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EF: What was the need for creating BioInMed?
MW Poland has a long tradition of producing generic drugs. In turn, the Polish innovative medical biotechnology sector was established about 20 years ago. It is a young, but very rapidly developing sector. The creation of BioInMed happened at a time when the market had already reached sufficient maturity and the number of companies dealing with drug discovery projects ensured that a critical mass was achieved. In Poland, biotechnology companies are working on R&D projects in the area of biological drugs, small molecule drugs and advanced therapy medicinal products (ATMP) in various therapeutic areas.
The financial barrier to entering the biotechnology sector is high, and 20 years ago, we did not have European Union funds or grants to support innovative companies. The only companies that existed during those days were those established by founders who used their own money to invest in biotech projects.
When the European Union funds came to Poland, more entrepreneurs started exploring the biotech sector and founding companies. As these companies matured, they began to attract external investors and foreign partners. They became mature enough to engage not only in their own R&D projects but also in building an external ecosystem, which would be favorable for the industry. BioInMed was established during this time.
EF: Could you elaborate on the footprint of the Biotechnology space in Poland?
MW: Some biotechnology companies arose as a response to the COVID pandemic. However, different types of biotechnology companies should be distinguished - they include innovative companies conducting R&D projects in the area of developing new drugs with their own pipelines, but also companies involved in drug discovery on request, companies developing technologies supporting R&D processes in the area of drug discovery, as well as service companies, diagnostic laboratories that provide biotechnology-based services, companies working on the so-called generics+, where the level of investment in R&D is not so high. If we include them, the number would be about 200 biotech companies.
EF: Could you elaborate on the priorities for BioInmed?
MW: BioInMed has five pillars of strategy that it is currently focusing on.
The first is visibility and credibility. We want to show the Polish decision-makers that the innovative part of medical biotechnology is the sector that is important for the economy and the future of patients. Medical biotechnology will show Poland to be an innovative country with its own technologies.
The second pillar revolves around public funding for the biotech sector. It is about grants devoted to R&D projects for drug discovery and development. The life science industry is quite specific, and drug discovery and drug development are even more specific, so we want to teach our decision-makers and institutions about the biotech business model and how these types of projects are conducted. Only properly aware decision-makers are able to adjust sector support tools and incentives - financial and non-financial - so that they actually have an impact on the development of the industry and the effective conduct of drug discovery and development projects.
The third pillar is about the education of investors. It is important to educate regarding which factors are important when understanding the performance and advances of biotechnology companies. Information such as clinical and scientific data for people unrelated to the sector is sophisticated to understand. As an organization, we want to raise awareness of investing and diversifying investors' portfolios with projects from the sector. Under this pillar, we also promote the Polish biotechnology sector internationally - showing domestic companies as valuable partners for foreign investors and business partners.
The fourth pillar concerns having the right team and locations to conduct R&D projects. In Poland, we have a long tradition of life sciences at universities, but unfortunately, academic entities lack commercialization know-how. Building a comprehensive curriculum that includes business skills is part of our points of order. In autumn 2024, we will open a joint faculty of applied biosciences at Coventry University's satellite campus in Poland.
In our fifth pillar, we focus on stable and predictable law, among others, in the fields of intellectual property, clinical trials, and animal testing, as well as other regulations and provisions relevant to the biotechnology sector.
EF: What initiatives are BioInMed currently working on with its members or other entities?
MW: A new pool of EU funds under the so-called SMART path came to Poland in February 2023, and then there was a first call for innovative companies from different sectors to submit their R&D projects. The National Center for Research and Development and The Polish Agency for the Development of Entrepreneurship are involved in the distribution of these funds. We need to ensure they understand how R&D projects should be conducted in the life sciences, drug discovery, and drug development industries. In particular, the Agency has been more focused on supporting marketing, business, and operations from a different perspective over the years and it is already clear that, unfortunately, drug discovery projects with their specificity are incomprehensible for this entity and project evaluations due to the lack of understanding of this specificity are detrimental to the sector.
We are now focused on the dialogue with decision-makers and our Ministry of Funds and Regional Development. We proposed to bring some workshops and scholarships for the experts and officers of these institutions to help them understand this type of sector - how new drugs are developed, and what the business model is. This is our important project for 2024. We hope that the new management of the ministry will engage in dialogue with us on this matter to develop optimal solutions for the development of the sector and improve the innovativeness of the Polish economy.
The first round of grants was a wake-up call for us. Many projects that were good from the scientific and business perspective were not understandable to the experts at this institution. One institution (The National Center for Research and Development) is responsible for grant calls for big companies and consortiums, and another (The Polish Agency for the Development of Entrepreneurship) is responsible for calls from SMEs. These two institutions have different interpretations of the same regulations, and we need to do something to bring the best practices from one institution to another. We also need to ensure that they understand the specificity of the industry.
We are also planning to work on international promotion in 2024. Last year, we were inter alia at the Bio International Convention in the United States. BioInmed and the Polish Agency of Trade and Investment were responsible for the networking event for the Polish sector. We brought some investors, scientists and companies from the United States and also cooperated on this event with the European Commission.
We have already started talks with the Polish Agency of Trade and Investment about three of next year's events: Bio Spring, Bio Europe, and the Bio International Convention in San Diego. We hope that it will be possible to organize a national stand and a networking meeting at one or more of these events. We are also planning a networking event in Denmark and the participation of a BioInMed representative as a keynote speaker during The London Biotechnology Show.
EF: What strategies do you think can be put into place to shift Poland to be a major international partner?
MW: I have worked with innovation throughout various industries for quite some time. I worked with Polish start-ups, including those from the gaming and fintech sectors ten years ago. The Polish gaming industry was quite young and unknown and investors on the Stock Exchange did not want to invest. People who suggested that gaming companies should be marketed at foreign trade fairs and supported by decision-makers were poorly taken into account. The doubters would recommend we market our apples, potatoes, and furniture instead. They were reluctant to engage with this innovative sector. This is organic development that takes place step by step. Today, the Polish gaming sector is a showcase of Polish innovation and is known internationally.
BioInMed needs to work harder to encourage evolution and onboard our decision-makers and public institutions. Polish politicians and decision-makers should be involved in promoting the innovative medical biotechnology sector abroad. Information about this industry should be included, for example, in the economic brief of the President, Prime Minister, Minister of Health, Minister of Foreign Affairs or other representatives of Poland. This promotion is extremely important because it builds awareness of Poland as an important partner. Unfortunately, when you look at the McKinsey report on the biotech sector in Europe, Poland lacks projects in drug discovery and development. Why? Not because they aren't here. These projects exist, but they are not visible or discussed by people in positions of influence.
Our role is to be present in as many places, publications, and talks as possible. BioInMed alone does not have enough people to raise this kind of awareness. We need to acquire and educate ambassadors of the Polish biotech sector, and these ambassadors should come from the expert environment and the public sector. We should raise awareness that Poland can be a partner with something to offer in drug discovery and the drug development value chain. I am sure that we should work together - both in terms of grant support for R&D projects in this sector and international promotion, and we will start to see a big change in a few years.
EF: Where do you see this association and the sector in five years?
MW: I hope we will have the first innovative drug ready in five years. BioInMed member companies should also be more present in the country and the European landscape. New drug discovery companies will certainly emerge as the growing ecosystem creates opportunities for this. I also want them to be close to American institutions that are responsible for the drug discovery and drug development sectors.
We are still working on educating our Polish decision-makers. With the first innovative drug, they will finally believe that the sector is the future of our economy. This will be a real breakthrough.
