On Course for Growth: Publication of the #Biotech Industry Key Figures

On 5 June, EY and BIO Deutschland held a press conference to present the German Biotechnology Report 2024. The results show that the German biotechnology sector is on a growth path. Both the number of employees and investments in research and development will increase by 10 per cent in 2023. However, growth in the number of companies was moderate at 3%. Only turnover fell by around 50%, mainly due to the significant drop in sales of BioNTech's coronavirus vaccine.

German biotech companies remain attractive to investors: The amount of capital raised climbed to 1.1 billion euros, an increase of 17% over the previous year. In addition, collaborations reached a near all-time high with a potential total value of up to 11.4 billion euros. The innovative strength of the German biotech scene is also unbroken, as reflected in the 169 clinical trials currently underway - a record in the history of the industry.

In addition to the state of the industry, this year's report focuses on the promising synergies between biotechnology and artificial intelligence.

The report can be downloaded from EY: www.ey.com