Melbourne has given the world four Nobel Prize winners in medicine and physiology. Today the city’s reputation continues as a global centre for excellence in life sciences education, research and innovation.
Melbourne's expertise in stem cell, infectious diseases, cancer, neuroscience and agricultural biotechnology is internationally recognised, as is its growing pharmaceutical manufacturing base, with exports of more A$1 billion.
Our world-class universities, teaching hospitals and renowned research institutes enable global collaboration and ensure a steady supply of highly skilled professionals.
Victoria’s cutting-edge research institutes include Florey Neuroscience Institutes, one of the world’s top 10 neuroscience institutes; and the Murdoch Children’s Research Institute, one of the four largest paediatric research institutes in the world.
The Victorian Government has also invested $1 billion in a purpose-built Parkville Comprehensive Cancer Centre (due for completion by 2015) to drive the next generation of progress in the prevention, detection and treatment of cancer. The Centre will bring together many of the nation's best cancer researchers and educators and provide the highest standard of care and treatment for cancer patients.
The sector enjoys strong government support, with the Victorian Government investing almost A$4 billion in science and innovation over the past 10 years.
Resilient life sciences sector
Melbourne is home to around 30% of Australian medical and pharmaceutical companies.
Victoria has 44 life science companies listed on the Australian Stock Exchange (ASX), with a combined market capitalisation of nearly A$24 billion.
These companies currently have 85 life science products on the market, with 39 Phase II and 15 Phase III clinical trial programs underway.
Australia’s two largest listed pharmaceutical companies, CSL and Sigma Pharmaceuticals, also call Melbourne home.
Australian-listed biotech firms fared well during the Global Financial Crisis, with PWC’s Bioforums Index down only 0.7%, compared to the All Ordinaries drop of 26% in 2008-09.
Research & Development Credentials
Melbourne’s strong biotechnology sector attracts eminent researchers from around the world.
Annual spending on biotechnology-related research and development in Victoria exceeds A$1 billion, including more than A$650 million of private R&D.
Victoria is known for its excellence in medical research and has a recognised collaborative model across basic and clinical research.
Research capability is underpinned by a network of nine universities, seven major teaching hospitals, and 13 independent medical research institutes. Melbourne is one of the few cities in the world with two universities in the top 25 global biomedical rankings.
Australia has more graduates at PhD levels in biotechnology-related disciplines per head of population than the USA, Canada and Japan.
Our biomedical researchers have consistently secured more than 40% of Australia’s National Health and Medical Research (NHMRC) funding over the last 10 years.
Regulatory Environment
Victoria has a fast, favourable regulatory environment, within a robust national framework.
Under the Clinical Trial Notification (CTN) Scheme, 99% of trials are able to go ahead within a week of being registered.
Trials taking place in more than location go through a single, streamlined approval process.
Australian practice and standards frameworks are recognised by the US Food and Drug Administration (FDA) and the European Medicines Administration (EMEA).
This ensures products successfully trialled in Australia have immediate transferability to European Union and United States markets.
In 2007, Victoria became the first Australian state to pass legislation allowing somatic cell nuclear transfer (SCNT or ‘therapeutic cloning’) for medical research, creating a world’s best-practice regulatory and ethical framework for advances in the field.
In recent years the Victorian Government has lifted a moratorium on genetically modified crops. Researchers at AgriBio – the Centre for AgriBioscience are engaged in cutting-edge research to improve productivity, fight disease and reduce environmental impact.