New CSL HQ to “first and only” biotech incubator of its kind in 2023

A new incubator to open in 2023 at CSL’s global headquarters in Melbourne, with capacity to host 40 startups, has attracted $95 million in support from CSL, the Walter and Eliza Hall Institute, the University of Melbourne and the Victorian government.

CSL said in a statement that the facility would occupy two floors of its new building at Parkville, currently under construction. One of these would be for wet labs and the other for office space. 

Seven other floors would house laboratory and clinical manufacturing space supporting CSL’s R&D program, which spent over $US 1 billion last year.

“We are well positioned to support incubator residents, whose experience often lies purely within the lab, better understand commercial aspects of medicines development that may be foreign or new to them,” said CEO Paul Perrault.

It would be the “first and only” in the country to co-locate its inhabitants with a major biopharmaceutical company, CSL said in a statement on Tuesday. 

The Parkville National Employment and Innovation Cluster (NEIC) is home to 30 hospitals, medical research institutes, cooperative research centres and universities.

Although the precinct was known “for its internationally competitive, high-quality scientific outputs,” it was behind its global precinct peers “when it comes to translating biotech inventions into spin-outs and commercial outcomes,” said Professor Doug Hilton, director of the WEHI.

“This collaboration will help to build a generation of corporate and management-skilled scientists who have the knowledge and confidence to run a successful biomed or biotech company and raise the calibre and quantity of translational outputs from the Melbourne Biomedical Precinct.”

The $95 million is in cash and in-kind support. The Victorian government’s Breakthrough Victoria Fund had contributed a “substantial” investment it said in a statement. The size of this was not given.

Applications from startups would be accepted from across the country and the world. More information can be found by contacting  [email protected]. 

Pictures: CSL

Subscribe to our free @AuManufacturing newsletter here.