State of Victoria offers collaboration in Life science

By Staff
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Google Oneindia News

Bangalore, June 7 (UNI) State of Victoria, which has houses more than 30 per cent of Medical and Pharmaceutical companies in Australia, offers tremendous opportunity for India for collaboration in Research and Development in Life Sciences and medicines, Prof David de Krester, Governor Victoria State said here last night.

Talking to newsmen, Prof Krester, who was here to participate at the Bangalore Bio-2007, said that the Victorian government was committed to achieving its vision of becoming one of the world's top five technology locations by 2010.

He said that since 1999 the Government of Victoria has invested over Australian Dollar 1.8 billion in Life Science, technology and innovation which has resulted in sustained growth in the sector.

In 2007 over 40 per cent of national medical research grants were awarded to Victorian researchers, which was home to 141 biotech companies out of 347 companies in the country.

Victoria houses over 15 major medical research institutes, 7 teaching hospitals and 9 universities and in 2005-06 Victorian life science companies generated sales of Australian Dollar 5.7 billion.

World leaders in biotech including Amagen, Celgene, Genentech and Melbourne's own CSL are some of the biotech companies already tapping into large pool of human skills, research excellence and business opportunities.

Complimenting India for its economic success with an overall growth rate of over 9 per cent, Prof Krester said that his state would look forward for collaborative opportunities which exists in stem cell research, food and nutritional security, environmental technologies, healthcare, agriculture and bioformatics sectors.

India has made significant strides in the area of Information Technology, Biotech and Research and Development and Victoria state looks forward for collaboration, joint venture and working together to strengthen bilateral productive and innovative capacities in the field of life sciences, medicines and other related areas.

Prof Krester also informed that due to focused investment into science, technology and innovation significant growth was witnessed in state's biotech sector which has gone from strength to strength.

The Biotechnology strategic development plan of Victoria state was aimed to generate a sustainable industry able to develop products to the pre-market stage and beyond, he added.

Dr Amanda Caples, Director Biotechnology, Department of Innovation, Industry and Regional Development, Victoria, who also present has informed that an Indo-Australian joint study group has formed to conduct innovative research work into stem cell technology. A separate joint fund of A$ 40 million also been formed for the purpose and as a first step an workshop on stem cell research and its capabilities would be held in Melbourne shortly.

Mr Wayne Lewis, Commissioner to India, state government of Victoria and other representatives of the delegates were also present on the occasion.

UNI

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