Catalan biomedical sector achieves record 153 million euros in investments in 2016

Catalonia’s biomedical sector attracted a record 153.1 million euros in investments in 2016, according to a recent study by CataloniaBio and Ernst & Young (EY).

The report found that throughout 2016 investment was raised through 50 financial operations from various sources, with 82% of the investment capital coming from Catalan financiers. International investors now control 12% of shares of the companies surveyed, while Spain controls 6%.

Entitled ‘Study on the investment in biomedicine in Catalonia 2017: Acheivements and future challenges,’ the study  “aims to paint an accurate picture of the investment landscape in Catalonia in order to measure and compare it in the coming years,” according to CatalanBio. Data was collected from 200 different biomedical companies.

This is the first time a report such as this has analyzed private investment within the sector. Ignasi Biosca, president of CatalanBio and CEO of Reig Jofre, explained that in the coming two years, more than 50% of companies within the biomedicine sector will have to carry out new rounds of financing so that investors “will have an opportunity to invest in this sector.”

95% of the companies attracting the majority of investments tend to be product development companies, while only 5% are service companies.

The study also highlighted the growing interest of pharmaceutical companies to invest in the sector, finding that 60% of pharmaceutical companies have shares in biotechnology companies, 45% of which are located in Catalonia.