The global biomedical market is in the midst of a period of stable growth and Catalonia, one of the most dynamic healthcare hubs in the world, is also enjoying this trend. 2018 was a positive year for the Catalan biomedical business fabric, in terms of funding, R&D alliances and advances, and launching new drugs and medical technology.
Biomedical companies in Catalonia raised a joint total of €106 million in investment in 53 operations, up 1.9% from 2017, according to the Study on investment in the Biomedical industry in Catalonia by CataloniaBio & HealthTech and EY, presented today in Barcelona. Investments of more than €10 million made up 6% of all transactions.

While venture capital is still the main player, business angels are playing an increasingly significant role. In terms of geographic breakdown, 80% of all shareholders in Catalan biomedical companies are located in Catalonia, 13% are foreign and 7% from the rest of Spain. Investors consider the growth in number of international funds looking to invest incompanies to be the greatest success of the Catalan ecosystem.

It is worth noting the pipeline of new drugs, technology and medical devices in Catalonia over the past year, which is progressively moving into the more advanced stages of the innovation process: specifically, 40% of R&D projects conducted by Catalan pharmaceutical companies are now in the final stages of the process, a figure that is 14% higher, quantitatively, than in 2017 and, qualitatively, shows that this industry is experiencing sustained growth and bringing new medical solutions to the market. In the case of medtech, half of all products are awaiting regulatory authorisation or are already on the market (27%).
Increase in alliances and value of licenses

In 2018, biomedical companies signed 355 collaboration projects with other organisations and research and technology centres in the ecosystem. These will give rise to future innovations that will help make the sector more competitive internationally, providing more transversal medical solutions (drug-technology-digital) for unmet medical needs or to improve on current solutions.
“We’ve observed sustainable, balanced, solid growth in the sector, with very promising science and business strategies and value proposals that help attract new investors,” explains Jaume Amat, president of CataloniaBio & HealthTech and CEO of Specipig.

For her part, Dr Silvia Ondategui-Parra, Partner Global EY Life Sciences, highlights that “the Catalan biomedical sector is showing signs of very dynamic growth, with solid investment numbers and increasing collaboration among the organisations that make up the ecosystem, which is key to tackling the challenges the sector is facing on a global level, among which the digitalisation of health plays a key role.”

Proof of this can be seen in the fact that 60% of Catalan pharmaceutical groups have shares in biotech companies (44% abroad, 34% in Catalonia and 22% in the rest of Spain). This corroborates that they are more and more committed to open innovation and are seeking out stable synergies with entrepreneurs.

With regard to licensing agreements, while the total figure dropped from 32 deals in 2017 to 17 in 2018, the value per contract rose significantly, with an expected future income of €28.8 million. Plus, 54% of Catalan medtech companies have begun marketing their products in a total of 52 new markets.

New specialised investment funds

Catalonia currently has 8 investment funds that specialise in health and biomedicine. The Catalan companies in the sector carried out a total of 50 investment operations in 2018, with €9 million in committed capital and €29 million in capital paid out. These figures are lower than those for the previous year because, in 2018, the firms mainly focused on creating new funds.

By type, 62% of all operations carried out by Catalan investors in the sector involved drug discovery companies, followed by medtech firms (28%) and those specialising in digital health (10%).
Among the benchmark groups, Inveready launched its Biotech III fund with €25 million and Ysios Capital (which recently received the CataloniaBioHT Biosuccess Award for its investment capacity with a total of €191 million since 2008) is working to put together its third fund. In 2018, the Asabys Partners fund was launched with €70 million, and in early 2019 Invivo Partners was set up with another fund endowed with €40 million.


CataloniaBio & HealthTech and EY study

The Study on investment in the Biomedical industry in Catalonia published annually by CataloniaBio & HealthTech in collaboration with EY compiles the main indicators and analyses global and local trends in attracting capital, R&D advances and the future outlook for biomedical companies. It is a valuable tool for decision-making regarding future challenges. EY, a global benchmark, provides the methodology, rigour and reliability.


The study is available in digital format at: http://cataloniabioht.org/web/publicaciones/ .........

About CataloniaBio & HealthTech

CataloniaBio & HealthTech is the association of companies in the biomedicine and health arena in Catalonia. Its mission is to promote research, development and innovation (R&D&i) to help the business fabric generate new products and services in biopharmaceuticals, medical technology and digital health to improve people’s wellbeing. The association was created in 2017 through the merger of CataloniaBio and the HealthTech Cluster. It currently has 150 member companies (spin-offs, start-ups, SMEs and large corporations) and collaborating agents, including hospitals, research centres and leading universities.

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies all over the world. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organisation and may refer to one or several of the companies of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited is a UK company limited by guarantee and does not provide services to clients.

Fuente: CataloniaBio

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