Sydney's life sciences sector has reached a major milestone, with Kurraba Group announcing the first confirmed partners for ION – a purpose-built commercial life sciences precinct set to redefine innovation infrastructure in Australia.
Kurraba Group CEO and Co-Founder Nick Smith with IWG ANZ SVP and Country Manager Lisia Roth following the signing of IWG's partnership agreement with ION Waterloo. Image Credit: ION
Located in Waterloo, ION has been designed as a dedicated ecosystem for life sciences, biotech, medtech, deeptech and pharmaceutical organizations, providing the specialist infrastructure needed to support companies from research and discovery through to commercial growth.
The announcement of inaugural partners – SmartLabs, International Workplace Group (IWG) and Thermo Fisher Scientific – represents a significant validation of both the project and the broader opportunity emerging within Australia's life sciences industry.
Representing an investment of approximately $490 million, ION will deliver more than 27,000 sqm of lab-enabled space across a multi-building precinct of up to 10 levels, helping address a longstanding shortage of scalable, specialized life sciences infrastructure in Australia.
Building the infrastructure Australia has been missing
Australia has long been recognized for world-class medical research and scientific talent. However, the infrastructure required to support commercialization and scaling locally has often lagged behind global markets.
ION has been purpose-built to help close that gap.
Nick Smith, CEO and Co-Founder of Kurraba Group, said the precinct is designed to create the conditions needed for research and innovation to move more efficiently into real-world impact.
"ION represents a significant advancement for Australia's innovation and life sciences industry. By combining purpose-built infrastructure with leading global partners, we are creating the conditions for research to translate more efficiently into real-world impact."
Strategically positioned within Sydney's health, research and academic ecosystem, ION aims to strengthen Australia's ability to retain intellectual property, attract global investment and support the growth of local life sciences companies without forcing them offshore as they scale.
Introducing a global "lab-as-a-service" model to Australia
A key milestone for the precinct is the introduction of SmartLabs' globally recognized "lab-as-a-service" model to the Australian market for the first time. Developed to reduce barriers to entry for high-growth scientific organizations, the model provides flexible, fully serviced laboratory environments that remove the need for significant upfront capital investment.
The partnership between SmartLabs and IWG within ION marks the first collaboration between the two companies under their new global expansion strategy.
SmartLabs CEO Brian Taylor said the project creates an opportunity to bring a new level of flexibility and operational capability to Australia's life sciences sector.
Together, we are bringing a differentiated model to the Australian market, designed to give biotech and biopharma companies in the region access to flexible, high-quality laboratory environments and the operational support they need to innovate and scale with greater speed, efficiency and control."
Brian Taylor, CEO, SmartLabs
For emerging companies, this approach has the potential to significantly accelerate the path from discovery to commercialization by allowing teams to scale infrastructure requirements as their business evolves.
Creating an ecosystem for innovation
ION is designed to be more than a collection of laboratory buildings. The precinct will integrate specialist infrastructure, flexible workspace, incubator environments and embedded commercialization support to create a connected innovation ecosystem.
Thermo Fisher Scientific Australia and New Zealand Director - Strategic Partnerships & Precincts, Darren Verney, said partnerships like ION are critical to strengthening Australia's long-term life sciences capability.
"By working with Kurraba Group, we are helping to create environments where scientists and innovators can accelerate life sciences research, solve complex challenges and ultimately bring new therapies and diagnostics to market faster."
The precinct has been designed by HDR and will support organizations across the full innovation lifecycle, from early-stage research through to advanced manufacturing and commercial growth.
Construction progressing toward delivery
Kurraba Group has appointed Buildcorp as construction partner for the project, leveraging the company's experience delivering technically complex commercial and institutional developments across Australia.
Construction is anticipated to commence in the coming months, with project delivery currently targeted for Q4 2028.
As Australia's life sciences sector continues to evolve, ION is positioned to become a critical piece of national innovation infrastructure – supporting collaboration, accelerating commercialization and helping shape the future of health, science and advanced technology in Australia.