Leon Serry, considered the ‘father of the Aussie biotech sector’ has died

The investor and philanthropist founded Circadian Technologies and kickstarted the Australian biotech investment industry.

The late Leon Serry, managing director of Circadian Technologies and considered the ‘father of the Australian biotech industry’.

Leon Serry – company executive, investor, philanthropist and a man considered by many as the father of the Australian listed biotechnology sector – has died at the age of 82.

He was born in Newcastle where his father ran the government parachute factory, and later moved to Melbourne.

Mr Serry left Camberwell High School at 15 to work as a cost accountant and at age 19 became a qualified accountant, the youngest in Australia.

Mr Serry was the founder and chief executive of Circadian Technologies, the first listed biotechnology company in Australia, which paved the way for massive growth in the sector.

He founded Circadian in 1984. The mission brief when the company listed in 1985 was simple, frank and highly ambitious, reflecting the drive of Mr Serry but also his outlook on life and how individuals could make the world a better place.

“The current revolution in life sciences promises breathtaking advances in healthcare and medicine that cure what was previously incurable … Circadian’s mission is to contribute to these breathtaking advances for the benefit of its shareholders and society,” the Circadian annual report stated.

Mr Serry had no scientific background, but became excited about the field after reading an article in Time Magazine. This was at a time when no one understood the commercial value of biotechnology or how to value it.

Revered scientist Sir Gustav Nossal called Mr Serry “the father of the Australian biotechnology sector” and upon his retirement said his commercialisation model was the best thing that ever happened to the industry.

Over the years, Mr Serry raised hundreds of millions of dollars for medical research and biotechnology companies, providing the necessary funds to pay for important medical and scientific research.

There are now about 175 ASX life sciences companies worth tens of billions of dollars – and it all started with that one man in 1985.

“Even in retirement Leon kept an office to invest in mostly small good idea biotech companies and mentor the next generation. Underpinning all this was a passion for supporting those trying to change the world, improving healthcare and getting on board despite biotechs being risky investments,” said Monsoon Communications founder and leading biotech PR agent Rudi Michelson.

“He was kind hearted and a regular lunch host at his two favourite haunts: Flower Drum and Bistro Thierry.”

Mr Serry leaves behind a wife, children and grandchildren.

Originally published as Leon Serry, considered the ‘father of the Aussie biotech sector’ has died