Recent Report Shows Australia Rising to 3rd in Number of Industry-Initiated Phase I Clinical Trials in 2021
The Association of the British Pharmaceutical Industry, which is the UK’s equivalent to Medicines Australia, recently issued a report concluding, “Pharmaceutical companies are increasingly placing their trials in other countries (e.g., Australia and Spain).”
The report shows Australia rising from sixth in 2017 to third in 2021 for the number of industry-initiated Phase I clinical trials. 107 trials were initiated in Australia, which was only behind the US (505) and China (395). Australia also ranked fourth in the number of industry-initiated Phase II clinical trials in 2021– a significant leap from prior years, in which Australia did not break top ten.
Australia has been gaining increasing market share because of several factors, including the quality of research service providers, the fastest regulatory pathway in the world and 43.5% cash rebate for R&D expenses incurred in Australia.
Jason Valentine, COO of Agilex Biolabs, commented, “Our 25-year track record of bioanalytical excellence and expanded toxicology capabilities poise us as a trusted partner for global biopharmas as they turn to Australia for their nonclinical and clinical research programs.”
Agilex Biolabs is the leading bioanalytical lab supporting Australian clinical trials, providing the largest and most technologically advanced regulated bioanalytical and toxicology laboratory in the country. With its 2021 acquisition of TetraQ, Agilex also stands as the largest GLP rodent toxicology study provider in Australia. Agilex equips biopharma companies around the globe with reliable and defendable clinical bioanalysis, biomarker data and toxicology studies for the development of new therapeutics and modalities, including small molecules, biologics, cell and gene therapies, and vaccines. Learn more about the advantages of conducting your drug development program in Australia by speaking with our team of experts today.
