New biotech incubator welcomes expressions of interest

By Rachel Arthur contact

- Last updated on GMT

Pic:getty/aimagine
Pic:getty/aimagine

Related tags: incubator, Australia, CSL

A new biotech incubator, which will be located at CSL’s new Global Headquarters in Melbourne, Australia, is welcoming expressions of interest ahead of its 2024 launch.

Open to start-ups across Australia and internationally, the incubator will give participants access to industry expertise and specialized lab and clinical facilities and infrastructure to develop and commercialize innovations.

It will be Australia’s first and only incubator that is co-located with a leading biopharmaceutical company, pledging to provide all of the wrap around support start-ups need to translate medical research into new treatments and therapies.

Taking research to the next level

The incubator will be open to applications from small biotech companies who have engaged in early research and are seeking to take their discoveries to the next stage of development.

Created by global biotech CSL, biomedical research institute WEHI and The University of Melbourne, the incubator will be operated by Sydney-based Cicada Innovations (twice named ‘top incubator in the world’ by International Business Incubator Association, Cicada has helped incubated start-ups raise over $1.5bn in funding, achieve over $1.3bn in exits and trade sales, file over 600 patents, and launch over 700 innovations globally).

Located over two floors of CSL’s new corporate headquarters being built in the Melbourne Biomedical Precinct, the incubator will provide affordable, state-of-the-art wet-lab facilities, equipment and office space to start-ups. The incubator will be embedded alongside seven floors of laboratory and clinical manufacturing space supporting CSL’s own R&D program.

Cicada will provide a range of services, including commercialization education programs, facilitated access to investors, industry mentoring and access to service providers for incubator residents, ensuring the creation and ongoing success of a vibrant biotech ecosystem within the incubator.

The incubator will be able to accommodate up to 40 early-stage companies from around Australia and internationally.

CSL’s Chief Scientific Officer, Dr Andrew Nash said incubator residents will benefit from Cicada’s operational expertise and proven track record of incubator management as well as its location within CSL’s new R&D hub.

“The strong collaboration between CSL, the University of Melbourne, WEHI, Breakthrough Victoria and now Cicada Innovations has been critical to bring the incubator to fruition and reflects CSL’s values and desire to deliver on our promise to patients worldwide.

"As Australia’s largest biotech, we can share our extensive knowledge with resident biotech start-ups who will have access to the wrap around support they need to translate their medical research into new treatments and therapies,”​ he said.

Start-ups interested in applying for residence in the incubator are invited to email incubator@csl.com.au.

Related topics: Bio Developments

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