Investing in Biotechnology: A Commitment to Excellence and the Real Impact of Innovation on Patients

The Spanish biotech ecosystem, despite its progress in investment, R&D, business creation, and international visibility, still needs to strengthen public-private collaborations and take greater advantage of European funding instruments.

The biotechnology sector continues to grow year after year in Spain and across Europe, driven by a commitment to excellence and to the tangible impact that innovation can have on patients and clinical practice. In this context, several experts have analyzed the challenges facing the biotech ecosystem, the evolving profiles of investment managers (GPs) and fund investors (LPs)—who are becoming increasingly professionalized—and the role of venture capital funds as a key driver for the growth of biotech start-ups. These discussions took place within the framework of the BIOSPAIN 2025 International Biotechnology Meeting, held from October 7–9 at Fira de Barcelona – Montjuïc, organized AseBio and Biocat, in collaboration with the Generalitat de Catalunya and the Ajuntament de Barcelona.

Biotechnology has profoundly transformed the pharmaceutical landscape since the late 20th century, establishing itself as a strategic pillar of innovation in the pharmaceutical industry—not only in the development of new treatments but also in the optimization of production processes. Today, as highlighted by Jordi Gibert, Head of Biotechnology at Klinea Biotech & Pharma Engineering, “biotechnology is converging with automation, artificial intelligence, and personalized medicine, opening new frontiers in the treatment of complex diseases.” Looking ahead, the expert stressed the need to foster “multidisciplinary talent and collaborative frameworks that accelerate innovation.”

Innovation has become a key element in the biotech ecosystem, both in product development and in advanced manufacturing processes. In this regard, Albert Font, CEO of Leanbio, explained that companies are increasingly seeking end-to-end solutions that reduce complications and risks, and are looking for partners who share their social and sustainability values. “Providing comprehensive, flexible, technically excellent, and high-quality services, as well as focusing on high-value niches and technological innovation, are key factors for attracting potential investors and gaining access to capital markets,” he emphasized. However, Font noted that to foster this growth, it will be essential to design financing models tailored to the biotech sector, “adapting to return timelines, regulatory frameworks, and the different stages of business maturity.”

To prevent the lack of local or national institutional funds from hindering the development of biotech companies, Albert Font also recommended increasing short-term public-private co-investment programs to reduce risk for foreign capital, continuing to promote coordinated internationalization campaigns, and enhancing tax incentives in the sector. Furthermore, he stressed the importance of “promoting international talent attraction programs and expanding the use of European funding mechanisms such as EIC Accelerator, Horizon, InvestEU, TechEU, and others.”

The Spanish Investor: Professionalized and a Driver of Knowledge

Investment in health—growing steadily in both Spain and Europe—is increasingly focused on excellence and the real impact that innovation can have on patients and clinical practice. According to Clara Campàs Moya, Managing Partner at Asabys, the profiles of investment managers (GPs) and fund investors (LPs) are evolving rapidly, “with smaller private investors and increasingly specialized and professionalized family offices” among the LPs.

Campàs Moya added that “corporate investors are seeking not only financial returns but also non-financial ones—in the form of impact and market insight.” As for investment managers (GPs), their teams are becoming more technical and hands-on: “We contribute not only capital to our portfolio companies but also knowledge, networks, and experience,” she noted.

In this context, Venture Capital (VC) funds have developed their own investment strategies, ranging from backing emerging Spanish science and innovation to creating spin-off companies. According to Campàs Moya, “what most VCs have in common is an appetite for disruptive companies and products that have the potential to bring true innovation to patients and clinical practice.”

Venture capital funds are an essential engine for the growth of biotech start-ups because, as stated by Marín Orriols, Corporate Development Director at Net-Pharma Hub, they enable science to be transformed into real health solutions. These companies, he pointed out, require capital-intensive investments at very early stages, with long maturation periods and a high degree of risk.

Orriols emphasized that both national and international venture capital not only provide funding but also offer access to global networks, strategic know-how, and the ability to accelerate market entry for new technologies. “Thanks to this support, start-ups can overcome the so-called ‘valley of death’ and reach clinical validation and commercialization stages,” he explained.

According to Orriols, the growth of biotech start-ups depends on balancing high capital needs with the inherent uncertainty of the sector. Biotechnology, he said, “requires sustained investment in research, clinical trials, and regulatory processes that may take years before yielding returns.” This calls for attracting long-term, risk-tolerant investors, while “the fragmentation of funding and global competition make it necessary to design public-private co-investment models that provide stability.” Finally, he identified training specialized biotech investors as one of the greatest challenges: “They must be capable of assessing not only financial indicators but also the scientific and clinical potential of companies.”