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NZBio News Update : 27 Oct 04 Bio Views

NZBio News Update : 27 Oct 04 Bio Views

In the last week members of the Biotechnology Taskforce and NZBio's Advisory Council attended a meeting hosted by the Foundation for Research Science and Technology (FRST).

The purpose of this meeting was for the group to act as sounding board for FRST's biotechnology-related draft portfolio strategies. The Foundation outlined their biotech portfolios, which include Niche Biological Products, New Zealand Strengths, Future Human Technologies, TechNZ, Pre-Seed, Production, Quality & Assurance (PQA), and Sustainable Productive Systems.

A discussion document describing the outcomes FRST is looking to achieve has been posted at: http://www.frst.govt.nz/research

While there was general agreement with the direction of strategic portfolios, the group re-iterated that a target of $300M investment in biotech R&D is necessary if we are to achieve sufficient critical mass in this area, and the current level of investment of $150M p.a. is inadequate.

While basic research capabilities need to be preserved, funding must also be available for development costs, which are usually much higher. The group also emphasized the need for continuity in FRST's investments, to allow commercial outcomes to be realised.

This is an important stage in the strategy development process for FRST, and it presents an opportunity for industry members to have some influence. I would urge you to read the document and provide feedback on it before the portfolios are finalised in December.

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Going forward, NZBio will play a key role in ensuring FRST has a better understanding of the biotech sector's challenges.

Brian Ward
CEO, NZBio

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http://www.nzbio.org/files/members/news-detail.asp?newsID=7561

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http://www.nzbio.org/files/members/news-detail.asp?newsID=7562

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http://www.nzbio.org/files/members/news-detail.asp?newsID=7563

Quote of the week: Curiosity is the key to creativity.
Akio Morita

The contents of the NZBio News Update represents a small selection of articles posted to the members-only area of our web site. We encourage members to log-in daily to take full advantage of this frequently updated service.

From the NZBio News Team

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