California BioTech Companies Score in Europe
Bay Area ACET consortium organized trade mission to BioEurope expo
ALAMEDA - 01/29/04 - Seventeen small California-based life sciences companies project $590 to $760 million in new European-market business over the coming three years, according to the Advancing California's Emerging Technologies (ACET) consortium.
The companies participated in the California Biotechnology Trade Mission to the recent BioEurope conference in Frankfurt, Germany.
Organized by the Alameda-based ACET and sponsored by the Bay Area World Trade Center (BAWTC) and the California Environmental Protection Agency (CalEPA), the trade mission was comprised of 21 companies, seventeen of which reported signing contracts with European business partners.
The BioEurope conference was the third of three successful biotech trade missions organized by the ACET over the last year. Fifteen California companies were delegates to the BioSquare mission to Lyon, France last April, while eight were represented at the BioTechnica Expo in Hannover, Germany this past October.
Delegates to the combined three 2003 trade missions project more than $1 billion in new sales resulting from the mission within the next 6 to 36 months.
According to the ACET, the missions were organized "to facilitate relationships between delegates and potential overseas partners and investors, with pre-arranged one-on-one meetings between California delegates and life sciences firms during each of the three 3-day conferences.
Companies making presentations during the missions received a $1,000 subsidy, while non-presenting participants received a $500 subsidy towards conference registration and presentation fees.
Participating companies - involved in a broad range of diverse biotech activities including the development and manufacture of health-related diagnostic tools; the development of testing tools for use in pharmaceutical research; bio-informatics; genetics; and gene sequencing - included Target Discovery Inc. of Palo Alto; Burlingame-based Valentis Inc.; and Sagres Discovery Inc, headquartered in Davis.
"If these companies achieve 5% to 10% of their estimated new sales, we will see major improvements in human health and health care as well as thousands of new jobs in California within the next three years and hundreds of millions of dollars in new investment," said ACET President & CEO, Samuel Doctors.
The 2003 trade missions are the "center piece" of a larger EU Export Initiative, he said.?
The most recent BioEurope mission was funded, in part, by a grant from the US Department of Commerce's Market Development Cooperator Program (MDCP) and by a 2:1 in matching resources provided by the three partnering organizations.
Accompanying the California mission were several officials from the US Department of Commerce including Emily Arakaki, an International Trade Administration economist; Sebastian Koehler, a commercial specialist at the American Consulate in Hamburg; and Andrew Wylegala, senior commercial officer at the American Embassy in Berlin.
Tim Ogburn, marketing director at the California Environmental Protection Agency in Sacramento, also participated in the mission.
ACET's European biotech partners include Savoie Technolac, BioTeam Paris, and the Lyon Life Sciences Network of France; and the Germany-based Industrial Investment Council of Berlin, Hannover Fairs, Frankfurt Economic Development Corporation, and BioRegioN.
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