This is what the Chief Scientist at TMT, Dr. Eli Ofer, says ahead of the Biomed 2009 conference that will be held next week in Tel Aviv.
Summaries prepared by the Office of the Chief Scientist, ahead of the "ILSI-Biomed Israel 2009" week, which will be held on June 15-17 in Tel Aviv, show that in the seven months between November 2008 and May 2009, the Office of the Scientist approved grants to support projects in the field of life sciences with a total budget of 480 million NIS. In the division into fields, in the field of biotechnology an activity budget of NIS 235.8 million is supported; in the field of medical equipment - in the amount of NIS 155.7 million; And in the field of pharmaceuticals, an operating budget of NIS 88.5 million is supported. In total, the committee discussed 140 projects submitted by 87 companies. Of the 480 million shekels, 202 million shekels are grants from the R&D fund of the Office of the Chief Scientist. These data indicate an increase of 50% in reference to the activity and grants given in a corresponding period in 2008, when the main increase was reflected in the fields of biotechnology and medical devices.
According to the data, the rate of support in recent years in the field of life sciences maintains a share that varies between 30% (in 2007) and 25% (in 2008), compared to 14% in 2000 and 22% in 2003.
The total scope of the chief scientist's research and development grants for life science ventures was NIS 2008 million in 329, compared to NIS 359 million in 2007. In the division by fields, in 2008 the field of medical devices retained its preeminence, and received the largest share of the scientist's R&D grants - 147.3 million shekels (about 45% of the grants in the field), a slight decrease compared to the 148.5 million shekels given in 2007. The field of biotechnology increased slightly - it received grants amounting to approximately 140 million shekels (42.5%) compared to 132 million shekels in 2007, while in the field of pharmaceuticals the support decreased by about half, from 84.7 million shekels in 2007 to 41.5 million (approximately 12.5% of the grants in the field ) in 2008.
According to Chief Scientist Dr. Eli Ofer, the State of Israel has excellent centers of excellence in academia, an entrepreneurial spirit and technological capabilities in the field of life sciences, which together lead to Israel's positioning as a significant factor in the global aspect. The uniqueness of the industry in Israel is expressed in the combination of life sciences with other fields, such as nanotechnology, smart materials and advanced electronics. The scientist adds that the Office of the Chief Scientist is committed to continuing to support and assist the life sciences sector, and gives priority to companies in this field, in all stages of development in which they are. Thanks to this support, more companies have reached advanced stages of clinical development in recent years. The chief scientist added that he believes that in order for this industry to realize its potential, resources must be allocated to it on a large scale and in the long term. An example of this is the plan taking shape in the Treasury to establish a dedicated R&D fund for the field of life sciences, which will operate as a separate track and whose size will range from NIS 750 million to NIS 1 billion.
"Increasing the chief scientist's grants by about 50 percent is extremely important in any period, and even more so in this difficult period. The global venture capital community in general, and in Israel in particular, had to lower the level of investments in new companies in order to keep funds for their portfolio companies, and therefore venture capital investments in the field of life sciences were significantly reduced during the aforementioned period, when they do not even know when they will be able to raise new funds" , says Ruthi Alon, a partner in the Pitango venture capital fund, and chairman of the Israel Life Science Industry Association (ILSI). "As a result, the grants provided by the chief scientist are essential for Israeli start-up companies, and especially for companies in the field of life sciences - where the number of investors is low to begin with."
"ILSI - Biomed Israel 2009" week is the main annual event of the life sciences industry in Israel. Biomed Week includes an international professional conference with the participation of the best experts, CEOs and executives of companies in the field of biopharma and medical devices, scientists and researchers, entrepreneurs, researchers, shapers of public opinion in the field, managers of venture capital funds and private investors from Israel and the world; and an exhibition, presenting the hottest innovations. "ILSI - Biomed Israel 2009", which has received international recognition and is considered one of the most prominent in the global industry, will be held between June 15 and 17 at the "David Intercontinental" and "Dan Panorama" hotels in Tel Aviv. The chairmen of the organizing committee are: Ruthi Alon, a partner in the Pitango venture capital fund, and chairperson of the ILSI association, and Israel Makov, former president and CEO of Teva, who currently serves as the chairperson of the medical equipment company Givan Imaging.
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