Leading U.S. Firms Invest In Clinical Trials In Victoria

05 October 2016

Several leading U.S. drug discovery firms are making major investments for world-first clinical trials in Victoria to tackle malaria, arthritis, asthma, neuro degenerative disorders and heart conditions.

Andrews Labor Government representatives in the U.S. played a key role in securing the trials for Victoria, successfully using our reputation as a global leader in biotechnology, medical and pharmaceutical research and development.

San Francisco firm Kezar Life Sciences – recently named one of San Francisco Bay Area’s top 10 biotech startups – will conduct world-first clinical trials in Melbourne for a drug that could help treat autoimmune and inflammatory disorders such as rheumatoid arthritis and lupus.

Fellow San Francisco firm Annexon Bioscience has also established its Australian subsidiary in Melbourne to further its work in neuro degenerative research.

Merrimack Pharmaceuticals, a Massachusetts-based oncology drug development company, is conducting multiple clinical studies in lung and pancreatic cancer with two of its late-stage therapeutics.

Synermore Biologics, with its Maryland-based founder, has been conducting a ‘first in human’ trial on a drug to tackle asthma and allergic rhinitis – with additional clinical trials for other biological products in planning stages.

San Francisco-based InCarda Therapeutics Inc has also established a subsidiary in Melbourne, continuing their work in pioneering a novel approach to treating cardiovascular diseases via the inhalation route.

These investments are a huge vote of confidence for Victoria’s medical technologies and pharmaceuticals sector, which is a major focus for the Labor Government’s Back to Work plan to boost local jobs.

With more than 150 biotech companies, 10 major medical research institutes, 10 teaching hospitals and nine universities across Victoria, the sector currently employs more than 20,000 people and generates more than $10 billion for the state.

Victoria is also set for another big showcase later this month as Melbourne hosts AusBiotech’s International Biofest Conference from 24 – 27 October, Australia’s largest-ever gathering of the biotech industry set to bring the industry’s leading global companies to our doorstep.

Quote attributable to Minister for Small Business, Innovation and Trade Philip Dalidakis

“Victoria is leading the country in clinical trials and with our reputation as a global leader in medical technology and research, it’s no surprise some of the world’s firms want to work with us here.”

Quote attributable to Minister for Health Jill Hennessy

“This investment is a testament to Victoria’s reputation as a world leader in developing cutting-edge treatments and technology that change the lives of patients for the better.”

Reviewed 19 August 2020

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