Australia's revised code to benefit ASX-listed life science companies

Australia’s Minister for Technology, Gordon Rich-Phillips, this week joined forces with the Australian Securities Exchange (ASX) and Australia’s biotechnology industry association, AusBiotech, to launch a revised edition of the industry code of best practice that will support capital formation by ASX-listed life science companies.

Speaking at the opening of the AusMedtech conference in Melbourne, Mr Rich-Phillips said that the revised and updated Code of Best Practice for Reporting by Life Science Companies will have far-reaching benefits for the industry.

“The Code articulates the ‘best practice’ message, which aims to provide investors and others with reassurance when investing in life science companies, thus supporting the industry in its ongoing bid to attract capital,” stated Mr Rich-Phillips , adding: “It also seeks to support and build the capability and understanding of less experienced directors or those new to life sciences. Support for revision of the Code was recommended by the Victorian Biotechnology Advisory Council, and is very much in line with objectives of our major policy statement, Victoria’s Technology Plan for the Future – Biotechnology.”