New European innovation agenda

Innovation is critical to complete the green and digital transitions and to secure the EU’s open strategic autonomy. This is why a future-proof regulatory framework, which removes barriers to innovation, will allow cutting edge technology products to be developed and launched in Europe. In regards to this goal, biotech trade group EuropaBio has filed its response to the European Commission consultation on A New European Innovation Agenda.

“The European biotechnology sector is one of the fastest growing innovative industries in Europe. The European Union should use its scientific and industrial excellence to drive growth in the biotechnology industry, from SMEs to large companies. This can be done by addressing regulatory hurdles, increasing investments, and simplifying access to finance to facilitate scale-up in Europe,” said Dr Claire Skentelbery, director general of EuropaBio.

The current GMO legislation puts European patients at a relative disadvantage, creating hurdles which result in extended timeframes, from initiation of clinical trials through to marketing authorization. For industrial biotechnology, inefficient regulatory procedures have detrimental effects on the development and market access of innovative and sustainable bio-based products and solutions.

The EU should also continue efforts to invest in its scientific and industrial excellence and bridge the innovation gap between member states. Initiatives aimed at reinforcing international cooperation in research and innovation, for example within Horizon Europe, or in collaboration with specific industrial sectors, such as the Innovative Health Initiative or Circular Bio-Based Industries Joint Undertaking, are a key component of the EU innovation ecosystem.

On innovation performance, there is an urgent need to ensure fit for purpose regulation coupled with the right incentives for the life sciences industry. Rewarding innovation is critical to advance the objectives of the EU Green Deal and the Pharmaceutical Strategy.