‘Game changing’ economy boost from cancer treatment company
Exclusive: A pioneering cancer treatment technology company has chosen Christchurch as its next base, potentially adding $200 million to the local economy.
BioOra, a New Zealand biotech organisation specialising in CAR-T treatment - found to be effective in treating certain blood cancers, including lymphomas, leukaemia, and multiple myeloma - was won over by the city’s growing health precinct, universities and international airport.
It will create a state-of-the-art manufacturing base at Christchurch’s Te Papa Hauora Health precinct in the central city.
The major capital investment has been described by Business Canterbury’s chief executive Leanne Watson as “a game changer” for the region.
CAR-T immunotherapy modifies a patient’s T-cells to seek out and destroy cancer cells, but treatment is not currently available in New Zealand.
Financial backing for the new facility has come from Bridgewest Ventures NZ, a subsidiary of US-based investors BridgeWest Group, which globally manages over US$1b in assets.
The announcement comes days after Pratt & Whitney confirmed a $250m investment into a new Engine Centre, based at Christchurch Airport.
The city is also home to Seequent, with the global software firm choosing Christchurch for its headquarters.
After identifying Christchurch asits next base, BioOra’s managing director John Robson said a stage one clinical trial and CAR-T research would also continue at the Malaghan Institute of Medical Research in Wellington.
However, Christchurch’s health precinct with the public hospital and university research nearby made Ōtautahi a good location for manufacturing and eventually administering CAR-T to patients.
“If you are delivering immunotherapy, you need engineers, nurses and doctors, and if you have those groups on tap, then you have a home base of talent,” Robson said.
Once fully operational, the Christchurch facility would employ 75 staff.
Christchurch’s international airport would eventually bring patients to New Zealand for private treatment.
ChristchurchNZ spokesperson Martin Cudd said BioOra’s investment in Christchurch was just one example of a fantastic pipeline of potential opportunities.
“BioOra will attract innovators in the immunotherapy space internationally and will enhance the health ecosystem in Christchurch,” Cudd said.
“We have to give a whole bunch of credit to the people who put together the health precinct, like Peter Townsend, who put together that community, close to the hospital and the university.”
Watson said BioOra’s investment in Christchurch showed growing interest from local and international business.
“Christchurch had the highest net migration two years in a row, people are choosing to study, live and work here.”
“We have a strong history of pioneering; businesses such as Tait Communications and Hamilton Jet which have attracted visionary thinkers who are choosing to do business here.”
Christchurch offered many attractions for employers and employees, Watson added.
“The minute any of these companies advertise jobs, people want to move here. We are affordable, safe, and we are early adopters for new technologies.”