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Australian biotechnology introduced in Korea

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By Rachel Lee

Australian biotechnology experts were in Korea showcasing Australia's strong biotech industry at COEX in Seoul on March 30-31.

At the "Australia-Korea Regenerative Medicine Roundtable" and the "Australian Clinical Trial Seminar," hosted by the Australian Trade Commission (Austrade), representatives from nine Australian companies — including Asia Pacific Simulation Alliance, Clinical Stem Cells, Cynata Therapeutics and George Clinical — participated and introduced their regenerative medicine and clinical trials.

The events are part of a collaboration project between the Korea Health Industry Development Institute and AusBiotech.

"Korea is one of AusBiotech's priority countries in the Asian region," said AusBiotech COO Glenn Cross. "I would like to see increased collaboration between Korean and Australian companies, especially in the regenerative medicine area through this visit."

Cross said: "Australia welcomes more investment from Korean venture capital into Australia and active research and development and marketing activities by Korean companies."

The Australia Korea Regenerative Medicine Roundtable on March 30 provided an opportunity for Korean and Australian regenerative medicine organizations to discuss collaboration and partnership opportunities.

The meeting also looked at the initiatives of both governments in the regenerative medicine sector, as well as opportunities in cell therapy, especially adult stem cell and embryonic stem cell therapy.

The Australian Clinical Trial Seminar on March 31 showcased Australia's capabilities and strengths in the clinical trial industry.

"Australia boasts world-class medical research and healthcare infrastructure, a stable socio-economic environment, an ethnically diverse population and a strong intellectual property regime," an Austrade spokesperson said. "An efficient regulatory system, including a rapid clinical trials approval system and globally competitive tax incentives for research and development investment, all help make Australia one of the leading destinations for clinical trials.

"This will complement the work undertaken to expand the bilateral biotech relationship under the Korea-Australia Free Trade Agreement," the spokesperson said.

The trade deal entered into force on Dec. 12, 2014.


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