Coolum-based company Australian Biotherapeutics has kicked off the local manufacturing of biotherapeutic and pharmaceutic products for global export thanks to support from the Palaszczuk Government.
Treasurer and Minister for Investment Cameron Dick said the company’s facility at Suncoast Business Park was built with support from the Queensland Government’s $150 million Advance Queensland Industry Attraction Fund.
“Development of this state-of-art Sunshine Coast facility will create up to 25 high-skilled jobs over the next five years and deliver almost $10.4 million in capital expenditure locally,” Mr Dick said.
“Research scientists and engineers will work alongside quality assurance and business development experts to manufacture locally-made biotherapeutics products in one of the world’s fastest-growing industries.
“More than $1 million of medical grade biotherapeutic products will be manufactured during 2021 for export to the United States.
“This project will help to further grow Queensland’s reputation as a national leader in biotechnology with a clear vision to attract greater private investment, creating more local jobs as we deliver our economic recovery plan.
“With manufacturing output estimated to increase to over $5 million by 2023, this Sunshine Coast company is in a prime position to take a share of the $50 billion a year international biotherapeutics market.”
Mr Dick said the company’s Queensland-based joint venture partner, Servatus, has globally recognised research, development and production expertise that’s being used by Australian Biotherapeutics to supply quality, cutting-edge products to established global markets and customers, mostly in the USA and Asia.
Servatus CEO Dr Wayne Finlayson applauded the Queensland Government’s innovative spirit in supporting this project through its Advance Queensland Industry Attraction Fund.
“Without support from the Queensland Government we would have had to establish this facility in the US, so this is a great win for the Sunshine Coast and Queensland,” Dr Finlayson said.
“This joint venture is pioneering biomanufacturing in the region and offers high-value job opportunities in professional and business management areas as well as research and development positions in the future.
“Additionally, we can offer internship opportunities for higher degree university students, providing valuable work experience in a commercial environment.
“Australian Biotherapeutics is also actively building research partnerships with the University of the Sunshine Coast and other leading local research institutions to create further high-value jobs in regional Queensland.”
Mr Dick said the Palaszczuk Government continues to demonstrate its commitment to the sector through the Queensland Biomedical 10-Year Roadmap and Action Plan.
“Supporting the Queensland manufacturing industry and Queensland manufacturing jobs is part of the Palaszczuk Government’s plan for economic recovery from the global coronavirus pandemic.”