“Belgium remains Europe’s biotech Valhalla,” explains Nathalie Van Den Haute, head of Equity Capital Markets within the corporate finance team of KBC Securities. “The biotech sector, like many other industries, experienced a sharp downturn in March 2020 due to the COVID-19 crisis. However, life sciences companies have done very well in recent months. Investors see the sector as a safe haven. Not only are the valuations of biotech companies less driven by short-term turnover fluctuations, but the crisis also showcased the importance of the sector very clearly. It’s therefore no surprise that biopharma indexes outperformed general indexes such as Bel20 and S&P 500. We expect 2020 to be a record year for Belgian fundraising.”
In fact, there has been a positive dynamic in Belgium and Flanders as a region for some time now when it comes to the growth of public biotech firms and the founding of new life sciences start-ups. Over the last 5 years, over 60 local start-ups came into existence. “In spite of COVID-19, the first half of 2020 has been very strong in terms of capital rounds as well,” confirms Kenneth Wils of PMV, Flanders’ investment fund.
During VIB and flanders.bio’s ‘State of the Union' event, which announces new biotech developments while analyzing Belgium’s and Flanders’ position within the European landscape, some new companies were given the chance to introduce themselves. This year, the opportunity went to six biotech companies that have recently set up locations in Flanders to benefit from the region’s successful track record in life sciences: Asylia Diagnostics, Augustine Therapeutics, Montis, MRM Health, AgomAb Therapeutics and ExeVir, the recent VIB spin-off working on a COVID-19 treatment.