This week we’re revisiting some of our most popular stories from last year. This story first appeared in June 2018.
Some of Queensland’s best biotech companies have pitched to international venture capitalists at a special showcase event held as part of the 2018 BIO International Convention in Boston.
Potential investors attending the Discover Queensland Innovation breakfast heard pitches from a range of Queensland biotech firms, including DoseMe (precision-dosing software), QEDDI (drug discovery), and QIMR Berghofer Medical Research Institute (cancer inhibitor therapy).
Premier Annastacia Palaszczuk said overseas investment could help deliver the benefits of Queensland research to patients around the world.
‘In Queensland, we definitely punch above our weight globally when it comes to the quality of scientific research we produce in our state,’ the Premier said.
‘My government understands venture capital financing offers the best hope for emerging biotech SMEs to get their product up to the stage they can go to market.
‘While venture capital fundraising is on the rise in Australia – worth A$1 billion in the 2016–17 financial year – there is seven times more capital available here in the US.
‘That is why we held this showcase event during BIO, recognising the appetite in the US to invest in projects with long-term returns.’
Other groups pitching at the showcase included Microba, which is using cutting-edge technology to analyse gut health, and the University of Queensland’s School of Chemistry and Molecular Biosciences, which is working on a more effective flu vaccine.
Boston, the host of the 2018 BIO International Convention, is one of the world’s largest biotech hubs, and home to some of the world’s largest biotech companies, including Sanofi and Pfizer.
This year marks Queensland’s 20th mission to the convention, which is running from 4–7 June.
The Queensland biotech showcase was held on the first day of the convention, and was organised by Life Sciences Queensland in conjunction with TIQ.
TIQ is accompanying a mission of more than 20 Queensland biotech companies that will exhibit at BIO 2018.
Biotechnology is one of the emerging export sectors identified in the Queensland Trade and Investment Strategy 2017–2022.
Ten companies presented at the Queensland showcase:
- Implicit Bioscience
- QEDDI – Queensland Emory Drug Discovery Initiative
- Queensland Brain Institute – The University of Queensland
- The University of Queensland’s Institute for Molecular Bioscience
- The University of Queensland’s School of Chemistry and Molecular Biosciences
- VAST Bioscience
- QIMR Berghofer Medical Research Institute.