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10 January 2019Big Pharma

Surge in life sciences investment in Catalonia: report

The number of international investors in life sciences start-ups in the Catalonia region in Spain has multiplied by ten in the last five years, according to a new report.

The report, which was published in December 2018 by Biocat, an organisation which aims to promote the healthcare and life sciences ecosystem in Catalonia, said the number of foreign investors rose from five in 2013 to 50 last year.

Biocat’s study also found that between 2015 and 2017, life sciences start-ups raised €340 million ($391.5 million), three times more than from 2013 to 2015.

In 2018, companies raised €100.2 million from January to October. Biocat predicted that the full 2018 figures will surpass the investment attracted in 2017 (€107.3 million).

In addition to specialised local investors, like HealthEquity, Inveready and Alta Life Sciences, the report stated that the significant growth in funding comes from foreign investors committing to Catalan companies in the healthcare sector.

Biocat said that 72% of all venture capital attracted by Catalan start-ups in the sector was through rounds of funding from these international investors, most of which are from the US.

Additionally, the report showed that the healthcare sector generates €31.09 billion each year.

It also said that on average, a new company in the healthcare sector is created each week in Catalonia. In total, the sector has 1,060 companies that employ nearly 58,000 workers and have a joint turnover of €17.80 billion

“As a result of the sector's evolution, in terms of social impact, Biocat estimates at least ten products and advanced technologies developed in Catalonia will reach patients by 2025,” said Biocat CEO Jordi Naval.

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