In Opinion leading life science professionals from the Medicon Valley community express their opinion about the industry and the current situation in the region.

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The Dawn of an Infrastructure for Biotech Innovation

by Morten Mølgaard Jensen, Chief Operating Officer, Symbion Science Park and Director, Copenhagen Bio Science Park (09.10.2008)

We all know it, we all live it: biotech can be a rollercoaster experience with the thrills and chills to match the scariest real roller coasters in the world. Many investors and industry experts have seen the rise and fall of some of the most promising companies in Medicon Valley. Others however have succeeded in these troublesome times growing their companies, attracting new funding or launching new collaborations or promising research.

It makes you think - is there a hidden formula for success in tough times?

In Symbion, we have followed, nurtured, financed and housed many of the Danish biotech startups springing into life over the last 20 years. And experience tells us that the ability to adapt swiftly to new market conditions seems to be the most important component in growing a long term sustainable biotech company.

Still a Great Need for Biotech Innovation

According to Plunkett Research, prescription drug purchases in the U.S. totaled about $229 billion during 2007. The total is up from a mere $40 billion in 1990. In 2016, government estimates show that American drug purchases may reach $497 billion, thanks to a rapidly aging U.S. population, inflation and the continued introduction of expensive new drugs. And we see the same demographic challenges in Europe.

With more than a double up in demand, you should think there are still roles to play for those who supply.

However, the challenge to innovate in biotech - and not only in the labs but more so in the Board room - is not an easy one. With funds running out and a risk adverse international venture market we have to look for new ideas. Biotech innovation may be difficult - especially due to rapid technological change - but this does not mean that the structures and conditions that do affect innovation and growth should be ignored.

Giving Life to Science

In my opinion, Medicon Valley holds the key to unlock future growth. The successful attributes associated with standing amongst peers of world-class bioclusters are available here: talent, science, capital, and location.

The Medicon Valley is home to over 40,000 people employed in the private life science sector, over 225 biotech, pharma and medtech companies with own R&D, an additional 370 affiliates of international life science companies , and more than 80 service companies (CRO's and CMO's). As the life science industry has matured in the region, many executives have developed hands-on entrepreneurial, clinical development, and business expertise.

But we still need to innovate our business models. Life science research is yielding groundbreaking innovations and the pace of discovery is rapidly accelerating. And with these innovations come opportunities to improve both length and quality of life.

An Infrastructure to Support Innovation

Together with Scion DTU and Incuba, Symbion Science Park is building a brand new biotech science park named COBIS. COBIS is not just a place to work, it's an environment dedicated to enhance the chance of success of those who join. We do this by optimizing the infrastructure for new biotech startups, giving them access to facilities, specialized services, network and funding, i.e. a platform for innovation.

Simultaneously, we have been working on developing a new model of incubating biotech. An incubation model that will help venture funds in picking the best of the best, accelerating the pace to reach proof-of-concept and provide small biotech companies with a road map to develop their businesses in the most effective way.

If this is the hidden formula for biotech success in tough times, only time will tell, but we will not be blamed for not trying to bring life back to science.

 

Morten Mølgaard Jensen Chief Operating Officer, Symbion Science Park and Director, Copenhagen Bio Science Park

Symbion is the largest science park in Denmark. Symbion creates the framework for a dynamic environment where research meets with trade and commerce. Their mission is to help commercializing innovative and high tech projects in the fields of biotech, pharma, medico, IT, and telecommunication. Read more at www.symbion.dk or phone +45 39 17 99 99.

Copenhagen Bio Science Park (COBIS) is a new biotechnological research park in Copenhagen. Read more at www.cobis.dk.

 

The content presented in Opinion is entirely a product of the author's attitude and postures. Medicon Valley Alliance cannot be held responsible for the content.