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European Commission Stresses Importance of IP in Communication on Boosting Biotechnology and Biomanufacturing

Post Time:2024-04-07 Source:europa.eu Author: Views:

The European Commission (EC) recently proposed a series of targeted actions to boost biotechnology and biomanufacturing in the EU. TheCommunication onBuilding the future with natureidentifies current challenges and barriers. It also suggests a series of actions to address them, in line with theCommunication on the long-term competitiveness of the EU.

Biotechnologies can contribute to a more competitive and resilient EU that provides better healthcare to its citizens and succeeds in its green and digital transitions. However, despite being considered one of the most promising technological areas of this century, the EU biotechnology and biomanufacturing sector is facing several challenges: research and technology transfer to the market, regulatory complexity, access to finance, skills, value chain obstacles, intellectual property, public acceptance and economic security.

Aiming to tackle these challenges and unlock the full benefits of biotechnologies and biomanufacturing in the EU, the EC has put forward a set of actions such as:

-Leveraging research and boosting innovation

-Stimulating market demand

-Streamlining regulatory pathways

-Fostering public and private investments

-Strengthening biotech-related skills

-Fostering engagement and international cooperation

The Communication also highlights intellectual property as a critical asset, especially for emerging biotech companies to secure financing, and pleads for a "more integrated approach to the technology transfer process in the Member States" to accelerate and facilitate the transfer of novel technologies and inventions from "lab to fab".