New Zealand is gaining a worldwide reputation for efficiency, commercial know-how and innovation in biotechnology based on 150 years of research applied to agriculture and human health

World-class innovators hungry for capital
BIOTECHNOLOGY

As a country with a long agricultural history New Zealand is a natural home for biotechnology argues Chris Boalch, director of Biotechnology at New Zealand Trade and Investment (NZTE): "New Zealand is renowned for its innovation in the life sciences, built upon a history of more than 150 years of research applied to agriculture and human health. Moreover, our global outlook is illustrated by the diverse range of connections between New Zealand scientists, companies and the international biotechnology industry."

The government is prioritising knowledge as the key to development. Tax credits on R&D were a priority in the Treasury’s recent Business Tax Review, and promoting New Zealand as a biotech investment destination is a key part of NZTE strategy.

New Zealand is certainly gaining a reputation for combining world-class research with an efficient and focused commercial know-how, providing a strong return in both income and ideas for foreign investors.

This is in evidence at the University of Auckland. Ranked among the world’s top 50 universities, the university possesses a commercial know-how often uncommon in academic institutions – one that a recent OECD report described as “outstanding.”

Auckland Uniservices manages the university’s intellectual property and actively matches research to business opportunities. With consistent annual revenue growth, Uniservices has become the largest university-owned research and technology company in Australasia.

A recent collaboration between the UK and the university involves a potentially powerful new weapon against cancer. The drug, which restricts the blood vessels that feed tumours, was originally developed at the University of Auckland. Now licensed to UK biopharmaceutical company Antisoma, it has succeeded in four Phase 2 human clinical trials targeting lung, ovarian and prostate cancers and has led to a $1 billion deal with Novartis.

There are plenty of opportunities for investment and commercial partnership throughout New Zealand and the universities will certainly play a prominent role. As Mr McCutcheon (INTERVIEW) suggests, “We’re interested in the use of fundamental research to create opportunities for New Zealand. This is the most significant long-term economic contribution that the university can make.”