Belgium calls for biotech coalition to support EU Biotech Act 2025

The Flanders Institute of Biotechnology (VIB) has called for a coalition of EU member states to support the upcoming Biotech Act, set for 2025. This initiative comes as the EU aims to enhance its biotech sector, which has been lagging behind the US in venture capital investments, resulting in fewer start-ups. The funding gap is significant, with Europe facing a shortfall five times that of the US, making it increasingly difficult for biotech firms to secure necessary development capital for clinical trials. Moreover, the regulatory landscape in Europe poses additional challenges, with the European Medicines Agency (EMA) taking significantly longer to approve new therapies compared to the FDA. This delay can add an average of 500 days to the approval process, which hampers innovation and the timely delivery of treatments to patients. As a result, successful biotech companies often seek markets outside Europe, leading to a loss of economic benefits that should remain within the continent. Belgium has established a robust biotechnology ecosystem over the past three decades, which serves as a model for the proposed Biotech Union. The coalition could potentially include countries like the Netherlands, France, Denmark, and Sweden, all of which have strong biotech sectors. This collaboration aims to create a cohesive financial ecosystem that supports the ambitions of Europe’s biotech industry. The call for a biotech coalition reflects a growing recognition of the need for a unified approach to overcome funding and regulatory hurdles, ultimately fostering a competitive European economy and ensuring that innovations benefit the region.