Biotech in the new eu member states: some states develop faster than others

Online, December 9, 2009 (Newswire.com) - BIOTECH IN THE NEW EU MEMBER STATES: SOME STATES DEVELOP FASTER THAN OTHERS

Zurich / Brussels, November 2009: Hungary, Poland and the Czech Republic lead their peers in development of health biotechnology according to the newest Report "Biotech in the new EU Member States: an emerging sector". Over 260 companies were analyzed in 14 countries and the compiled data has been published in the most comprehensive report available for the region. A development capacity index, based on quantitative as well as qualitative factors, was created to facilitate comparisons between countries.
Varying levels of government support and commitment, as well as disparity in existing infrastructure and financing, contribute to an unevenly emerging biotechnology sector in the 12 new member states as well as Turkey and Croatia. While the industry is in its infancy in some of the countries others, such as Hungary, Poland and the Czech Republic have already developed a solid base to build on.
260 Biotechnology companies were identified, concentrated mostly in Hungary, Poland and the Czech Republic. Over 65% of these companies operate as services firms, around 10% focus on developing human therapeutic products and the rest engage in other areas of biotechnology such as development of veterinary or cosmetic products. The overwhelming majority of these companies are SMEs with less than 250 employees, almost half operating as small enterprises with less than 50 employees and over a third operating as micro enterprises with less than 10 employees.
An in depth analysis of the underlying factors that contribute to the growth of a biotechnology sector found that while most of the countries have access to a highly skilled and educated workforce, many lack adequate financial resources or have limited collaboration between academia and industry. These factors, among others, were weighed and assessed for each country and specific policy recommendations were formulated after key stakeholder meetings in Budapest, Vilnius and Prague. Local associations and interest groups are expected to use the results to lobby for further government support and favourable conditions for the industry.
The report and country specific databases that will be maintained by Venture Valuation are also an excellent promotional tool for the regions companies when attracting investors or potential partners.

EuropaBio
EuropaBio, the European Association for Bioindustries, was created in 1996 to provide a voice for the biotechnology industry at the EU level. The association's mission is to promote an innovative and dynamic biotechnology-based industry in Europe. (www.europabio.org)

Venture Valuation AG
Venture Valuation specializes in independent assessment and valuation of companies in high-growth markets, such as biotechnology and medical technology. The company also provides the global Biotechnology Database (www.biotechgate.com) and over 25 country databases for clients around the world. (www.venturevaluation.com)

About the Indecs-H/14allbio project
The purpose of the InDeCS-H/14allbio project is to provide a picture of biotech development in the 14 newest EU Member States and candidate countries, as well as improving the visibility of biotech companies for networking and investment opportunities. The final report highlights the status and growth potential for healthcare biotech SMEs in this region. www.14allbio.eu

###

The report "Biotech in the new EU Member States: an emerging sector" is available at:
http://www.biotechgate.com/gate/info/reports.php
Policy recommendations based on the report are available at:
http://www.14allbio.eu/documents/Policyrecommendations.pdf
For further information please contact:
Venture Valuation - Kasia Galecka E-mail: k.galecka@venturevaluation.com
EuropaBio - Jasmiina Laurmaa Email: j.laurmaa@europabio.org