Regional Partnership Designed to Spur Biotech Development in California and France
Eurobiomed and Biocom signed a partnership agreement that formalizes the shared desire to strengthen ties between the two French regions of Provence-Alpes-Côte d'Azur (PACA) and Languedoc Roussillon (LR) with the State of California and accelerate the international development of the member companies of these two clusters. The agreement was signed n behalf of their member companies during the 2014 BIO International Convention.
The collaboration plans to take joint actions strengthening the skills and knowledge targeting the health markets for businesses located in both California and the French Regions of PACA and LR. The agreement plans to develop the individual businesses of the two clusters through training, advisory on European and US regulations, cost savings through central purchasing, and combining their contract research organizations. Privileged arrangements will be set up for exchanges within the scientific network of excellence of each territory.
The organizations report in a joint statement that bringing the clusters together will help in raising funds through referrals to private investor partners, as well as support prospecting and providing footholds in the territories.
California has a concentration of over 2,323 biomedical companies, generating annual revenues of $115.4 billion in 2012. This agreement falls within the context of a two-year effort led by Eurobiomed and the PACA region, in association with a range of partners such as ARII, SATT South East, Provence Promotion, and Team Côte d'Azur to develop internationally towards the United States.
From September 2012 to September 2013, the experimental phase of this operation already gave birth to two technological partnerships, along with private investment projects and localizations in the PACA region as well as the implantation of Neuroservice from the PACA Region in California.
EUROBIOMED is a healthcare competitiveness cluster established in 2006 at the initiative of the Provence-Alpes-Côte d'Azur and Languedoc Roussillon regions of France.