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France Biotech, The French Industry Body For Life Science Entrepreneurs, Presents Three Working Areas For 2014


3/12/2014 9:52:43 AM

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PARIS | March 10, 2014. France Biotech President Pierre-Olivier Goineau recently spoke about the ambitious, dynamic role of the life sciences in France's economic development. "As the newly elected President of an organization that is exclusively financed by member fees, I shall carry on my predecessors' work of strengthening the services provided to our members. These efforts are paying off, as witnessed by the emergence of a whole ecosystem of maturing life science companies.

France Biotech will therefore continue to:
- help its recently incorporated members to improve their practices and benefit from their elders' experience.
- intensify its efforts to bring members into contact with big pharma companies in Europe and worldwide.
- promote sustainable funding in our sector, particularly through the consolidation of investment funds.

We shall also make proposals for establishing a genuinely sustainable innovation policy – the only possible winning strategy for France. This would encourage the recruitment of talented young (and less young) staff through (i) a special fiscal status for start-ups that takes account of the lengthy R&D process and (ii) alignment of France's rules on stock options with European practice; remove the constraints that slow our member companies down, for example by facilitating the establishment of industry-academia collaborations and the access and implementation of the European Union's R&D programs; establish a dedicated start-up department within the French Drug Agency; change the European Union's de minimis rule on state aid, which does not take account of our R&D investment rate and slows innovation; and require the use of unclaimed life assurance funds in the life sciences. Pierre-Olivier Goineau concluded by saying that France's entrepreneurial companies have created internationally successful products and services that meet patient needs, and have hired plenty of highly qualified people, showing that the life science industry is a key driver of France's economic development”.

The three working areas from France Biotech’s action plan

1. Member services: 80% of France Biotech's member companies were incorporated less than 10 years ago.

- Continue to publish our annual business and competitiveness reports and to run workshops for start-ups on good practice in business development, funding, contracts, corporate governance, etc.
- Coach the start-up companies due to visit BIO San Diego in 2014.

2. Promotional activities (business development and finance)

Business development events with pharma companies:
Increase the number of business partnering meetings between big pharma companies and France Biotech's life science companies – the pharma industry's future growth drivers. Sanofi, Servier and Ipsen have already met with France Biotech member companies and other partnering meetings are scheduled in 2014.

Financial events:

- France Biotech's Club des Cotées® (Listed Company Club) was launched in December 2013 and brings together the CEOS of NYSE Euronext Paris-listed companies. Nicolas Dufourcq (CEO of Bpifrance) will be the guest speaker at the next meeting (to be held on March 27, 2014).
- The first "French Investor Day" will be held in New York in late June. North American investors will be able to meet our listed company members and their ecosystem (banks, brokers, analysts, lawyers, auditors, and public relations agencies) and attend company showcases.
- The BioVision Investor Conference: France Biotech is the exclusive partner of this event to be held in Lyon, France (June 5-6, 2014).

3. Interaction with government

- Strengthening systems that take account of our long investment cycles: a flexible fiscal status for start-ups, the research tax credit, use of unclaimed life assurance funds, changing limitations on wealth tax breaks and equity investments in small businesses.
- Prompting the European Union to review its de minimis rule on state aid so that it promotes innovation and accelerates the implementation of European programs.
- Boosting the efficacy of France's clusters.
- Improving relationships with academia and the CNRS and INSERM national research organizations and reducing the administrative burden in collaborations.
* France Biotech suggests that the start-up fiscal status should last for 8 years for companies investing 15% of their budget in R&D and for 10 to 12 years for those investing 25-35%. This corresponds to the long investment cycles in the development of life science technologies and the need to recruit talented senior staff for the late clinical development phase.

About France Biotech

France Biotech brings together French life science companies and their expert partners. Its mission is to support the development of the French life sciences by working for a favorable legislative and fiscal environment. France Biotech catalyzed the French government's creation of a special fiscal status for start-ups in 2004 and continues to act as an advocate for this innovative sector. The organization is currently chaired by Pierre-Olivier Goineau, Co-Founder and CEO of ERYTECH Pharma. France Biotech has over 150 members and is governed by a Board of 20 life science entrepreneurs.

Press Contacts: France Biotech Haude Costa Haude.costa@france-biotech.org Phone: 00 33 156-581-070 / 00 33 684-258-827

Alize Public Relations Caroline Carmagnol caroline@alizerp.com Tel: 00 33 170-225-390 / 00 33 664-189-959

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