A new era of Biotechnology post-pandemic
In little ways have our lives changed through the convergence of biology and technology - from our endeavours, to the way we live and heal, especially after COVID-19.
Our headquarters had the honour to have Dr. Manuel Bauer, EY Biotech Leader Germany & Senior Industry Specialist in Life Science, to give us an insight of the latest trends, opportunities, and challenges in this rapidly evolving field.
Here is a brief summary of the report & key takeaways:
- Stability and Strength: Despite a decline compared to the strong pandemic years of 2020 and 2021, the German biotech industry remains stable and showcases its strengths in quality and innovation.
- Innovative Technology Platforms: Innovative technology platforms serve as the foundation for successful and mature product pipelines within the German biotech sector. Integration with artificial intelligence (AI), databases, and software is expected to have a significant impact on healthcare systems.
- Financing Challenges: Financing is identified as one of the crucial challenges in Germany's biotech industry. Despite available capital, there is a need to increase investment to fully leverage the value creation potential, particularly in the late-stage development of biotech products.
- Regulatory Hurdles: Alongside bureaucratic and regulatory barriers, conducting clinical trials remains a challenge within the German biotech landscape. Overcoming these hurdles is essential to foster growth and innovation.
- Mobilizing Investors: To secure Germany's position as an innovative biotech hub, it is necessary to mobilize large investors, such as German insurance companies, pension funds, and retirement funds. Their involvement and support will be crucial in unlocking the potential of the industry.
- Call to Action: The author of the German Biotechnology Report, Dr. Bauer, emphasizes the need for action in addressing the challenges and opportunities in the biotech industry, highlighting the importance of taking proactive steps to ensure a vibrant future for German biotech.
The department of Research - Knowledge - Translation - Transfer (FWT2) of the Hannover Medical School, BioRegioN and BioIntelligence, then, hosted a networking event, where scientists & biotech enthusiasts got the opportunity to exchange ideas & expand their reach. All in all, it was an exceptional evening to spend in our headquarters, filled with innovators of the biotech industry. We would like to thank everyone that organised this event and all participants!