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Biotech News AusBioNSW 2005 - Sydney - 1-2 September 2005 In brief: Patent attorneys Dr Kathryn Sunn and Dr Rob Silberstein report on the recent NSW AusBiotech Conference held on 1-2 September 2005 at the Powerhouse Museum, Sydney. |
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The theme of the conference was "The Track Ahead: A sustainable future for NSW Biotechnology". The program included a collection of speakers from across the biotech industry ranging from CEO's of start-up companies through to patent attorneys and lawyers and on to Managing Directors from established biotech companies. The conference was well structured providing informative sessions and ample time to mingle with speakers and other delegates. The conference was attended by just under 150 delegates from various sections of the bioindustry.
Program
The conference was launched on Thursday evening with a hypothetical on "NSW Biotechnology in 2020" followed by a cocktail function. The hypothetical was moderated skilfully by Rob Muir who transported the panel and audience to a new era of Australian science and enterprise in 2020. The era may have been hypothetical but the scenarios and predictions of the panellists were interesting and at times entertaining. Dr Anna Lavelle, the new CEO of AusBiotech Limited, officially opened the Conference.
On Friday morning, the conference opened with a plenary session comprising a keynote address from David Finegold, a Professor at Keck Graduate Institute of Applied Life Sciences, USA. Professor Finegold's highly informative presentation, entitled "Building Ethics into Strategic Decision-Making of BioScience Companies" not only kept the attention of all of the delegates but sparked considerable discussion. Picking up on the theme of a "sustainable future for NSW biotechnology", Professor Finegold's main contention was that bioindustry ethics were vital for the survival of a this emerging industry.
According to Professor Finegold, data from the US shows that big pharma and big bio are not performing well with respect to the public view about corporate ethical responsibilities. Indeed, with phase IV drug recalls, stem cell research and genetically modified crops, Professor Finegold's view is that bioindustry ethics couldn't be more topical. Significantly, he pointed out that compliance with laws and regulations by itself does not ensure market acceptance, that an ethical culture attracts and retains top talent, and that a strong corporate ethical responsibility enhances a company's public profile and its cooperate image.
Professor Finegold concluded his session with the following 10-point plan to building on ethical decision making processes:
- Focus on the needs of your end-user.
- Start early.
- Lead by example.
- Figure out how to get expertise.
- Integrate ethics with business strategy.
- Communicate, internally and externally.
- Build structural protections for ethical behaviour.
- Treat ethics as a process, not a plaque to be hung on the wall.
- Extend ethics to your business partners.
- Measure your ethical effectiveness.
"A New Look at Intellectual Property" was one concurrent session featuring patent attorneys, UniQuest Pty Ltd and Novogen Ltd. This session centred on the significance of intellectual property (IP), and in particular stressed the importance of a well managed patent portfolio for commercial success and to successfully drive investment. Chris Naughton, Managing Director of Novogen Ltd, set the scene suggesting that 'no intellectual property equals no business'. The growth of a company's IP portfolio and its IP protection is a reflection on the development stage of the company, the maturity of the assets of the company, and subsequently the company's future. A particular point touched upon was the value of "hidden IP" with reference to the example of anti-cancer drug Phenoxadiol. While initially Novogen was not actively pursuing the commercialisation of IP that it had on Phenoxadiol, ultimate liberation of that IP increased the company value by $500M.
The concurrent session "Sources of Capital", provided a series of case study reviews of capital raising and management. Dr Alan Robertson, CEO of Pharmaxis Ltd, Nigel Poole, Executive Director Business Development & Commercialisation at CSIRO and Dr Merilyn Sleigh, CEO & Managing Director of Evogenix, each provided a detailed analysis of their views on positioning a biotech company to access capital at appropriate times in a company's lifecycle. The timing chosen to apply for capital investment was critical in each presenter's view. Howard Leibman from Heartware and Dr Hubert Mazure from Cellabs joined a panel to conclude the session.
"Building Capacity in the Biotechnology Industry" and "Growing Successful Companies" were the two concurrent sessions following lunch. The first of these centred around the question of how can NSW ensure the industry's sustainable future. An Executive Director and a CEO from two separate companies along with a patent attorney spoke of various topics surrounding this issue. Significantly, the presentations' titles canvassed key drivers for Australian Biotechnology, the question of whether or not pharmaceutical biotechnology was commercially or research driven and the need to build a strategically aligned patent portfolio.
The "Growing Successful Companies" session provided a series of case studies from leading local success stories. Dr John Woodard, Chief Scientific Officer from Ventracor Limited, provided a brief synopsis of the success of the company from creating a left ventricular assist device, to going public in 1993, to having implanted 30 to 40 devices to date. Dr David Andrews, General Manager of MRC Biotech Pty Ltd, spoke for the most part about the key issues in commercialising University IP, focussing particularly on the need for support for inventors, support for commercial offices, and the industry's role. From the point of view of the later, Dr Andrews stressed the need for the industry to provide funding that creates incentives for researches and the universities, and to take a longer term view of commercial success. "Be Quick and Generous" was the key motto. Cornell Huysse, Managing Director of Packaged Environmental Solutions Pty Ltd, a small company using heat sterilisation for biological disinfection as their business model, provided a detailed analysis of the path of his company from conception of an idea through to successful commercialisation.
Concluding remarks
The general consensus from the conference was that the track ahead for the biotechnology industry in NSW, although quite bumpy and unpredictable at the present point in time, looks quite bright for the future. Not unexpectedly, adequate sources of early stage funding continues to be a concern for the industry. By careful consideration of IP protection strategies as a commercial tool, companies can use important IP, generate income by out-licensing unwanted IP, and establish partnerships on the basis of strong IP without ownership concerns.
For further information please contact Dr Trevor Davies on +61 2 9230 4007.
