Big bucks for bio-breakthroughs

Victoria’s state government backs a biotech incubator in collaboration with CSL, Uni Melbourne and the medical research institute formerly known as Walter and Eliza Hall Institute

They are partnering with Breakthrough Victoria (“backed by the Victorian Government”) which has $2bn to invest over ten years “in industries that will create the jobs of tomorrow.” Although how much this commercialiser will get is not stated, with the incubator “valued” at $95m.

It will be based at the Parkville Biomedical Precinct (so convenient to Uni Melbourne) and host “up to” 40 biotech start-ups at a time.