Victoria backs IDT Australia to make anti-cancer drugs

The Victorian government has announced backing for pharmaceutical manufacturer IDT Australia to boost production of live-saving cancer treatments.

IDT Australia will build a new facility in Boronia, Melbourne to manufacture Antibody Drug Conjugates (ADCs) which have the specificity of monoclonal antibodies and deliver chemotherapy agents to cancer tumor sites.

ADCs are set to replace almost 50 per cent of all chemotherapies in the next 15 years, according to the government, with their highly specific and accurate targeting ability improving patient outcomes.

The Minister for Jobs and Industry Natalie Hutchins today announced the investment but gave few details, except that it would create 25 jobs.

IDT Australia CEO Paul McDonald said: “We are thrilled with the support of the Victorian Government to accelerate our advanced technology in antibody drug conjugates and add to the states capabilities in this progressive technology to treat cancer patients.”

The new facility will be home to four new laboratories and the only facility in Australia to locally produce accredited ADCs.

According to the government: “This investment backs our world-class medtech sector which includes 650 medtech companies that employ 6,000 people and generates $1.4 billion in economic value every year.

“We’re also backing our local medtech sector to drive new developments, attract investment and create new local jobs through the government’s $15 million Made in Victoria – Industry R&D Infrastructure Fund and our $20 million Manufacturing and Industry Sovereignty Fund.”

Picture: IDT Australia/sterile facility