Capturing Value from Innovation Vital for NZ

Capturing Value from Innovation Vital for NZ

New Zealand’s innovative companies and research community must protect their breakthroughs, for the country to continue to grow its science based economy, a group of visiting IP and investment experts say.

Joseph Damond, Senior Vice President (International), Biotechnology Industry Association (BIO), Washington, Richard Kjeldgaard Deputy Vice President (Intellectual Property), Pharmaceutical Research and Manufacturers of America (PhRMA), Washington, and Joshua Funder, Partner, GBS Venues, Australia, have been talking to local high tech firms developing pharmaceutical and biotechnology products, discussing best practice policies for IP protection.

“Opportunities for cross border collaboration in medical research have never been stronger,” Mr Damond says.

“For smaller companies, start-ups and research institutes to attract funding and capture value from their innovative products and ideas, adequate intellectual property protection is vital,” Mr Damond adds.

“The current Trans Pacific Partnership negotiations are an opportunity to enhance and align IP protection across the Asia-Pacific countries involved,” Medicines New Zealand General Manager Kevin Sheehy says.

“These standards provide the certainty companies need to warrant investing in early stage New Zealand-based innovations. Unifying those standards across the Asia Pacific region will provide the level playing field needed to bring the benefits of new products to patients,” Mr Sheehy adds.

“New Zealand has a wealth of creative and innovative expertise and these great ideas need to be protected for the benefit of the country’s economy,” NZBIO CEO Suzanne Bertrand says.

Joshua Funder’s participation in the delegation is supported by AMCHAM.

ENDS

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