The European Biopharmaceutical Enterprises (EBE) trade body pronounces that the pharma sector of European Union is distress as biopharmaceutical industrialist can’t invest growth in the EU. It is obvious that this week’s major event of biopharmaceutical, BIO, held in San Diego, USA, has fascinated many European biopharmaceutical entrepreneurs for they are not able to bargain adequate financial support in Europe.
Delegation from Belgium, at least 75 entrepreneurs made its way to the USA looking monetary support and partnership to help them have their projects going, according to FlandersBio. BioTechNow shows that in 2013, only four biotech companies from Europe went public whereas in the US market, there are 23 initial public offerings (IPOs) are attributed. Several stakeholders meet together in Brussels to take part in a high-level dialogue in order to prevent from jeopardizing additional loss of businesses and competitiveness on the area of the biopharmaceutical market. Different officials from European Investment Bank and the European commission together with a small and medium-sized enterprise (SME) agents and the Venture Capital sought to identify and analyzed present financing mechanism to overcome bankruptcy and loss of many entrepreneurs that are fronting the early stage and to seed financing level.
Collective research targets to redress balance
Chairman of the dialogue, William Brooks, stresses that finance access for emerging companies is never ending problem and it is on-going. By adjusting its present financing measures and revising policy tools, the European Union can transform R&D innovation to its full prospective that will impact both its citizens’ health and economic future. The sequence of planned high-level dialogues, attracting funders with EU officials and industry stakeholders will reveal unique ways to innovate the role of the EU’s financial system and help early stage companies get their merchandises and product to the market and make developing, sustainable European life science business.
EBE president, Roberto Gradnik, added that he is delighted in recognizing the collaboration research instruments such as Horizon 2020 and Innovative Medicines Initiative (IMI2) which is a promising turnaround in funding policy of EU and not only supporting research and applied research, but also funding research that supports innovation and delivery of ground-breaking, diagnostics and therapies. Apart from public tools in EU, it is essential that all finance public players take part in looking answers and results for sustainable European biopharmaceutical ecosystem.
These series of policy dialogues are initiated by LOGOS Public Affairs and reinforced by the EBE which seeks the improvement of present financing system for biotech in Europe to prevail over the so-called death valley of entrepreneurs at early stage. The aim to bring together all venture capital funds, SMEs, large pharmaceutical companies, industry stakeholders, European Investment Bank, European Investment Fund as well as European Commission to go hand in hand in overcoming the odds.