Chief executive of contract research operator Novotech, Dr John Moller, said many research sites across the Asia-Pacific region were modifying operations to keep running projects remotely.

"Some sites are reconfiguring their operations to work in the new environment they may be undertaking increased levels of remote monitoring or they may move their clinical trial sites away from areas where they are likely to treat COVID patients," he said.

"A majority of sites continue to be very interested in new studies and the review and approval of non-COVID-19 clinical trials are continuing."

Despite this, company founders said the sector was facing many unknowns.

Chief executive of stem cell therapies company Cynata Therapeutics, Ross MacDonald, said recruitment for upcoming planned research was on hold as the business waited on answers.

"We don't know. We're in the same situation as everyone else at the moment, and looking to the government to ask, 'when are we getting out of this?'" he said.

Cynata's research blueprint for this year includes a phase two clinical trial of its product for treatment of osteoarthritis and critical limb ischemia, an artery disease.

Ms Chiroiu said after the pandemic was over she believed the move to remote healthcare services would be a "lasting legacy" that would enable companies to include a wider variety of Australians in research.

A move to virtual consultations could actually change how Australians recruit and monitor research patients, she said, a move policy experts have agreed would be a major win for more inclusive medical research.

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"There has been lots of talk at policy level about involving more rural and remote communities in clinical trials. There's a move towards trying to conduct telehealth consults wherever possible it will be a great jump start to that," she said.

However, companies that do not have strong capital bases may not live long enough to see that change, she warned.

"Those wanting to raise money will have to wait until the other side ... and there is still investment capital around, but just much less that there was."

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Emma is the small business reporter for The Age and Sydney Morning Herald based in Melbourne.

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Coronavirus focus tipped to 'mothball' biotech research - The Age