF) with an extra $100 million and improved provisions for Commercialization Australia grants - and the New Year is off to a great start with big news for Bionomics, the release of BioShares’ 2011 capital raising figures, an investor meeting in San Francisco, USA, and a renewed commitment to the industry, said the nation’s trade group AusBiotech.

Less than a week into the New Year, Bionomics has announced a collaboration, research, and licensing agreement with USA-based Ironwood Pharmaceuticals worth up to $345 million to develop and commercialize the anti-anxiety compound, BNC210 (The Pharma Letter January 6).

For the fifth year, AusBiotech says it has managed a presentation of Australian companies to San Francisco for an investor showcase held in conjunction with invitation-only the 30th JP Morgan Annual Healthcare Conference. The event was again successful, attracting 250 participants, and providing a valuable platform for Australian companies seeking investment and partnerships.