A new national lab that will turn drug and vaccine candidates into products to be mass produced has been hailed as the "missing link" in Australia's biomedical sector.
The CSIRO opened a $23.1 million National Vaccine and Therapeutics Laboratory in Melbourne. It will produce vaccines and drug treatments in Australia following a successful pilot during the early stages of the pandemic.
Fully funded by the federal and Victorian governments, the facility was opened on Thursday by Federal Minister for Industry and Science, Ed Husic.
He said onshore mass manufacturing will enhance domestic processes and systems.
"The new National Vaccine and Therapeutics Lab exemplifies the translational role our national science agency plays in Australia's biomedical ecosystem," he said.
"It will help vaccine and drug candidates get ready for commercial production by Australian industry for local and global markets.
"As the newest member of Australia's National Labs network, the facility will bring our research and university sector together with local start-ups and small to medium enterprises to ensure great Australian ideas make it out of the lab and reach those that need it quickly and safely."
The lab is expected to add more than $8 billion dollars to the economy over a 10 year period.
Its pilot was established in anticipation of any unexpected disease that might impact Australia, with COVID-19 then coming to the fore.
CSIRO Chief Executive Dr Larry Marshall noted the importance of having a domestic manufacturing capacity for vaccines and therapeutics, hence the full development of this facility.
"The problem facing our biomedical industry has been that most vaccine and drug candidates needed to be sent overseas to be produced in large quantities for clinical trials, adding burdensome costs that have crushed many Australian businesses and researchers as the invention languishes on the lab bench," he said.
"This new shared National Lab will help Aussie companies bridge that 'valley of death' - the gap between the lab bench and making a product that's having an impact on people's lives."
It will be available to companies around the country as another of the CSIRO's national labs.
The lab will produce drugs in partnership with local industry and progress to phase one and two clinical trials domestically, having the accreditation to then participate in global clinical trials.
