Even though some of Australia's most elite marine science research institutes are world-leaders in the discoveries and applications of Marine Biotechnology, this is a fairly recent addition to the 'Life Sciences Industry'.

Surrounded by one of the world's largest and most diverse ocean territories, the Australian Marine Biotechnolgoy Industry has access to a wealth of untapped biodiversity for the discovery and development of pharmaceutical and other biotechnology products.

The industry can play an important role in Australia as it can help address the world's growing need for food, drugs and materials from the ocean. Working in biotechnology and discovery, cultivation of marine natural products (without over-exploitation and destruction of habitats) makes this an important sector of the Australian Life Sciences Industry.