19.04.2011 – 18:00
Investors Flock to German Medical Biotech Industry
BayBio Annual Conference
Germany is setting the bar in biotechnology and investors from all over the world are taking notice. Venture capital investments doubled from 2009 to 2010 to over $420 million. Industry revenues continue to grow, according to a new industry survey available Thursday. The growing importance of medical biotechnology has already led to industry clusters that are drawing companies to Germany. Germany Trade & Invest will be at this year's BayBio Annual Conference in Burlingame, California, from April 20-21 to inform companies of new business opportunities in Germany.
With an aging society and rising healthcare costs, Germany's medical biotechnology segment is addressing these challenges with innovation and rapid commercialization. Biopharmaceuticals already comprise over 16 percent of total pharmaceutical sales in Germany.
"Medical biotechnology is taking Germany's long tradition of healthcare innovation one step further. Biopharmaceuticals have already established themselves in the marketplace and we see a great deal of potential in fields like personalized medicine," states Gabriel Flemming, Senior Manager for Medical Biotechnology at Germany Trade & Invest in Berlin.
Medical biotechnology industry clusters have developed organically in several regions of Germany. Federal and state initiatives are simultaneously promoting cooperation among players in various regions. The Munich Biotech Cluster, for example, has over 350 life science companies and was recently awarded a federal grant worth more than $50 million to further support collaboration among companies, research institutes and other stakeholders. Cluster member MorphoSys AG recently signed an agreement with US-based ContraFect Corp. to cooperate on the discovery and development of therapeutic antibodies for infectious diseases.
"These industry clusters are fertile ground for new business opportunities. International industry players can access one of the world's largest, most attractive markets and benefit from established networks and shared costs. Top researchers and international companies are able to work together to innovate and bring new products quickly to market," continues Flemming.
Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.
Germany Trade & Invest
T: +49(0)30 200099-173
F: +49(0)30 200099-111
Original content of: Germany Trade & Invest, transmitted by news aktuell