Name Dr George Syrmalis
Company The iQ Group
Global
Position Founder & CEO
HQ Sy d n e y, A u s t r a l i a
Employees 100+EXECUTIVE INTERVIEW
The business
of biotech
An oncology drug that introduces a new therapeutic
class and a glucose biosensor that could change the way
diabetes is managed forever; these are two of the latest
developments to come out of the The iQ Group Global.IMAGES SCOTT EHLERI
n the future, biotechnology is going to be responsible for the biggest
evolution the world has ever experienced. That’s according to Dr George
Syrmalis, Founder and CEO of The iQ Group Global. “I don’t think the
world has ever seen such a great shift,” he says. “The applications of
biotechnology are not only therapeutic or diagnostic; they apply across
every facet of our lives. Biotechnology is not a product nor an industry, its the
most powerful tool known to humanity, it will enable us to redefine the way we
live, to create a sustainable ecosystem, redefine global nutrition resources,
identify the pathogenesis of disease and prevent it. We just need to work out how
to deploy it effectively to create the most meaning ful impact on society.”The iQ Group Global is playing a significant role in this. Comprised of multiple
companies that provide services to the biopharmaceutical industry, the
business’ aim is to help its clients commercialise life science R&D and
maximise return on investment for The iQ Group Global shareholders. To do
this, it works with its clients throughout the entire product development cycle.
George believes this approach is beginning to redefine the sector.“Pharmaceuticals, whether chemicals or biologics, typically take 12–14 years to
go from discovery to market. To become commercially available they undergo
various phases of clinical testing and an extremely rigorous due-diligence
process by the regulator. The development cost is around $2.5 billion, and the
success rate is only 20 per cent. Through our group of companies, we partner
early on with University biotech incubators and support the entire R&D journey.”