I have a theory that today’s price action across several...

I have a theory that today’s price action across several speculative biotechs is part of a greater move involving the federal government, and the news that we may be expecting next week due to today’s SP could actually be positive news not just for imugene but across the whole medical research sector in Australia.

To back up this theory there has been an ongoing Federal parliamentary inquiry into the approval Process for new drugs & medical technologies in Australia , with the House of Representatives standing committee on health,aged care and sport holding public hearings just weeks ago.

Professor Fabienne Mackay who is the director of QIMR Berghofer Medical Research institute ( one of Australia’s largest & most successful ) had the following things to say to the committee

”standardised governance procedures, in particular for clinical trials should also be implemented across public hospital systems, many of our researchers are trying to progress important new therapies through clinical trials but feel the process is too slow”

”cutting red tape would bring more efficiency to the medical research sector, attract more investment in the field, and increase jobs and industry sponsored clinical trials in Australia”

”standardised & mutually recognised Approvals would allow industry sponsors to perform their clinical development programs faster as more patients could be given fast access to novel therapies in clinical trials performed at multiple clinical centres in the country”

More streamlined processes will also give global companies and international collaborators increase confidence in Australian process and research and in addition to the economic benefits this brings we would also increase our manufacturing sovereignty and decrease our risk of limited supply in a health emergency such as covid 19.
”Many of our research is conducted clinical trials in an environment of transparent and contemporary ethics in collaboration with our hospital and health service colleagues, but their research efforts are often slowed and frustrated by the approvals process. We are hoping this Parliamentary review will help remove the many hurdles they face, so they can focus their energies and what they do best”

combine this with recent new research initiatives announced in last months commonwealth budget and it all starts to point in the right direction for the biotech sector.

in the past few years Australia become a hotspot for clinical trials,which have gained so much attention that it prompted the government to do a federal inquiry into streamlining its processes

I think we might just see the culmination of this inquiry played out in the media next week, and would not be surprised if Scomo/Greg Hunt hold a televised Press conference outlining the governments intent to drive this sector in Australia.
Right right place right time for Imugene and others!