NEW YORK, June 19, 2003 (PRIMEZONE) -- Eight innovative companies from the dynamic Swedish biotech sector will be exhibiting at the BIO 2003 Annual Convention and Exhibition in Washington D.C., June 22 to 25. In the Swedish Pavilion, booth No. 835, these companies will showcase research and technology to new partners, clients, and investors. Seven Swedish agencies and institutes, including the famed Karolinska Institute, will also be present.
"We are excited to show these successful companies and tell the story of what Sweden has to offer," said Ylva Williams, director of Life Science for Invest in Sweden Agency. "In Sweden, biotech enjoys strong interest and acceptance. This support is reflected by the large number of start-ups in biotech and our government's solid backing of this sector."
Williams added, "Sweden is poised to capture a substantial part of Europe's growing biotech market. So we welcome new investments." Analysts say Sweden will see increased investment in the biotech sector this year.
Cutting-edge Achievements
Today, there are 235 biotech firms in Sweden. The country hosts Europe's fourth largest biotech industry -- and the largest when measured against population and gross domestic product. In Sweden, cutting-edge biotech achievements span the entire value chain of new therapy and drug development. Functional genomics, proteomics, regenerative medicine, stem cell research, and technology platform development are areas where Swedish research excels.
As home to the esteemed Karolinska Institute and the Nobel Prize, Sweden has developed a solid foundation in research on which to build life science companies. Sweden's productive research environment has given rise to such milestone inventions as the implantable pacemaker, the artificial kidney, and the radiating-beam surgery knife.
One of the world's first biotechnically produced drugs, Genotropin(TM), was developed in Sweden. Research has often been performed in close cooperation with universities and affiliated hospitals. Xylocain(TM), Seloken(TM), and Losec(TM)/Prilosec(TM) are examples of successful drugs developed in collaborations between Swedish companies and academia.
Swedish Pharmaceutical Roots
The Swedish roots of two of the world's largest pharmaceutical companies, AstraZeneca and Pharmacia (recently merged with Pfizer), have set the tone for research and development within the country's life sciences sector.
In addition, new firms have been created -- both as spin-offs of larger companies and by professionals who have left companies to create their own businesses. As a result of all this activity, this sector is now more active than ever. A surge in entrepreneurial activity can also be attributed to the Swedish system of granting academic researchers the right to commercialize their discoveries.
When it comes to drug discovery and development, Swedish advantages include clinical trials that have extremely low drop-out rates and numerous, high-quality databases. In fact, these databases comprise a unique collection of medical and genetic information. For example, Sweden has the world's most extensive register of twins. This is an invaluable tool for studying the relation between disease, genes, and environment.
A Leader in Stem Cell Research
A unique combination of scientific know-how and commercialization capabilities is enabling Sweden to become a world force in the stem cell research. Two research groups, one located at Sahlgrenska Academy in Goteborg and the other at Karolinska Institutet in Stockholm, have provided 25 of the 72 stem cell lines in the U.S National Institutes of Health register. Analysts say Sweden is now in the best position to capture a worldwide market for drugs based on stem cell therapies that could grow to $25 billion within the next few years. Sweden's cutting-edge position in stem cell research and production is now being commercialized. Start-ups founded around leading stem cell research units in Stockholm and Goteborg hope to reap the rewards of one the most fascinating fields in bio-science.
Swedish Pavilion Exhibitors The following exhibitors will be featured at BIO 2003 in the Swedish Pavilion, Booth No. 835.
Biotech Companies
Active Biotech develops innovative pharmaceuticals that modulate the body's own immune system. The company focuses on widespread diseases demanding new and more effective treatments. www.activebiotech.com
Affibody is a proteomics and biotherapy company. The company is leading the development of combinatorial protein engineering to enable high-throughput protein characterization for use in drug discovery and the development of novel biotherapeutics and diagnostic products. www.affibody.com
Bioventia Life Science Consultants is a young consulting company, acting as a link between ideas and innovations, financing and competent management of projects and new businesses. www.bioventia.com
Biovitrum is one of Europe's largest biotechnology companies. The company is active in the research and development of small molecule drugs and recombinant protein drugs, as well as the manufacture of recombinant protein drugs. www.biovitrum.com
Global Genomics AB was founded in 2000 by Professor Patrik Ernfors and Dr. Sten Linnarsson, in co-operation with Karolinska Innovations AB. Their goal is to commercialize gene-profiling methods. www.globalgenomics.com
Karo Bio is a leader in the field of nuclear receptor research and currently has several projects working towards novel breakthrough therapies for common diseases. www.karobio.com
Melacure Therapeutics was founded in 1998 on the basis of research done at Uppsala University. The scientific base of Melacure is to discover and develop novel drugs acting on melanocortin receptors (MCRs). www.melacure.com
NeuroNova AB is an emerging Swedish biopharmaceutical company engaged in the discovery and development of adult neural stem cell-based therapies for the treatment of disorders of the central nervous system, such as Parkinson's disease, Alzheimer's disease, stroke, and spinal cord injury. www.nwuronova.com
Agencies and Institutes -- Provide Trade Information and Services BioTech Forum is an international conference and trade show for all participants in the biotechnology industry. The Forum's next event will take place in Stockholm, November 26-28, 2003.
Business Arena Stockholm (B.A.S.) is the Official Inward Investment Agency for the Stockholm-Uppsala region.
Invest in Sweden Agency (ISA) was established by the Swedish government to attract and facilitate foreign direct investment in Sweden.
Karolinska Institutet is Sweden's largest center for medical training and research, accounting for 30 percent of the medical training and 40 percent of all the medical academic research conducted nationwide.
The Swedish Trade Council is a partnership between the Swedish government and the Swedish industry to promote, support and create opportunities for Swedish exports.
Uppsala BIO supports the development of the biotech sector in Uppsala and seeks out new sources of captial and skilled professionals for this region.
VINNOVA, Swedish Agency for Innovation Systems, is a government agency with the aim to promote sustainable growth by developing effective innovation systems and funding problem-oriented research.
About Invest in Sweden Agency
Invest in Sweden Agency (ISA) was established by the Swedish government to attract and facilitate foreign direct investment in Sweden. ISA assists companies interested in locating manufacturing sites, research and development facilities, sales offices, and customer interaction centers in Sweden by providing free site-selection information and other business-related services. ISA is headquartered in Stockholm, with offices in New York, London, Shanghai, and Tokyo, a branch office in Los Angeles, and representatives in major European, North American, and Asian cities. For more information, visit www.isa.se or call the NY office at (212) 702-8780. For more information about the Swedish biotech sector, visit www.biosweden.org.
http://reports.huginonline.com/908578/119644.pdf
ISA U.S. Contact: Inger Hassel Savitt 212-702-8780 inger.hassel.savitt@usa.isa.se Booth 835 ISA Life & Bioscience Project Contact: Ylva Williams Director, Head of Life Science +46 8 402 78 80 ylva.williams@isa.se