#BIOSPAIN2023Interview | "The biotechnology sector is in full expansion"

The AseBio 2022 Report reveals that, after two years of unprecedented growth as a result of the COVID-19 pandemic, investment attracted by biotechnology in Spain has stabilized at 142 million euros. Although these figures reflect a decline compared to previous years, they show sustained growth levels surpassing those before the health crisis.

Investment in R&D by biotechnology companies in Spain grew by 16% in 2022, reaching 1.038 billion euros, according to the Report. In 2021, the impact of 'biotech' on GDP reached 11.183 billion euros, accounting for 1% of GDP.

Investment is one of the fundamental pillars for turning ideas into tangible benefits for society. Biotechnology companies are known for developing disruptive innovations with a significant impact on society and the planet. These 'biotech' companies operate in highly regulated and complex markets that define biotechnological innovations through long cycles, the need for substantial investment volumes, and high risk.

The current landscape highlights that the majority of the business fabric in the biotechnology sector in Spain is composed of small and micro-companies that do not have products in the market, thus not generating the necessary resources to finance their activities. This is why access to external financing is crucial for the development of the biotechnology ecosystem.

In light of this scenario, the focus is on BIOSPAIN, an international benchmark event for the biotechnology sector organized by AseBio, celebrating its twentieth anniversary in 2023. BIOSPAIN stands as the epicenter of the latest trends in areas such as healthcare, agri-food, industrial transformation, or the green transition, among others. It is a meeting point where more than 1,700 attendees from around 850 entities from over 30 countries will gather.

BIOSPAIN also positions itself as a unique opportunity to connect with over 70 investors, thus enabling the cycle of disruptive biotechnological innovations, as discussed earlier, and which we analyze in conversation with Arturo Urrios of Wellington Partners.

AseBio. What is Wellington Partners?

Arturo Urrios. Wellington Partners is a leading European venture capital firm in the fields of healthcare and life sciences, based in Munich. We invest in biotechnology, medical devices, diagnostics, and digital health, primarily in Series Seed/A/B rounds with an initial ticket size of 5-10 million euros.

AseBio. Your business model goes far beyond providing funds, and you provide comprehensive support at all stages of a company's growth. What does this approach mean for companies and the development of their innovations?

Arturo Urrios. Companies need financial resources to grow and develop ideas, but it is people and teams that turn great ideas into great successes. Providing funding is the most visible part of our work, but it is only a small part of our activity. Our role is to offer strategic support to teams, attract talent, accelerate pre-clinical and clinical development, assist in organizing funding rounds, and successfully drive entry into international markets.

AseBio. How do you assess the investment situation in the biotechnology sector in Spain?

Arturo Urrios. The biotechnology sector is in full expansion. There is good science, reputable local funds, and various recent business success stories.

AseBio. If we compare it to the situation in other European countries, where do we stand?

Arturo Urrios. It is a diamond in the rough with great potential. However, it is a sector that started to flourish much later than in other European countries, where they have more than 20 years of an advantage in accumulating success stories. This means that product development in other European countries is faster, and they attract more international capital and talent to develop and bring products to market.

AseBio. What are the advantages for investors of participating in an event as significant as BIOSPAIN?

Arturo Urrios. It is a key event for establishing relationships with local industry professionals, discovering talent, and exploring synergies.

AseBio. And for companies?

Arturo Urrios. Generating visibility and international projection and establishing new connections.

AseBio. What do you expect from your participation in BIOSPAIN 2023?

Arturo Urrios. It is a great opportunity to reconnect with old friends and be part of the success story of the biotechnology companies of tomorrow.