Mayer Schrieber, CEO of Discovery Park, looks at the current situation of Life Sciences and forecasts what steps need to be taken in 2023 to move the sector forward.
Key insights:
- Genesis 2022 London conference showed a decline in biologics innovation, a steep drop in IPO financing and described the biopharma market as ‘still in the dumps’.
- Discovery Park aims to grow its Incubation Hub - wet labs and workspace facilities for start ups - as a major focus area in 2023.
- Building new relationships and collaborating will allow research to move out of academia and into clinics - ultimately creating effective treatments for the people who need them.
The last 12 months have been challenging on every front, from Covid recovery and soaring energy prices to the slump in investment in Life Sciences, while the Government’s decision on R&D tax credits has been the most recent blow to a sector whose huge potential is being thwarted by a shortage of lab space and a lack of funding.