Advertisement

Japanese biotech company to undertake clinical trials in SA

A Japanese biotech company will invest $14m into the South Australian biomedical precinct to conduct clinical trials focused on the development of treatments for rare neurological diseases.

Oct 13, 2022, updated Oct 13, 2022
Photo: Tony Lewis/InDaily

Photo: Tony Lewis/InDaily

The private pharmacological company GEXVal announced the investment during a trip to Japan by Premier Peter Malinauskas and Trade and Investment Minister Nick Champion this week.

GEXVal’s focus is on the development of treatments for rare diseases which are not currently met by existing products.

A spokesperson for the state government said the company selected South Australia to conduct its research for its first round of clinical trials due to its “combination of expertise, quality, speed and value to deliver to the highest international regulatory requirements”.

“South Australia has the most established and experienced providers in the clinical trial field in Australia, including well-aligned good manufacturing practices.”

Champion is in Japan attending BioJapan, Asia’s premier event for the global biotechnology industry, and said the announcement with GEXVal will open doors for future Japanese investments.

“We have the world’s fastest regulatory framework for early-phase clinical trials for submission to global regulatory agencies, a world-class health and life sciences ecosystem and we are extremely cost-effective,” he said.

CEO of GEXVal Dr. Juran Kato said the company had already received extensive support from South Australian counterparts.

“We have received extensive support, even before the launch of the program,” Dr. Kato said.

“We are very happy and excited with our solid and united partnership with people in the South Australian health ecosystem to strive for the same goal to deliver innovative medicines to patients and families who live with rare diseases.”

In 2019, 1877 clinical trials were conducted in Australia which resulted in approximately 95,000 participants, 8000 jobs and $1.4 billion in revenue.

South Australia holds a 15 per cent market share of clinical trials in Australia.

The clinical trials sector in Australia has grown steadily between 2015 and 2019 at a compound annual growth rate of 6.6 per cent.

 

 

 

Local News Matters
Advertisement
Copyright © 2024 InDaily.
All rights reserved.