Spanish biotech firms secure €142 million in 2022
AseBio gave an advance look at these figures at an event celebrating the 20th anniversary of BIOSPAIN, two decades over which a total of €1.2 billion has been invested in the biotechnology sector
This Tuesday, AseBio organised a biobreakfast on key funding to build a biotechnology milestone, at which it shared the figures on private capital operations in celebration of BIOSPAIN 2023, which will be held from 26 to 28 September in Barcelona. This international congress, organised by AseBio with collaboration from Biocat, the Barcelona City Council and the Government of Catalonia, is celebrating its 20th anniversary as a global benchmark for Spanish biotechnology and hopes to welcome over 1,700 professionals from the sector this year.
After two years of unprecedented growth due to the pandemic, the investment secured by Spanish biotechnology stabilised in 2022. “After the huge jump in the past two years, beating all investment records, the volume secured by Spanish biotechnology companies in capital operations totalled €142 million, €15 million of which was through the CDTI INNVIERTE instrument,” shared AseBio CEO Ion Arocena. Although the data shows a drop from the previous two years, according to Arocena, “It reflects sustained growth with levels above the years prior to the outbreak of the healthcare emergency.”
This positive moment in the sector is also clear in both the new specialised funds being set up, such as Sabadell Asabys Health Innovation Investments II (SAHII 2) hoping to raise €200 million, and their ability to secure international investment. In this regard, the total for capital increase operations that included international investors was once again nearly €100 million. “The upward trend in international venture capital in the rounds is down to the fact that the start-ups and scale-ups have solid, competitive science/technology, talented teams and the pull of the specialised Spanish investors to drive co-investment in large operations, including Ysios Capital, Alta Life Sciences, Invivo Capital and Asabys,” explained Biocat CEO Robert Fabregat.
In addition to the total for private capital operations in 2022, the stock-market operations carried out by biotechnology companies stood out in 2022, with over €125 million. Plus, other instruments have consolidated their place on the scene, including crowdfunding with nearly €9 million, participation loans like the ones from ENISA with nearly €7 million and venture debt from the European Investment Bank, through which DeepUll raised €20 million.
BIOSPAIN, 20 years of biotechnology in our country
BIOSPAIN is celebrating its 20th anniversary in 2023 as a front-line witness to the development of the Spanish biotechnology industry. “In 20 years, we’ve gone from 50 companies to nearly 900; and from €17 million invested to over €140 million,” noted Arocena.
At the biobreakfast, the companies who have witnessed the sector’s success stories first-hand analysed the data.
15 years of investment in biotechnology funding
“Since we started out, we’ve seen exponential growth in the Spanish biotechnology sector, and our commitment as investors is to continue fuelling that growth and help consolidate it as one of the drivers of our country’s economic future. In this regard, it is important to keep committing to international projection and give Spanish biotechnology the tools and resources to develop its full potential,” shared Raúl Martín, partner at Ysios Capital, gold sponsor of BIOSPAIN and one of the first funds in our sector that manages over €400 million and has invested in 36 companies.
An example of a good mix of public and private investment
“Innovation in Spain is led by emerging technology companies that have a high success rate in European calls led by EIHealth and the EIC,” explained Beatriz Llamusí, founder and CEO of Arthex Biotech, a company that is a milestone for the sector in securing private capital and has received support from the CDTI INNVIERTE co-investment instrument, which has been fuelling investment in technology companies like biotech firms for a decade. “This type of grant supports and encourages private investment in high-risk companies that have an important impact on society,” she added.
Record crowdfunding
“In addition to scientific excellence, investment has been the other big driving force for Laminar’s success. Laminar has had access to every type of funding tool that currently exists,” argued Pablo V. Escribá, CEO of Laminar Pharma, sponsor of BIOSPAIN, which recently won the CEPYME award for technological innovation, and has grown thanks to funding instruments like Capital Cell crowdfunding, closing the biggest campaign ever in Spain on that platform.
“Laminar has been part of the history of biotechnology in Spain, a country that doesn’t have a tradition of investment in this sector and doesn’t have the structured interlocutors of other countries, but the evolution is really positive. One clear example of this is the success of BIOSPAIN, one of the leading congresses in Europe,” he concluded.
