The biotechnology, medical technology and pharmaceutical industry has applauded the $18.8m funding announcement for the National One Stop Shop (NOSS) for clinical trials, with the Research and Development Taskforce (RDTF) welcoming the opportunity this presents to Australia and Australians.
Appropriate and sustainable Federal Government funding is key to ensuring the platform becomes a reality. The NOSS will help actively position Australia as a globally competitive R&D destination bringing the latest medical therapies to Australian patients and creating further jobs and growth in the sector.
The RDTF is a multi-sector collaboration between AusBiotech, Medicines Australia, and the Medical Technology Association of Australia (MTAA). The membership consists of research and development experts, particularly in clinical trials, and offers a unique industry perspective to stakeholders across Federal and State Governments as well as the broader health and research and development sector.
The life sciences sector has been advocating for a single, harmonised, end-to-end process across the different jurisdictions since the Federal Government established a Clinical Trials Action Group in 2009, with concerted engagement especially over the past two years.
The RDTF is committed to working collaboratively and closely with the Government to support the platform's development and implementation and, importantly, to ensure it is built to accommodate both public and private healthcare organisations present across the nation.
Investing in the NOSS will serve to foster innovation, create jobs, and reinforce Australia's position as a global leader in research and development. It will also increase opportunities for Australians to access the latest medical therapies through participation in increased trials.
Australia is a preferred destination for clinical trials, with excellent healthcare facilities, world-class researchers, a diverse population, and strong legal frameworks with robust IP protections. However, the complex regulatory environment for trials in Australia can act as a barrier for companies looking for efficient and cost-effective locations.
Harmonising these processes through the NOSS will ensure patients get access to the latest medical therapies and that Australia remains globally competitive as an R&D destination, benefiting both Australian patients and the economy.
