Qld biotech company celebrates 20 year milestone

A Queensland company that is receiving international industry attention for its work in detecting blood clots and diagnostic imaging of DVT (deep vein thrombosis) has achieved an industry milestone.

Mr Paul Lucas, Minister for Innovation and Information Economy, has congratulated AGEN Biomedical on its 20th anniversary as Queensland's first biomedical company to develop university research into commercial medical products.

"AGEN Biomedical is an example of an innovative Queensland business that has developed and commercialised biotechnology in our own backyard," Mr Lucas said.

"Importantly, they have remained viable and through major changes in the industry, making major contributions to Queensland in terms of employment and generation of export income."

Mr Lucas said AGEN is the pioneer of an important industry as Queensland's first university research "spin off" company (there are now 18).

"Biotechnology is emerging as one of the key technologies driving the knowledge-based economies of the future and is at the top of the Queensland Government's Smart State agenda," he said.

"Biotechnology is creating jobs, revenue and research opportunities in Queensland, and we have underpinned this vision with a $270 million dollar, 10 year Bioindustries Strategy, aimed at making Queensland the Asia-Pacific hub of biotechnology.