This is the eighth Biotechnology Industry Position Survey conducted by AusBiotech and supported by Grant Thornton. The 2018 Survey reveals the strongest ever business sentiment across the sector.

The number who described the environment as conducive to growing a biotechnology company has almost returned to 2016 levels after a fall last year in response to uncertainty over the future of the R&D Tax Incentive.

The return of more positive sentiment towards the environment also comes as the recent announcement in the 2018-19 Budget of changes to the R&D Tax Incentive exempted investment in clinical trials from the new $4 million annual cap on the refundable component.

Key findings in the report include:

• Biotech booming
• Value of clinical trials recognised and supported
• Snapshot shows a larger sector than expected
• Skills and talent attraction looms as significant issue