SA biotech on show at Europe’s biggest industry event
The Department of State Development recently supported a group of South Australian biotech and pharma companies to attend Europe’s largest industry event - capitalising on shifting global investment in the sector.
South Australia’s world-leading clinical trial ecosystem were showcased in Vienna, Austria at the BIO Europe Convention on 3-5 November - seizing a timely opportunity to position South Australia’s industry and capabilities for the European market for drug development and clinical trials.
The upcoming Australia-European Union (EU) Free Trade Agreement, which is expected to eliminate around 98 per cent of tariffs and ease regulations, together with uncertainty in the United States market has the potential to drive increasing trade and investment opportunities between South Australia and the EU.
A group of seven South Australian companies attended BIO Europe, drawing more than 5,700 companies from over 61 countries.
Local companies also took part in a roadshow in Germany and Switzerland to further educate on the advantages of conducting clinical trials and drug development in South Australia to European investors, biotech and pharma companies.
The companies participating in BIO Europe and the roadshow included:
- Agilex Biolabs
- Avance Clinical
- Bellberry
- Bentleys SA/NT
- CMAX Clinical Research
- RDI Partners
- SOCRU
Following attendance at previous BIO events globally, supported by the Department of State Development, the delegation builds on more than $90 million worth of partnerships which have supported research, trials and developed products between South Australian and international companies over the last three years.
The sector continues to expand, with the global clinical trials market alone forecast to grow from around US$80 billion 2025 to more than US$127 billion in 2033.
South Australia is home to a world-class health and medical ecosystem, with a strong proposition for drug development and innovation, supported by a 43.5 per cent research and development tax incentive and backed by globally respected key opinion leaders, an engaged public and private health system and experienced service providers.