BioTechNZ News: Challenging times

Forging a better tomorrow for biotech.

Insights from our Executive Director 

Challenging times have brought us face-to-face with the need to scrutinise our daily spending. Rising mortgage payments, soaring food prices, increasing power, insurance and petrol costs are just a few of our concerns. During our recent event in Dunedin, supported by ASX and the University of Otago, numerous companies also shared their challenges including consolidation, restructuring for efficiency and innovative approaches to capital raising during this tight fiscal environment. 

BioTechNZ is your industry body and we remain committed to keeping biotech at the forefront of the Government’s agenda. We actively engage in Government submissions and host networking events with insightful speakers. We are also finalising details for our annual Life Sciences Summit, scheduled for 11-12 March, 2024.

However, we greatly value your feedback and would like to hear from you. If you have ideas on how we can enhance your membership experience and further contribute to the industry, please contact us. Together, we can navigate these challenging times and forge a better tomorrow for biotech.  

Beneficial impacts of new regulations 

The recent passing of the Therapeutic Products Bill marks the most significant change to the regulation of medicines, medical devices and natural health products in nearly 40 years. A number of industry bodies have engaged in significant work to help ensure the Bill is more relevant to Aotearoa, however, some concerns still remain. We will be continuing to work with the Manatū Hauora Ministry of Health, to ensure the detail of the Bill is clearly articulated.   In other changes, the Misuse of Drugs (Medicinal Cannabis) Regulations 2019 has been amended to better support economic and research opportunities for the medicinal cannabis industry.

Current Submissions 

Please email me your opinions, thoughts and views to be included in our consultation on GMO used in the laboratory submission, due 25 August.

Help shape the future of our sector

We are currently seeking nominations for the BioTechNZ Executive Council. All New Zealand BioTechNZ member organisations can nominate a representative. This is your chance to be involved in shaping the future direction of Aotearoa’s biotech sector! Please submit your nomination online here. The deadline for nominations is 5pm on Wednesday 16 August. Online elections will follow and the new Council will be announced at our Annual Meeting on Tuesday 19 September. Please register to attend this members only event.

Ngā mihi
Zahra Champion
Executive Director

PS: Don’t forget to save the date for our Life Sciences Summit 2024: 11-12 March. Register your interest here and we’ll keep you updated.

Read more here: challenging times