The international biotechnology industry has done extremely well for the better part of the last 2 years. In fact, public companies saw double-digit revenue growth as well as a large increase in funds raised. But a good majority of the industry’s growth was led by a pretty small group of commercial stage companies, growing the urgency for other companies to begin seeing more efficiency in their development efforts. This, along with other findings were seen in Beyond Borders: unlocking value, EY’s 28th annual biotechnology industry report.
EY’s Global Life Sciences Leader, Glen Giovannetti, states that “the biotechnology industry, particularly in the US, is in the midst of a remarkable resurgence. Product successes have boosted revenues, drawn investors and motivated large companies to invest strongly in R&D. But the vast majority of firms continue to face a resource-constrained environment and heightened product scrutiny from payers and investors. More than ever, biotech companies of all sizes need to adopt strategies to capture more value from the discovery and development process.”
Here are some of the most notable findings in the report:
-The global biotechnology industry includes about 4,700 companies with total revenue of about $120 billion.
-R&D spending bounced quickly and was driven mostly by an increase in spending in the United States. Another important element is that biotech companies in North America and Europe accumulated more than $31.6 billion compared to the $28.7 billion the year before. Although big companies have been benefiting from these results, small cap companies are also seeing benefits.
Vycor Medical’s ViewSite™ Surgical Access Systems (VBAS) is a suite of devices that could lead to more efficient and economically friendly surgeries. VBAS is made to make the best of neurosurgical site access, reduce the danger, quicken recovery and add more value to the professional medical community. NovaVision gives computer-based rehabilitation aimed at a very unaddressed market of people who have become blind because of strokes or brain injuries.
In November, the company launched its European version of its Internet-delivered NovaVision Therapy Suite at the 3rd European Congress of NeuroRehabilitation (ECNR) in Vienna, Austria. Adrian Liddell, chairman of Vycor Medical Inc (OTCMKTS:VYCO), had this to say: “The launch of our Internet-delivered Therapy Suite in Europe enables us to offer the most comprehensive and affordable therapy solution available today to patients and physicians out of our offices in Magdeburg, Germany and Aberdeen, UK. Our scalable Vision Therapy Suite targets a multi-billion dollar market opportunity in Europe, where it can help the large number people who suffer vision related disorders following a stroke or brain injury. We are delighted to be able to launch the European Therapy Suite at this important congress attended by Professors Zihl and Sahraie, who have been instrumental in its development.”