Nordic Life Science 1
The Norwegian government has also introduced seve
ral important economic measures to fund COVID-19 clinical studies in Norway and to help the business sector through this challenging period, states Ketil Widerberg, General Manager of Oslo Cancer Cluster (OCC). ”In the short term, this funding is important to keep momentum going for our start-up companies in the cancer research field. In the longer term, current initiatives around clinical trials and health data for COVID-19 can be important building blocks to develop a sustainable health industry in the Nordics. Public and private collaboration is now more important than ever.” For example, together with Abelia and other Norwegian health clusters Oslo Cancer Cluster (OCC) has proposed to the Minister of Health and Care Services and the Minister of Trade, Industry and Fisheries, the assembly of an advisory council consisting of representatives from the Norwegian health clusters, in close collaboration with the governmental funding bodies. A big challenge for many of OCC’s biotech companies is to secure the next capital round from investors. ”Many companies, who are dependent on their next fundraising round, are now experiencing great uncertainty about the future. We are in a continual dialogue with the government’s funding bodies to see how government can help. The uncertainty is the major challenge,” Widerberg says. “At the Oslo Cancer Cluster Incubator we are thinking of new ways to utilize the shared spaces. As we enter the era of social distancing, it is increasingly important that the laboratory can offer enough equipment to the researchers and that we have the infrastructure in place to create digital meeting places,” adds Bjørn Klem, General Manager, Oslo Cancer Cluster Incubator. The Nordic life science industries face severe challenges due to the ongoing financial crisis, but we still need to remember that nothing has actually changed in the project portfolios as such, says Helena Strigård. ”These are promising, viable companies in what is an industry for the future. With the right measures at the right time, we will turn this into a strengthened industry instead.” Erna Björnsdóttir, Manager, Invest in Iceland In a statement to her members she also writes that now is the time to collaborate and listen to each other; authorities, academia, healthcare and industry. Joint strengths and collaborations with and within the life science industry will help societies fight the pandemic. She also emphasizes that we need measures to safeguard the role of life science companies in societal preparedness and also, their strength in pharmaceutical production, which is critical in a pandemic. Erna Björnsdóttir agrees that it is essential that the life science industry is safeguarded. ”My colleague attended a webinar about the effect of COVID-19 on foreign direct investment (FDI) around the world. The prediction was that life and health science would be the first sectors to recover after the crisis and thus it is very important to provide the necessary support to keep these running,” she says. PHOTO KRISTJÁN MAACK