Paul Brennan just had a 5 minute segment on ABC 24 "The Business" this evening discussing Polynovo and the broader picture of biotech manufacturing in Australia. They discussed the federal government's $1.5B announcement to boost Australian manufacturing capabilities with a focus on six key fields, one of which being medical products, and how this may benefit Polynovo and other biotech start-ups.
He did mention how moving forward we will no longer qualify for the federal R+D tax incentive due to revenue being in excess of $20m; perhaps the government may look at other incentives as apart of this massive cash injection into Australian manufacturing.
Interesting times ahead that's for sure!
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