New Zealand pharma urged to capturing value from innovation

New Zealand’s innovative companies and research community must protect their breakthroughs, for the country to continue to grow its science based economy, according to a group of visiting intellectual property and investment experts.

Joseph Damond, senior vice president (International), of the US Biotechnology Industry Association (BIO), and Richard Kjeldgaard, deputy vice president (intellectual property), at Pharmaceutical Research and Manufacturers of America (PhRMA) and Joshua Funder, a partner at GBS Venues, Australia, have been talking to local high tech firms developing pharmaceutical and biotechnology products, discussing best practice policies for IP protection, domestic trade group Medicines New Zealand revealed in a web site posting yesterday.

“Opportunities for cross border collaboration in medical research have never been stronger,” Mr Damond said, adding: “For smaller companies, start-ups and research institutes to attract funding and capture value from their innovative products and ideas, adequate intellectual property protection is vital.”