A new conference organised by France’s biotechnology body hopes to raise awareness of European biotech innovation and increase funding.
The HealthTech Investors Days conference is taking place over June 24-25 in Paris, run by France Biotech. It brings together 100 European biotech companies developing new medicines and therapeutic solutions and hopes to facilitate collaboration with international investors and big pharmaceutical drug companies.
The continent is no stranger to health and biotech innovation, being home to around 30,000 health tech companies. ASX small caps such as Cynata (ASX:CYP), Regeneus (ASX:RGS) and MGC Pharmaceuticals (ASX:MXC) are all active in Europe.
But the sector is hampered by “structural weakness” in funding, organisers said.
“The development of a new drug from benchside research to the market takes ten to fifteen years on average. For medical devices, the development process usually lasts three to seven years,” it said.
EY found that funding for such research and development has been slow to trickle to European innovators. In 2017, funding for European companies represented less than a third of that raised for American companies; fast-forward to 2018 and US companies were out-funding European ones five-to-one.
“Europe is a land of innovation in health with many start-up and SMEs looking for financing to make their innovations available to patients and to meet the medical challenges of tomorrow,” said Maryvonne Hiance, France Biotech chairman.
“The objective of the HTID is to become a reference place for exchanges between European HealthTech companies, international investors and pharmaceutical groups.”
This content is produced by Star Investing in commercial partnership with Cynata, Regeneus and MGC Pharmaceuticals. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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