EMERGING TECHNOLOGIES | BDO LLP
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33 EMERGING TECHNOLOGIES | BDO LLP
‘Some biotechs with very promising science in their labs could be damaged badly due to a lack of resources, says Carlos de Rojas. ‘Generally speaking, small biotech companies short on cash will face a funding crunch if the stock market keeps down.’ The silver lining in all this surely lies in the fact that BioTech remains our best hope for a return to a virus-free world. In the process, the life sciences are earning greater respect, profile and support. Investors and media alike are gaining in scientific literacy, and this can only positively impact the sector over the longer term.
‘Much more than that, developing a coronavirus vaccine would send shockwaves through the stock markets. Most countries are scrambling to find a cure, their companies have taken the lead to defeat COVID-19, and financial media sources trumpet BioTechs that could cross the finish line first.’ In the throes of a pandemic, firms with solutions that can make a difference fast benefit from fast-tracked tenders and rapid decisions. E&O Laboratories, for example, scooped a £7 million deal with NHS Scotland , for a chemical solution it has developed to support the COVID-19 testing process. E&O’s VPSS solution (Viral PCR Sample Solution) is placed in each tube, making test samples that contain COVID-19 safe within the tube itself. The tube can then be tested immediately on arrival at a lab, with no further need for a pre-
In the rush to win the vaccine race, BioTech businesses not directly focused on coronavirus could suffer from a lack of interest or investment, and news headlines and the emotions of the day can sometimes hold sway over cooler, science-led judgements. The utter dominance of the pandemic could also see unfortunate delays in the development of treatments for other conditions, for example in resourcing clinical work, recruiting patients for trials, and moving therapies through regulatory processes to approval. Investment in BioTech declined globally from 2018 to 2019, and fundraising for BioTech businesses is likely to remain uncertain for some time to come. Many of the big raises were announced shortly before the pandemic hit, and smaller companies – even those with promising innovations in store – could suffer without cash reserves to see them through.
testing solution to be added. As a result, testing turnaround is accelerated, safety is improved for lab workers. It’s one of a range of BioTech innovations supported by the Scottish government to help reduce the country’s reliance on global supply chains. THE SILVER LINING IN ALL THIS SURELY LIES IN THE FACT THAT BIOTECH REMAINS OUR BEST HOPE FOR A RETURN TO A VIRUS- FREE WORLD .
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