Australian Biotherapeutics begins production at new factory

Australian Biotherapeutics has begun production at a new $10.4 million factory at Coolum’s Suncoast Business Park.

The factory’s official opening was announced on Wednesday, and would lead to an estimated 25 jobs over the next five years, according to a statement from the Queensland government.

“More than $1 million of medical grade biotherapeutic products will be manufactured during 2021 for export to the United States,” said state treasurer Cameron Dick.

“With manufacturing output estimated to increase to over $5 million by 2023, this Sunshine Coast company is in a prime position to take a share of the $50 billion a year international biotherapeutics market.”

Australian Biotherapeutics is in a joint venture with Servatus, a developer of microbial-based drugs.

Servatus CEO Dr Wayne Finlayson said that without Queensland government support the company would have moved production to the United States. The factory received a grant through the Advance Queensland Industry Attraction Fund.

“This joint venture is pioneering biomanufacturing in the region and offers high-value job opportunities in professional and business management areas as well as research and development positions in the future,” added Finlayson.

Picture: Sunshine Coast Daily

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