European Union unveils fresh strategy for life sciences sector
European Commission Unveils Strategy to Make EU a Global Life Sciences Leader
The European Commission has announced a comprehensive strategy to position the EU as a global leader in life sciences by 2030. The strategy, centred on three key proposals, aims to optimise the research and innovation (R&I) ecosystem, enable rapid market access, and boost trust, uptake, and use of innovation.
Optimising the R&I Ecosystem
To achieve this, the Commission will develop an EU investment plan to fund multi-country clinical trials and reinforce European clinical research infrastructures. The plan includes mobilising significant funds from Horizon Europe, with €100 million allocated for microbiome solutions and €250 million for cross-sectoral life sciences technologies. Moreover, the Commission will promote a One Health approach that integrates human, animal, and environmental health research.
Enabling Rapid Market Access
The strategy also proposes the introduction of an EU Biotech Act aimed at creating a more innovation-friendly regulatory framework across the biotech sectors. This act is expected to help novel biotech products reach the market faster. Additionally, the Commission plans to launch a matchmaking platform to connect startups, industry, and investors, leveraging existing European Innovation Council networks.
Boosting Trust and Uptake
To boost trust and uptake, the Commission plans to mobilise €300 million to support procurement of life science innovations targeting climate change, next-generation vaccines, and affordable cancer treatments. The Commission will also establish a Life Science Coordination Group to align policies and funding and improve stakeholder engagement, including industry and citizens.
The strategy includes a coordinated approach with an annual EU budget exceeding €10 billion from various funding programs such as Horizon Europe and EU4Health. This approach covers the entire life sciences value chain, extending beyond pharmaceuticals to include food, agricultural, and industrial biotechnology.
A Growing Sector
Life sciences R&D in the EU almost doubled between 2012 and 2022, employing around 29 million people and generating €1.5 trillion, nearly 10% of the EU's GDP. The EU ranks second globally for patenting in the pharmaceutical and medical technologies (PMT) with an 18% share.
The Commission's strategy comes at a time when the UK government has set out its strategic approach for the life sciences sector, with a goal to become Europe's leading life sciences economy by 2030. The Commission is proposing revisions in public procurement rules and an upcoming European Innovation Act to help innovative companies find first customers and enter the public procurement market.
The Commission is also acknowledging the intensifying scrutiny on EU health regulations and discussing new legislative changes across health technologies. The strategy discusses the new wave of legislative changes, including the piloting of new tools like coordinated assessments for combined studies and digital, AI-powered regulatory navigators.
References:
[1] European Commission. (2023). Communication from the Commission on the EU Strategy for the Life Sciences.
[2] European Commission. (2023). Press release: EU Strategy for the Life Sciences: Unleashing the potential of life sciences innovations.
[3] European Commission. (2023). Factsheet: EU Strategy for the Life Sciences.
[4] European Commission. (2023). Q&A: EU Strategy for the Life Sciences.
By integrating life sciences ventures into the EU Innovation Council networks' matchmaking platform, the Commission aims to attract venture capital for promising startups in the sector.
The strategy aims to strengthen medical-condition research by addressing public procurement barriers, allowing EU institutions to invest in health-and-wellness innovations that combat climate change, medical-conditions, and affordability concerns.
