The next wave.

Australia is battling to turn scientific strengths and excellent natural resources into major biotechnology bucks as of December 2003. It's been a hot few months for Australia's young biotechnology industry. About half of Australia's 280 or so biotechs are in the medical sector, with core strengths in stem cell research, immunology, medical devices and neuroscience. Australian drug discovery is certainly in its early days, but there have been important breakthroughs. When the New York-based Juvenile Diabetes Research Foundation was looking for a site for the world's first type 1 diabetes vaccine research centre, there was only one choice which was Australia. INSETS: DIABETES: THE FIGHT IS ON;BIOPROSPECTING: A NATURAL ADVANTAGE.