Medical device manufacturer Cook Medical Australia has opened a new commercialisation and development centre in Brisbane, designed to assist businesses, entrepreneurs and researchers from across Asia Pacific to bring new medical products and health related technologies to market.
Cook Medical Australia is committing $4 million to establishing the Asia Pacific Commercialisation and Development Centre (ACDC), located in the Cook Medical Australia precinct at Brisbane Technology Park, Eight Mile Plains.
The establishment of ACDC represents Cook Medical Australia’s long-term commitment to fostering R&D in Australia, while simultaneously creating opportunities for local advanced manufacturing jobs.
Successful ACDC research partners will have access to a full range of ACDC resources to support product commercialisation, including a world-class fabrication laboratory with 3D printing capabilities, electrical and mechanical systems for testing products, business facilities, as well as workshop and demonstration spaces.
A local team will coordinate the day-to-day operation of ACDC, while advisors, sourced from Cook Medical’s highly experienced management ranks, will provide practical advice and expertise at relevant points along the pathway to commercialisation.
Speaking at the ACDC launch event in Brisbane on Thursday 9 February, the Hon. Leeanne Enoch, Minister for Innovation, Science and the Digital Economy, emphasised the importance of advanced manufacturing to Queensland’s economic future.
“Queensland is in an excellent position to take advantage of the projected growth in the global medical technology industry, which by 2022 will be worth an estimated $530 billion,” Ms Enoch said.
“Cook Medical’s Asia Pacific Commercialisation and Development Centre will operate as an incubator accelerator for medical technology startups, a function that aligns with the Palaszczuk Government’s $405 million whole of government Advance Queensland initiative.
“Cook Medical will be the talent scouts for medical technology breakthroughs that could change the lives of people suffering serious illnesses and disabilities.”
Barry Thomas, Director – Asia Pacific, Vice President – Cook Incorporated, confirmed Cook Medical is looking to help boost the local economy by improving the rate of medical technology ideas achieving commercialisation in Australia.
“Australia’s future economic success will rely on our ability to retain intellectual property (IP) domestically,” he said.
“Cook Medical recognises the long journey required to bring new medical devices to fruition; ACDC will provide access to practical advice and expertise at relevant points along the pathway to commercialisation.”
“Creating an environment that attracts people with ideas from across the region, then nurturing those ideas through to commercial viability, will increase the local knowledge and skills base while potentially creating new employment opportunities.”
General Manager of Cook Medical Australia, Dr Samih Nabulsi, highlighted the company’s desire for ACDC to make a difference by improving patient health outcomes.
“The success of the ACDC will be measured by the outcomes achieved for patients through the devices and technologies created by participants, and it is this commitment by Cook Medical Australia that makes ACDC stand out from other programs of its kind.”
Notable members of Queensland’s research community and academia also attended the event.