EU research ministers support ‘European Life Sciences Investment Fund’
EU research ministers push for bolder action to secure Europe’s life sciences future
Yesterday (30 September), EU research ministers adopted conclusions on life sciences stressing the need for urgent action to shore up the sector's competitiveness.
Danish Minister for Higher Education and Science, Christina Egelund, said they have sent out a clear message that the EU should lead the global race for life sciences:
“To get there, we must act with urgency and determination with a coordinated strategy that turns ambition into action.”
Watch the gap
The conclusions highlight a growing concern that Europe is falling behind in turning research into real-world products and services. With “fierce” global competition, ministers stressed the need to bridge the innovation gap.
This theme was echoes in separate conclusions on the importance of the EU’s ‘Startup and Scaleup Strategy’ which called on the EU to identify means to reinforce the exploitation of EU research results, and welcomed Commission plans to develop a blueprint for licensing, royalty- and revenue- sharing whether through equity sharing, or through commercialization of intellectual property.
A European Life Sciences Investment Fund?
Although cautious about preempting future funding decisions, ministers nevertheless “invited” the Commission to explore the feasibility of a possible European Life Sciences Investment Fund, in order to leverage private investment.
The European’s largest pharmaceutical association, EFPIA, has already floated the idea of a €1 billion guarantee fund to help encourage private investment into the life science investment pool.
Clinical trials
Europe’s role in global clinical trials is losing more ground to the US and increasingly China, ministers warned that the EU must act now. They urged the Commission to present a comprehensive investment plan for clinical research by end of 2025, with clear milestones. The plan should maximize existing expertise and strengthen multi-country, multi-centre trials.
Ministers addressed the issue of clinical trials, saying that the Union urgently needs to tackle the multifactorial issues of a declining worldwide share and reduced impact of clinical trials carried out in the EU.
The conclusions “urge” the Commission to propose their investment plan for clinical research before the end of 2025.
Advanced therapies
On advanced therapy medicinal products (ATMPs), ministers welcomed the initiative to create a network of European Centres of Excellence, building on existing European and national networks and projects. In addition, to this initiative there was a call for the Commission to assess measures to improve affordability of these therapies.
Sandboxes
Ministers pushed for faster implementation of regulatory sandboxes — controlled environments where innovators and regulators can collaborate. Particularly vital for MedTech, sandboxes are seen as a way to avoid stifling innovation through heavy-handed rules. Ministers have asked the Commisison to provide a clearer methodology and a more rapid pathway for implementation.