GEN1 Biotechnology

About

GEN1 Biotechnology is building a large-scale biopharmaceutical manufacturing facility in Adelaide's Tonsley Innovation District to produce high-value injectable therapies for cancer, hypertension, and diabetes for domestic and international markets.

Mission

GEN1 Biotechnology is developing a large-scale biopharmaceutical manufacturing facility in Adelaide to produce high-value injectable medicines for Australian and international markets. The factory will make injectable treatments currently imported, including therapies for cancer, hypertension and diabetes. GEN1 has secured a site in Adelaide’s Tonsley Innovation District and says the project could save South Australia up to AUD$70m a year in medication spending. The company plans to raise a total of AUD$160m (USD$126m) over the next three years to complete the build-out. Current backing for the project includes Australian private equity investors, local banks and the South Australian Government’s Health Industries Fund; initial funding came from Asian and European investors. GEN1 cites a domestic injectable market larger than AUD$10 billion with estimated annual growth of 15–20% (IMS Health). The AUD$8m injection announced in 2017 is intended to support delivery of the Adelaide factory.

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