A small South Australian vaccine research and development business, Vaxine, has been awarded for their innovative research into developing the first swine flu vaccine at the 2009 Telstra Business Awards.
The small business was awarded the AMP Innovation Award at the National awards ceremony held in Sydney last night, for their work in developing the first swine flu vaccine. The company recently signed an $8.5 million five-year contract to provide vaccine research and development services to the US Government.
Telstra Business Group managing director Deena Shiff said 2009 had been a remarkable year for the Telstra Business Awards, with many smaller firms demonstrating an exceptional commitment to leadership, innovation, customer relationship management and strategic planning.
Despite beliefs that vaccines were a dying and unprofitable business and that new vaccine technologies had no commercial future, Vaxine has proven that an innovative business model based upon a firm belief in its product can outperform a competitor many times its size.
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