Study: Polish biotechs prepared to grow
Kraków – The Polish biotechnology market has been shrinking in the last two years, according to a report just released by the Kraków-based consultancy PMR. Polish biotech industry sales fell by 2% in 2008 to PLN607m (EUR173m) compared to the year before, according to “Biotechnological innovations in the pharmaceutical industry”. But innovative projects that are currently in the start-up phase, says the report, could make Poland a growth cluster soon, with annual growth rates of up to 30% by 2011. “In our opinion, despite the lamentable global economic situation, Poland has a chance to develop a real biotechnological industry in the short term,” said the authors of the study, pointing out that EU funds such as the “Innovative Economy Operational Programme” have created new financial resources for R&D worth EUR120m that will pay off soon for Polish companies active in the field of red biotech. The report describes the top institutes as well as the young biotechs driving the positive expectations, among them Celther (stem-cell therapy), Celon Pharma (siRNA-based therapy), Mabion (modified monoclonal antibody therapy), Euroimplant (tissue engineering and regenerative medicine) and Biocontract (vaccines for skin and kidney cancer).