Funding SMEs key to biotech sector

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Related tags: Economics

Lack of financing for innovative small and medium enterprises is holding back the biotech sector in the EU, according to EuropaBio, which has hosted a day of meetings with EU decision-makers.

Following the event yesterday, at which 22 biotech firms were present, Tom Saylor, chair of EuropaBio’s SME Platform and CEO of Arecor, said: “Biotech SME’s provide a growing source of innovation both for larger enterprises and the health economy in general. But the ability to build a biotech industry in Europe is seriously hampered by a lack of finance which has been recently exacerbated by global economic instability.

The SME Platform intends to work closely with national biotechnology associations and other stakeholders to realise Europe’s potential as a global leader in biotechnology.”

The event, called Brussels Day, is held to bring together the collective experience of biotech executives throughout Europe, and to communicate their priorities to EU regulators.

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