Porirua, New Zealand
March 3, 2005
Wrightson announces
that it will be the New Zealand partner in a trans Tasman R&D
project that aims to develop and commercialise improved
varieties of ryegrass and tall fescue for agriculture in
temperate regions.
The project is based on funding from Wrightson and the
Australian and New Zealand governments. The New Zealand
Government’s participation is through a grant announced today by
the Hon Pete Hodgson.
The Chief Executive Officer of Wrightson, Barry Brook, said
the government funding provided welcome recognition of the
potential value of the work to be undertaken, and the scientific
and commercial strengths of Wrightson and its Australian
partner. "The project has the potential to create a significant
increase in feed quality and animal production from pasture,
reaping substantial economic benefits for pastoral farmers," Mr
Brook said.
The project will seek to develop and commercialise ryegrass
and tall fescue germplasm with significantly enhanced quality
traits. The New Zealand Government funding ($3 million over
three years) is provided through the Australia New Zealand
Biotechnology Partnership Fund (ANZBPF). The fund was
established by Mr Hodgson, as Minister of Science, in 2004 to
facilitate trans-Tasman biotechnology collaboration.
The Australian partner is a research organisation in part
funded by the Australian Government, the Molecular Plant
Breeding Cooperative Research Centre (MPBCRC), based in
Melbourne.
The Wrightson/MPBCRC collaboration is the largest of four key
trans-Tasman biotechnology projects to receive ANZBPF grants
announced today.
Source: New Zealand
Government - Hon. Pete Hodgson
$6.5 million
biotech boost
The Australia New Zealand Biotechnology Partnership Fund today
announced $6.76 million in grants to the New Zealand partners in
four key trans-Tasman biotech projects.
The $12 million Fund was established last year to help New
Zealand biotech firms build their business through increased
co-operation with their Australian counterparts. Between 25 and
50 per cent of project costs can be met out of the Fund on the
condition that the contribution is matched from private sector
sources.
"One of the keys to sustained economic growth is New Zealand's
ability to developed world leading technology. Our biotechnology
sector is at the forefront of innovation and this fund is
designed to accelerate its growth and global reach," says
Associate Minister of Industry and Regional Development, Pete
Hodgson.
"Partnering with Australian biotech companies enables Kiwi firms
to accelerate their development not only within the trans-Tasman
market, but globally."
The grants announced today are:
- $3 million over three years for
Wrightson for the development and commercialisation of
genetically modified ryegrass for the international market,
- $2.19 million over three years for Proacta Therapeutics
for the development of a cancer treatment compound,
- $945,000 to Industrial Research Ltd (IRL) for the
development of new drugs, drug delivery technologies and
manufacturing techniques for them, and;
- $635,000 for Neuren Pharmaceuticals for the development
and commercialisation of a drug to treat spinal injury and
multiple sclerosis.
All developments are to be carried out in line with
prevailing national regulatory frameworks.
BACKGROUND
Wrightson - $3m over three years
The development and commercialisation of genetically modified
ryegrass. This project will involve the manipulation of genes
from a single species of rye grass. It does not involve the
transfer of genes from other organisms.
The project is a collaboration between Wrightson and the
Australian research organisation, the Molecular Plant Breeding
Cooperative Research Centre. The objective is develop forage for
the international market that would boost the productivity of
pastoral animals.
Development and field trials will be carried out in Australia.
Proacta Therapeutics - $2.19 million over three years
The project is to develop a second cancer treatment compound in
parallel to its lead compound, dinitrobenzamide mustard PR-104.
The lead investor is Australian venture capital company GBS
Ventures. Other investment partners include New Zealand based
No.8 Ventures and Endeavour I-cap.
Industrial Research Ltd - $945,000
Crown Research Institute Industrial Research Ltd (IRL) is to
develop new technologies for drug delivery for classes of drugs
used to combat sexually transmitted diseases, cancer and
glaucoma.
IRL's Australian project partner is Starpharma, a specialist in
the development of drug structures known as dendrimers.
Neuren Pharmaceuticals - $635,000
Neuren Pharmaceuticals for the accelerated development and
commercialisation of a drug targeted at spinal cord injury and
multiple sclerosis in partnership with Australia’s Metabolic
Pharmaceuticals. The acceleration of these phases prior to
clinical trials should increase the time available for maximum
commercial returns under patent life.
Background to the Fund
The Australia New Zealand Biotechnology Partnership Fund
(ANZBPF), administered by NZTE, is designed to facilitate and
accelerate trans-Tasman biotechnology industry collaboration.
Developing greater regional critical mass will give Australian
and New Zealand biotech companies better access to global market
opportunities.
The Fund consists of $12 million dollars to be distributed by 30
June 2007. The Fund will support a number of activities,
including the Australian-New Zealand Biotechnology Alliance. The
majority of the Fund will be available to industry in the form
of grants.
From 1 July 2004 eligible companies, including commercial
entities from within Tertiary Education Institutions (TEI) and
Crown Research Institutes (CRI), have been able to apply for
support ranging from under $2,000 for personal business skills
development and up to $1,000,000 per annum for large-scale,
trans-Tasman collaborative ventures.
Only New Zealand companies or organisations are eligible.
The ANZBPF is designed to complement existing NZTE economic
development services and support schemes offered by the
Foundation for Research, Science and Technology (FRST),
Technology New Zealand (Tech NZ) and the Health Research Council
(HRC). The ANZBPF will support development, marketing and
manufacturing initiatives between New Zealand and Australia; it
is a not a research fund. NZTE may direct applicants to other
NZTE, FRST or HRC funding schemes if the proposals received are
deemed more suitable for these funds.
For more information on the ANZBPF visit -
http://www.nzte.govt.nz/section/13681.aspx
|
