Polish Association of Innovative Medical Biotechnology Companies
Polish Association of Innovative Medical Biotechnology Companies BioInMed - a New Partner on the Innovation Ecosystem Map.
Polish Association of Innovative Medical Biotechnology Companies BioInMed has joined the group of existing industry associations in Poland. The association was created by 11 companies, namely Ardigen SA, Captor Therapeutics SA, Celon Pharma SA, ExploRNA Therapeutics SA, OncoArendi Therapeutics SA, Polski Bank Komórek Macierzystych SA, PolTREG SA, Pure Biologics SA, Ryvu Therapeutics SA, Selvita SA, and WPD Pharmaceuticals Sp. z o.o. At the first General Assembly, held on October 20, 2021, Marta Winiarska was appointed as the President of the Association, who had been in charge of public affairs and public relations in the Association of Innovative Pharmaceutical Companies INFARMA for the last five years.
Biotechnology is considered the future of medicine. Today it is one of the key directions of development in the life science industry. It has made it possible to create many new drugs, vaccines and diagnostic methods which contribute to the prolongation and improvement of the quality of human life.
The Polish biotechnology market, although relatively young, is developing very dynamically. In order for Polish medical biotechnology companies to bring our country into the global bloodstream of innovation, systemic conditions are needed to develop the industry.
Foreign experiences, Israel and Taiwan as examples, show that the right scientific infrastructure and industry support for effective commercialization can make biotechnology a driving force of the economy. Therefore, Poland needs an ambitious development strategy, which will be followed by a coordinated investment of public and private funds in medical biotechnology projects.
The Polish Association of Innovative Medical Biotechnology Companies BioInMed was established in order to build an ecosystem in collaboration with all stakeholders and public administration, which will make medical biotechnology a showcase of Polish innovation and, possibly, also a driving force of the economy in the future.
"Today, Poland, which is facing demographic challenges and building its competitiveness largely based on low labor costs and specialization in agricultural products and intermediate goods, is strongly exposed to the so-called middle-income trap - that is, a long-term stagnation after years of intensive growth. To prevent this, the development of innovative sectors of the economy is necessary. Medical biotechnology, with the creation of the right conditions for responsible development, could become the engine of this transformation", emphasizes Marta Winiarska, President of BioInMed.
Unfortunately, Polish companies in this sector, despite having huge scientific potential and constantly developing portfolios of new projects, still have to work hard to convince investors to finance innovative ventures. Additionally, building a biotechnology company - particularly in Europe - is a very long and demanding business process. In order to develop such an undertaking, it is necessary, in addition to highly qualified human resources, to use various sources of financing, including grants, venture capital, partnerships, capital market opportunities, or debt instruments and government support. Only the synergy of action and cooperation of all stakeholders gives a chance of success.
"The global health crisis associated with the COVID-19 pandemic has shown that research and development in the field of medicine are key not only from the point of view of the health indicators of societies, but also of economic activity. For the first time, these relationships could be observed in such a tangible way. The pandemic situation has also caused public institutions and private investors to pay more attention to biotechnology companies that have engaged in research on vaccines, diagnostic tests, and drugs for COVID-19. In this area, a strong Polish element has also emerged. I sincerely hope that this will be a stimulus for the construction of an institutional support system that is more structured, accessible and tailored to the needs of the innovative medical biotechnology industry", emphasizes Marta Winiarska.
The Polish government seems to recognize both global trends and the necessary directions of change in our country that can provide us with an innovative advancement. Medical biotechnology has been included in the list of National Smart Specializations (KIS), i.e., priority sectors in the field of research, development and innovation, providing an increase in added value and competitiveness of the economy on foreign markets. The Polish Association of Innovative Medical Biotechnology Companies BioInMed, bringing together the unique knowledge and experience of domestic companies, wishes to support the Polish administration in carrying out the necessary systemic changes that will make medical biotechnology a showcase of Polish innovation in the long term.
