Burnet research and development agreement with China

The Chinese Government has agreed to provide grant support to Nanjing BioPoint Diagnostics, a company established in China by Melbourne’s Burnet Institute, to develop point of care diagnostics.

The $5 million agreement between Burnet Institute and GuoMinXinHe Investment Fund, Beijing, was officially signed as part of the Australian Prime Minister’s Trade Delegation to China.

The investment will support Nanjing BioPoint Diagnostics in the development of low-cost diagnostic tests, such as a point of care assay for detecting liver disease, to improve the health of people in China and around the world.

Established by Burnet in 2013 with support from a Chinese Government ‘321’ grant, Nanjing BioPoint Diagnostics is based within the Jiangsu Life Sciences & Technology Innovation Park on the outskirts of Nanjing, capital city of the Chinese eastern coastal province of Jiangsu.

Burnet Institute Director and CEO Professor Brendan Crabb said the investment in Nanjing BioPoint Diagnostics would use and adapt core technology developed by the Institute in Melbourne, underpinned by support from the Victorian and federal governments.

“The establishment of a new biotech company in this way is a very positive outcome for the Burnet Institute, and it shows the way for Australia’s internationally competitive medical research sector. Knowledge, in this case scientific knowledge, is one of Australia’s most valuable exports, but it can grow much more; this is an example of one way that can be achieved,” Professor Crabb said.

“The new enterprise will also lead to increased scientific exchange between Burnet Institute researchers and ... Chinese counterparts, leading to further enhancement and development of new technologies. We look forward to working with the team from GuoMinXinHe, a strong and emerging investment fund in China.”

AusBiotech CEO Dr Anna Lavelle said the new partnership was a win for both Australian and Chinese research, building on many years of fostering stronger relationships with China to develop and grow the Australian biotechnology industry.

Nanjing BioPoint Diagnostics is a fully integrated business undertaking the development of innovative diagnostic tools, with the capacity for manufacturing, sales and distribution of products. It is anticipated the company will commence R&D operations in its recently completed facility within the next two months