WA biotechs are booming; now government wants to make the state a life sciences hub
Health & Biotech
Health & Biotech
With the health and life science sector being the ASX’s top performer last year, Western Australia is keen to join the party.
The state government has formed an Industry Reference Group to come up with a five-year growth plan for the industry over the coming months.
The group will be chaired by WA Chief Scientist Peter Klinken. Among its panel members is Michael Winlo from Emerald Clinics, which is listing on the ASX within days.
Health Minister Roger Cook said Perth was becoming one of Australia’s top life sciences hubs, but he wanted to take things further.
“We have a fantastic opportunity to further support our local health and medical life sciences industry which continues to deliver world-leading innovations that improve health outcomes for people in our state and globally,” he said.
“This plan will complement a range of existing initiatives and strategies, including the Sustainable Health Review’s priority to foster a culture of innovation in the WA health system to deliver better patient care.”
There are nearly 30 biotech small caps on the ASX with headquarters or operations in WA.
Code | Name | Price | 1 Year % Return | Market Cap |
---|---|---|---|---|
OCC | ORTHOCELL LTD | 0.49 | 226.67 | 90.33M |
IHL | IMPRESSION HEALTHCARE LTD | 0.06 | 221.05 | 43.15M |
RAC | RACE ONCOLOGY LTD | 0.27 | 211.76 | 28.92M |
RHT | RESONANCE HEALTH LTD | 0.21 | 187.67 | 90.49M |
RAP | RESAPP HEALTH LTD | 0.25 | 155.32 | 167.10M |
RCE | RECCE PHARMACEUTICALS LTD | 0.38 | 153.33 | 51.02M |
PAA | PHARMAUST LTD | 0.1 | 151.57 | 31.71M |
PYC | PYC THERAPEUTICS LTD | 0.06 | 117.86 | 178.82M |
AHZ | ADMEDUS LTD | 0.08 | 110.26 | 48.45M |
MDR | MEDADVISOR LTD | 0.52 | 107.98 | 121.74M |
IMU | IMUGENE LTD | 0.03 | 77.78 | 141.63M |
BD1 | BARD1 LIFE SCIENCES LTD | 0.03 | 51.25 | 45.12M |
BPH | BPH ENERGY LTD | 0.001 | 0 | 3.34M |
ZLD | ZELIRA THERAPEUTICS LTD | 0.06 | -6.9 | 47.22M |
NSB | NEUROSCIENTIFIC BIOPHARMACEU | 0.17 | -11.11 | 12.54M |
BOT | BOTANIX PHARMACEUTICALS LTD | 0.09 | -13 | 84.62M |
MXC | MGC PHARMACEUTICALS LTD | 0.03 | -20 | 43.88M |
NC6 | NANOLLOSE LTD | 0.07 | -23.6 | 5.10M |
HMD | HERAMED LTD | 0.17 | -23.91 | 18.06M |
PIQ | PROTEOMICS INTERNATIONAL LAB | 0.28 | -27.27 | 25.73M |
AJJ | ASIAN AMERICAN MEDICAL GROUP | 0.08 | -31.67 | 28.52M |
SUD | SUDA PHARMACEUTICALS LTD | 0.05 | -53.68 | 7.82M |
CPH | CRESO PHARMA LTD | 0.15 | -63.86 | 27.62M |
NTI | NEUROTECH INTERNATIONAL LTD | 0.01 | -70.97 | 1.22M |
AEB | AFFINITY ENERGY AND HEALTH L | 0.009 | 0 | 18.2M |
OBJ | OBJ LTD | 0.015 | -12 | 25.3M |
IXC | INVEX THERAPEUTICS LTD | 1.18 | 195 | 66.00M |
The most famous of these is Orthocell (ASX:OCC) which wants to fix the problem of nerve damage. The company’s share price has tripled in a year on trials proving its technology works.
Another WA-based biotech is cancer-fighter Race Oncology (ASX:RAC) which is trying to bring an orphan drug to market for a rare type of leukaemia. It has also tripled in 12 months.
Invex Therapeutics (ASX:IVC) only listed in July but it too has been a top performer. Its goal is to relieve intracranial pressure, which occurs on the brain as a consequence of fluid build up. Among its backers is Fortescue Metals boss Andrew Forrest, who has a 9 per cent stake in the firm.
Another emerging sub-sector in WA is the cannabis sector. Two pot stocks, Emerald Clinics and Little Green Pharma, will hit the boards in the next few weeks.
Among the already listed cannabis-focused stocks, the best performer has been Impression Healthcare (ASX:IHL).
Of course there are a handful of laggards as well. The biggest is Neurotech (ASX:NTI) which makes devices aiming to help children with autism.
Last month it suffered a big blow when its device was dropped from the register of therapeutic goods, meaning it cannot be sold in Australia.
While Botanix (ASX:BOT) rallied for much of last year, it came crashing back to earth in October when a clinical trial disappointed.
READ MORE:
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The health sector has been the ASX’s top performer in 2019, but could a recession stop it in its tracks
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