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In this final part of the roundtable discussion the panellists address the role of government in commercialisation and then provide their closing comments on how we can improve the system in Australia.

It's the perennial question: how do we effectively translate cutting edge research into successful products in the market? Australian Life Scientist brought together a panel of industry luminaries to discuss the challenges of commercialisation in Australia.

Venture capital looks for three things in a biotechology company: people, people and people. So said Michael Quinn, managing partner at Innovation Capital, speaking at the inaugural Australian Life Scientist Roundtable discussion on Friday.

Ian Olver, CEO of Cancer Council Australia, and Trevor Davies, of the Institute of Patent and Trade Mark Attorneys of Australia, debate the merits and dangers of gene patents.

Nominations for the 2009 BioFirst Commercialisation Award are now open

Special Phage Holdings wins NSW commercialisation award

Progen goes into Phase III and ChemGenex Phase II, Bionomics looks at anxiety, Clinuvel gets orphan designation and Avexa announces collaboration and good results.

NSW is running its annual BioFirst commercialisation awards again, offering cash and advice for local biotechs.

Diagnostic platform developer Medsaic has won the NSW government's inaugural BioFirst commercialisation award, at a ceremony on Monday evening.

With technology advancing so rapidly in many potential commercial areas of life science, patent attorneys, intellectual property (IP) and commercial lawyers, and lawmakers will face a number of challenges over the next 10 years, says Trevor Davies.