Germany Dedicates Billions to Healthcare Research

BERLIN and BOSTON, September 6, 2011 /PRNewswire/ --

Germany has allocated over EUR 5.5 billion (nearly $8 billion) in federal grants to support healthcare research over the next four years. The country trails only the US in biopharmaceutical production, with this new program providing a boost to bringing research results rapidly to market. Germany Trade & Invest will have biotechnology industry experts along with a business delegation at this year's Biopharm America from September 7-9 in Boston to share the latest business and partnering opportunities in Germany.

"Germany is already known as an established player in the pharmaceutical industry. A wealth of innovative small and medium enterprises and excellent opportunities for research partnerships are helping the country maintain its edge," stated Gabriel Flemming, medical biotechnology expert at Germany Trade & Invest in Berlin.

For years, the combination of policymaking, research and development, venture capital and industry initiatives have taken Germany's industry in a fresh direction. With an emphasis on biotechnology, the industry is becoming increasingly sustainable while finding innovative ways to tackle public health challenges.

"Germany is especially making progress in the field of personalized medicine," continued Flemming. "Foreign companies and venture capitalists are drawn to German biotechnology clusters, as diagnostics firms are working closely with the biopharmaceutical industry to create innovation hotbeds across the country."

Biotechnology regions can qualify for additional grants from the federal government. BioM in Munich, for example, received millions for its work in personalized medicine. Dr. Horst Domdey, Managing Director of BioM, will join the Germany Trade & Invest delegation and inform companies of the partnering and investment possibilities in this cluster.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

Germany Trade & Invest
Andreas Bilfinger
Email: [email protected]
T: +49(0)30-200099-173
F: +49(0)30-200099-511

SOURCE Germany Trade & Invest