At a joint meeting of the European Parliament’s Committees on Public Health and Industry on Thursday 19 March, the European Commissioner for Health, Olivér Várhelyi, stressed the central importance of investment in the biotechnology sector in Europe. In his view, Europe suffers from a chronic lack of risk-taking in this area, despite growing twice as fast as the rest of the economy. European investors, including institutional investors, remain insufficiently committed to this strategic sector, he felt.
In response, the Commission is not limiting itself to regulatory measures. It has already launched a €10 billion pilot project (for 2026 and 2027) as part of the Biotech Act, without waiting for the EU’s next Multiannual Financial Framework (MFF) for the period 2028-2034. This scheme is intended to serve as a model for subsequent expansion, inspired by US funding mechanisms.
The European Investment Bank (EIB) will play a key role in this scheme, helping to reduce the risk perceived by the markets and encouraging commercial banks and institutional investors to increase their commitments.
Eventually, this scheme should be supplemented by other European funding: €19 billion under the Horizon Europe programme and €22.6 billion devoted to biotechnology and health under the European Competitiveness Fund.
Olivér Várhelyi also highlighted the economic incentives provided by the Biotech Act, in particular the “12-month extension of the supplementary protection certificate”. (Original version in French by Lionel Changeur)