Specialised Therapeutics unveils new Australian headquarters
Privately held pharmaceutical company Specialised Therapeutics Australia (STA) celebrated its 10th anniversary today with the unveiling of its new Australian headquarters and a business plan to drive healthcare innovation over the next decade.
The company, which was founded 10 years ago by CEO Carlo Montagner and Human Resources Director Bozena Zembrzuski with a single chemotherapy product, has emerged as the largest privately owned Australian specialty pharma company in the region, employing close to 50 employees, generating revenues of ~$30 million and with an expansive specialty drug portfolio spanning oncology, haematology, ophthalmology, supportive care and neurology.
At the opening of its new Australian headquarters in Melbourne today, Montagner attributed the company’s success to a strategy of in-licensing mid- to late-stage products for full commercialisation, but said the next 10-year plan included in-licensing earlier-stage drugs, steering them through full clinical development and globally commercialising these products.
“This may require us to list a subsidiary company either on the ASX or on Singapore’s SGX to co-fund compound development,” he said.
“Our vision for the first 10 years was to build a profitable pharmaceutical company partnering with leading global biotech and pharmaceutical companies. While we continue to invest aggressively to further expand our global partnerships and product pipeline into new therapeutic areas, it is now time to build on these solid foundations and execute the next stage of our company’s development.”
The new headquarters were officially opened by Federal Treasurer, Deputy Liberal Party Leader and Member for Kooyong Josh Frydenberg, who noted STA’s role in cementing Victoria as a major pharmaceutical and biotech hub.
“This company is an Australian start-up success story,” he said. “We know that as many as 90% of start-ups fail to flourish after five years. STA is a stand-out in the pharmaceutical sector and continues to grow, providing employment and generating strong revenues.”
Montagner added: “Bozena and I are extremely proud of what we have achieved in the past decade, which has laid the foundations for our ultimate vision: to build a global pharmaceutical company delivering specialist medicines to patients where there is an unmet clinical need.”
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