Two new businesses for biotech hub

Sydney's Australian Technology Park biotech hub has grown to nine companies with two new businesses recently joining the BioFirst precinct.

Bioinformatics and genomics company Nucleics and medical device business Neuromonics have become part of the precinct as they strive towards commercialisation.

Nucleics, formerly based at the University of NSW, has developed proprietary reagents for use in DNA sequencing and high throughput functional genomics and is already selling products to laboratories in the United States and United Kingdom.

Neuromonics has developed a patented system to treat tinnitus, with the company recently gaining product approval from the US Food and Drug Administration.

ATP Innovations director of biobusiness, Paul Field, said the hub was pleased to have attracted the likes of these companies.

"They are exciting companies that are targeting global market opportunities in their respective industries," Field said. "We are looking forward to working with Nucleics and Neuromonics to achieve their business objectives and are confident they will each become a fine example of biotechnology commercialisation in NSW."

BioFirst Biotechnology Precinct is a NSW Government scheme to promote clustering and to create a biotechnology hub. The Government has committed $2.5 million to the project over five years, an amount that is being matched by ATPi.

Field said the hub offered businesses 'wet' and 'dry' lab facilities for their operations, which ranged from turnkey laboratories to tailor-made research spaces.

He said businesses could enter the precinct simply on a rental space basis or, by entering into equity agreements with ATPi, could have access to a range of development and commercialisation services to maximise their investment readiness.

These included the development of business plans, validation of market opportunities, networking, and bringing businesses into contact with venture capital parties and pharmaceutical companies.

ATPi chief executive Dr Mark Bradley said: "The biotech precinct is really starting to take shape and the programs and facilities we are developing under the BioFirst contract are beginning to pay dividends. "We warmly welcome Nucleics and Neuromonics into the community."