Medical biotechnology contributing to German economic growth
The latest report on Germany's biotechnology sector by BIOCOM AG indicates that biotechnology is a key motor of German economic growth. The report entitled The German Biotechnology Sector 2017 is based on survey results from nearly 500 of the country's biotechnology firms.
The survey – which has been carried out annually for 11 years by biotechnologie.de – shows that the sector is growing constantly and had total turnovers of EUR 3.54 billion in 2016. The report goes on to note that the sector's key strength is in innovative medical biotechnology, with 49.8 percent of dedicated biotech companies involved in developing drugs or new diagnostic methods.
Despite proportion of firms working in medical biotech remaining relatively constant, says the report, turnovers increased in 2016 by 8.1 percent to EUR 2.5 billion. At the same time, R&D expenditures increased by 6.6% to EUR 911 million. The survey found that of the 306 companies involved in medical biotechnology, more than half of them were active in the preclinical stage of therapeutic research or working on developing technology platforms.
The report goes on to analyze foreign investment in the medical biotech sector in 2016. One of the deals cited is the country's largest biotech venture capital round of that year, which provided financing for iOmx Therapeutics AG. MPM Capital of the US and the French company Sofinnova Partners invested EUR 40 million in the cancer therapeutics' specialists based near Munich. Another investment was EUR 31 million provided by the Staidson Hongkong Investment Company Ltd in Inflarx GmbH of Jena.
The export initiative for the German healthcare industry, HEALTH MADE IN GERMANY, can provide additional information on the German medical biotechnology industry. In April it published a guide called HEALTH MADE IN GERMANY. The Medical Biotechnology Sector. It is available for download from the HEALTH MADE IN GERMANY website and at events the initiative holds and attends around the world.