BioWorld International Correspondent

The state of Victoria, Australia, launched its third three-year development plan and reviewed progress to date in its ambition to be in the global top five biotech sectors by 2010.

The goal of the latest plan is that by 2010 the sector becomes self-sustaining and has strong support from the general public. The government pledged to work with industry to create a competitive environment providing improved access to capital and a favorable regulatory regime, develop integrated medical, agbio and environmental capabilities with accompanying infrastructure, and systematically apply biotechnology to deal with issues raised by climate change.

The government of Victoria took the lead in moves to allow therapeutic cloning in the country and under the new plan has committed to reduce the regulatory burden on the sector by 25 percent.

One of the first steps will be to review the four-year moratorium on planting genetically modified canola, which expires in February. The recently elevated Premier John Brumby, has implied previously he is in favor of lifting the ban. (See BioWorld International, Aug. 23, 2006.)

In clinical trials, the Victorian government successfully piloted a faster, more efficient process, and that will be implemented across the state, making it a more attractive location for clinical trials.

A framework for biodiscovery will be put in place to give investors confidence to invest while ensuring the state's native, and in many cases unique, biological resources are used in a sensitive way that does not threaten biodiversity or the environment.

To improve access to capital, the government will join forces with the industry to increase international understanding of the Australian Stock Exchange and opportunities to invest in biotech. The rules governing Early Stage Venture Capital Limited Partnerships will be relaxed to attract more money.

The accompanying review of the 2004 development plan showed the sector is building capacity, strength and critical mass, Brumby said. "We are moving steadily closer to realizing our vision."

Victoria's sector is now valued at more than A$21 billion (US$19 billion), and Australia's largest biotech, Melbourne-based CSL Ltd., is in the global top 10 by revenue. The 2004-2007 plan achieved its targets in terms of capital raised, corporate R&D expenditure, partnerships, international reputation and infrastructure, and made progress on the number of patents filed.

The rest of the world is not standing still, however. The review is coy in not revealing where Victoria believes it is placed in global league tables, saying work is ongoing to come up with metrics for making such international comparisons.