20 October 2016
A start-up company that has developed a breakthrough technology that will greatly improve the efficiency and accuracy of pre-clinical medical research will establish its development and manufacturing operations at Tonsley.
“Companies like Somark are moving to Adelaide because we’re delivering the right environment: great facilities, talented staff and a government that understands what business needs,” said Minister for Health Industries Jack Snelling.
“The government is continuing to expand Adelaide’s life sciences’ sector, delivering hi-tech, high value jobs in the transformation of the state’s economy.”
The 48 new hi-tech, high value positions will be filled in Adelaide over the next three years, and will help expand SA’s fast-growing life sciences ecosystem.
Somark will base its operations in Adelaide, with a continued presence in Sydney, London, Boston and San Diego.
Somark is developing the Somark Ecosystem, an integrated end-to-end pre-clinical management system utilising visual identification, micro-RFID (radio-frequency identification) technology, data readers, data hubs and software that aggregates and analyses data.
“We chose Tonsley because it’s a real community that’s been developed by the government for hi-end manufacturing and development, housing companies just like us,” said Adrian Knight, CEO of Somark Innovations.
“Dealing with Health Industries South Australia was easy and efficient. They sat down with us, found out what we needed and helped deliver it.”
Somark is being supported by a State Government grant from the Early Stage Commercialisation Fund and loans drawn down when employment milestones are reached and maintained.
“Health Industries South Australia saw that Somark would be a great addition to Adelaide’s growing life sciences community and is helping the company establish at Tonsley,” said Marco Baccanti, Chief Executive of Health Industries South Australia.
“We identified the company’s needs, connected them with local partners, and helped deliver financial support.”
Somark will be partnering with the South Australian Health and Medical Research Institute (SAHMRI) to help test the device under real-world pre-clinical conditions.
Forty-three and a half per cent of R&D costs will be reimbursed in cash to eligible companies with an aggregated annual turnover of less than A$20 million. Read more