InnoBio Launch: investment in biotechnology
Release Date: 2009-10-27
The forth meeting of the CSIS (Conseil stratégique des industries de santé) marked a significant step for government policy in supporting biotechnology in France. Not only was it decided that an investment fund of up to 140 million euros would be dedicated to developing the sector, it was the President of the Republic himself, Nicholas Sarkozy, who announced it.
The fund, known as InnoBio, will come from the FSI (Fonds stratégique d'investissement), who will begin by contributing 52 millions and have appointed Laurent Arthaud to oversee its direction.
Other significant breakthroughs form the meeting included the possibility of opening the funds of the biotech subsidiary of LFB (Le Laboratoire français du Fractionnement et des Biotechnologies) which had up to this point been entirely retained by the state.
A distinct mix of private and public sector figureheads were present at the meeting, including the ministers Christine Lagarde, Valérie Pécresse and Roselyne Bachelot alongside captain of the industry Jean-Luc Bélingard, President of Ipsen. Acting as a spokesperson for the G5, he was delighted at this flurry of state support for pharmaceuticals and their place as a strategic sector for France.
Lastly, and crucially for French biotech companies, the positive tone of the CSIS gathering was emphasised specifically by Sarkozy’s words: “it would be a waste not to exploit the potential of the hundreds of biotech SMEs in France”.
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| Url: | http://pharmactuposition.blogspot.com/2009/10/innobio-fonds-investissement.html |