06/14/2018 11h06

Investe São Paulo visits the US to attract pharmaceutical and biotechnology companies

Agency’s director presented the advantages of the state of São Paulo at 2018 BIO International Convention

Investe São Paulo

At an event held in Boston, on June 4-7, the director of Investe SP, Sérgio Costa, fulfilled an extensive agenda to prospect new investments for São Paulo. The itinerary included visits to US companies in the sector, development centers, meetings with representatives of foreign entities, and a presentation of the competitive advantages of the state of São Paulo in the biotechnology and pharmaceutical sector.

“For us at Investe São Paulo, the participation at BIO was very productive. We have been able to show that the pharmaceutical and biotechnology sectors in São Paulo are well structured and capable of receiving new foreign investments. São Paulo has research centers that are world references, such as the Instituto Butantã, for example. We can contribute to the world in the development of new drugs and treatments that use the latest scientific research. We brought new contacts, which can generate new investments in the state,” said Costa.

This is the 25th edition of BIO, one of the most important events in the biotechnology sector. The event is promoted by the Biotechnology Innovation Organization (BIO), which represents more than 1,100 biotechnology companies, academic institutions, biotechnology centers and related institutions in the United States and is present in 30 other countries.

In the panel that discussed the scenario for new business in the industry, the global leader of Ernst & Young, Glen Giovannetti, showed industry-leading data. According to Giovannetti, in 2017, the capital for innovation in this area has hit its record. New sources of funding have emerged, unlike other sectors, and the approval of new therapies has been faster than before. All this translates into a period of abundance of funds available for investment.

“This is a moment for the sector to grow, we came here with the mission to position São Paulo as the center of innovation in biotechnology in Latin America and to clearly show that they have a partner to start their activities in Brazil,” said the director of Investe SP, who was at the Brazilian Pavilion, an initiative of Apex-Brazil and the Brazilian Association of the Pharmaceutical Industry and Pharmaceutical Ingredients (ABIQUIFI).