Estonia’s ambitious plans to grow its biotech industry

June 22, 2022

The Baltic state of Estonia, which claims to be the world’s first truly digital nation, has now set its sights on creating a robust biotechnology startup ecosystem. The biotech industry is expected to grow tenfold this decade and offers significant opportunities for Estonian companies.

Estonia has created 10 unicorns, companies that were valued at a billion dollars before entering the stock market, with the goal of 25 unicorns by 2025, according to Andres Sutt, Estonia's minister of entrepreneurship and information technology.

Sutt, who also serves as acting minister of foreign affairs, spoke with ScienceBoard.net at the 2022 Biotechnology Innovation Organization (BIO) International Convention in San Diego about the country's ambitious plans to grow its biotech industry.

Currently, Sutt said Estonia is home to more than 120 biotech companies, with many of them "clustered" around Estonian universities. Sutt sees the potential for partnerships between the nation's homegrown companies and the large international biotech leaders.

"Estonia is not the land of Pfizers, because we don't have many big companies. But we are certainly a land of biotechs," Sutt said. "There are lots of smaller, innovative companies and if they come and team up with the big names, this is where I think innovation and science works."

Coinciding with the BIO 2022 convention, Sutt spent time with potential investors in San Francisco, one of the world's largest biotech hubs, to "forge relationships with American counterparts."

Watch the video below to learn more.


Using the power of plants to develop novel biopharmaceuticals
Biologics manufacturing company iBio is using plants as bioreactors to develop and manufacture therapeutics and vaccines. ScienceBoard.net spoke...
Fauna Bio leverages animal genomics, hibernation biology to target human diseases
Biotech company Fauna Bio is leveraging animal genomics and hibernation biology to develop novel translational therapeutics for disease prevention and...
Overcoming the challenges of off-the-shelf allogeneic cell therapies
Chimeric antigen receptor T-cell therapy has emerged as one of the major breakthroughs in cancer immunotherapy in the last decade. In a video interview...
Apeiron Biologics' spinout invIOs targets solid tumors with novel cell therapy platform
Apeiron Biologics' spinout invIOs has a proprietary cell therapy platform for the modulation of intracellular immuno-oncology targets that enables rapid...
Struggle to include women in clinical trials continues despite gains
Though female participation in clinical trials has been steadily improving over the years, most of the women enrolled in trials are white and not members...
Patient advocacy organizations look to partner with pharma companies
Patient advocacy organizations are looking to partner with pharmaceutical companies, offering resources and expertise to maximize the impact and efficiency...
How to develop a sustainable portfolio for cell, gene therapy platforms
Michael Retterath, a Biotechnology Innovation Organization International Convention 2022 panelist and chief business officer at Spark Therapeutics, spoke...
Biotech industry execs, not scientists, remain male-dominated
A panel at the 2022 Biotechnology Innovation Organization International Convention will explore how to close the gender gap in the biotech industry and...
The ‘voice of the patient’ needs to be heard in clinical trials: study
Patient recruitment and retention are among the biggest challenges facing clinical research, particularly in studies targeting rare diseases that have...
New era of non-viral DNA-delivered gene therapy seen emerging
Advancements in nucleic acid-encoded therapeutics over the past decade have sparked the emergence of a new era in non-viral DNA-delivered gene therapy,...
Biotech innovator recounts decades-long journey to create drug discovery technology
Dr. Stan Crooke, PhD, founder, chairman, and chief executive officer of RNA therapy company Ionis Pharmaceuticals, pioneered development of the antisense...
Biotech industry to gather at BIO International Convention in San Diego
More than 11,000 attendees from around the globe will be in San Diego, June 13-16, for the 2022 Biotechnology Innovation Organization (BIO) International...

Copyright © 2022 scienceboard.net

Last Updated 7/20/2022 2:28:31 PM