BayBio Annual Conference
BERLIN AND BURLINGAME, CA, April 19 /CNW/ - 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
"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.
SOURCE Germany Trade and Invest
For further information:
Germany Trade & Invest