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Aussie Biotechs Look To Federal Budget For Research Support

This article was originally published in PharmAsia News

Executive Summary

Australian biotechs are looking for help in the federal budget for supporting life sciences in the wake of a 24 percent decline in research spending among startups in the first quarter. The decline is the biggest in the three years since the industry began analyzing research spending. Spending amounted to just under $30 million in the first quarter, compared with $39 million in the previous quarter. Australia's Commercial Ready grants program was cut in last year's budget, so the life sciences sector is awaiting the new budget and details for replacement programs. (Click here for more

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