- The formidable EU initiative has already secured 2 billion euros of co-investment capabilities and has supported 60 revolutionary Biotech, Medtech & digital well being start-ups to get to market or broaden into new territories.
- EIT Health, co-operator of the Venture Centre of Excellence alongside the European Investment Fund (EIF), has named ProductLife Group the unique Privileged Partner for Regulatory and Compliance to assist expedite the navigation of regulatory boundaries, due to its in depth Healthtech expertise & trusted standing as an current EIT Health companion.
- ProductLife Group’s intervention will guarantee younger, formidable startups are in fine condition for regulatory approval, de-risking their path to market & making them a safer wager for VC and company backers.
PARIS, Nov. 8, 2022 /PRNewswire/ — ProductLife Group (PLG), a specialist supplier of regulatory and compliance providers for the life sciences trade, has introduced its standing as the unique Privileged Partner for Regulatory & Compliance providers of the Venture Centre of Excellence (VCoE). EIT Health will suggest PLG to these early-stage Biotech, MedTech and digital well being start-ups requiring assist from a regulatory perspective to speed up their journey to market due to the VCoE programme.
The function of the VCoE is to extend and speed up market alternatives for early-stage biotech, MedTech and digital well being start-ups throughout Europe, by matching these younger firms with the funding, skilled providers experience and contacts they want. The wider purpose is to make Europe a extra engaging and profitable market for a brand new technology of life sciences trailblazers, whether or not they’re coming into the market for the primary time or seeking to broaden their actions to different nations throughout the continent.
When the European Commission introduced its EUR 150m anchor funding into the programme in October 2020, it set out an ambition to facilitate 2 billion euros in funding and convey 200 fledgling start-ups to market over a interval of 15 years. That funding degree has already been achieved, with greater than 60 start-ups to this point benefitting from funding mobilised due to the programme, stemming from its chosen VC funds and Corporate members having joined the initiative, with additional such entities because of be a part of within the weeks and months forward.
As nicely as placing promising early-stage start-ups along with essential funding, EIT Health’s VCoE goals to construct their market readiness, via beneficial contacts and entry to skilled providers. Since many of these small scientific groups have come out of college labs, they might carry beneficial improvements to the market after they’ll get assist for the executive features of their undertaking. The VCoE’s function can be to suggest this assist to the start-ups and ease their path to market.
PLG’s intervention, when taken up, will make sure that promising younger, formidable start-up groups are in fine condition for regulatory approval, de-risking their path to market & making them a safer wager for VC and company backers.
One start-up that has already taken up PLG’s providers via the partnership is Sensius – medical analysis hole evaluation within the context of medical units
EIT Health’s choice of PLG as its unique Privileged Partner for Regulatory & Compliance providers within the VCoE is a testomony to PLG’s confirmed observe file in serving to rising Biotech and different revolutionary life sciences start-ups navigate regulatory complexity. PLG is a long-standing trusted companion of EIT Health.
Commenting on the brand new collaboration between VCoE and PLG, Isaac Middelmann, Head of Access to Finance for EIT Health Make investmentsHealth: “This is a very exciting development, which will help cement the opportunities we have set out for promising early-stage start-ups targeting the latest challenges and opportunities at the cutting edge of life sciences. Access to trusted professional services and expertise is as critical to these start-ups as a financial investment, as the two go hand in hand.”
Jean-Marc Bourez, EIT Health Services & Investment Managing Director, added: “Our corporate and VC members are keen to support these young, innovative and ambitious companies, and it helps enormously here if the teams coming forward have already been vetted and guided through the relevant regulatory requirements to bring their therapies to market in Europe. PLG is ideally placed to help with that, with its rich knowledge of the regulatory and cultural context in each European market, and its detailed understanding of how reimbursement works in each country, as well as the complex respective requirements around clinical trials.”
“We are honoured to be called upon in this way, which fits perfectly with our own strategic aim to champion the next generation of European life sciences leaders,” stated Xavier Duburcq, PLG’s CEO. “This is all about levelling up the opportunity for aspiring start-ups in Europe, compared with other important geographic markets such as North America and the Asia-Pacific region.”
Gabrièle Breda, Head of Innovation at PLG, added: “Nurturing biotech, MedTech and digital health innovation is a core part of our strategy. So it is with great pride that we are embracing this prestigious partnership and, through it, this invaluable opportunity to help young, ambitious companies navigate the market complexities effectively and efficiently so that they can realise their potential without delay.”
Both EIT’s VCoE and PLG shall be taking an lively half within the forthcoming Medica truthful commerce on November 14-17.
About EIT Health
EIT Health is a community of best-in-class well being innovators backed by the EU. We collaborate throughout borders to ship new options that may allow European residents to reside longer, more healthy lives. As Europeans sort out the problem of growing persistent illnesses and multi-morbidity and search to understand the alternatives that expertise affords to maneuver past standard approaches to therapy, prevention and wholesome life, we want thought leaders, innovators and environment friendly methods to carry revolutionary healthcare options to market. EIT Health addresses these wants. We join all related healthcare gamers throughout European borders – ensuring to incorporate all sides of the “knowledge triangle”, in order that innovation can occur on the intersection of analysis, training and business for the profit of residents.
About the Venture Centre of Excellence
Through the VCoE, members be a part of an unique group of chosen enterprise capital funds and personal traders thereby boosting the circulation of funding directed in direction of European life science start-ups, SMEs, and Small Mid-Caps by matching fund managers with pharma corporates and different strategic traders. The VCoE addresses the particular curiosity of its members to entry open innovation, by growing their co-investment capabilities and alternatives for strategic collaborations in extremely revolutionary European life science start-ups. Programme members will be capable to share these start-ups themselves, and EIT Health will even vet start-ups from its community to current to members, together with due to an unique synthetic intelligence-based platform developed by Skopai, the VCoE’s technical companion.
About ProductLife Group (PLG)
ProductLife Group’s mission is to enhance human well being by delivering regulatory compliance providers for the secure and efficient use of medical options.
Since virtually 30 years, PLG helps purchasers via the complete product life cycle, combining native experience with world attain spanning greater than 150 nations. It offers consulting and outsourcing providers within the areas of regulatory affairs, high quality and compliance, market entry (pricing & reimbursement), vigilances and medical info, protecting each established merchandise and revolutionary therapeutics & diagnostics.
With a purpose of repeatedly enhancing the worth delivered to folks and prospects, PLG is dedicated to long-term partnership, innovation, flexibility, and value effectivity.
For extra info, go to productlifegroup.com
Contact
Fabrice Galzin
ProductLife Group Head of Marketing
+33 675 349 606
[email protected]
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