Finland Times

Auria Biobank and Bayer on Wednesday announced an agreement on research work aimed at the development of more precisely targeted cancer medications and treatments, said a press release of the Ministry of Employment and the Economy.

At least two ministers say that the investments in health care research and innovations in Finland will bring results.

“Finland wants to be in the front line when health care is developed with the help of genome information. The collaboration of Auria Biobank and Bayer will significantly speed up the emergence of more precise medicines onto the market. For citizens this means better and more individual treatment,” says Minister of Social Affairs and Health Laura Räty.

 A modern Biobank Act and the genome strategy under preparation and implementation of its measures combined with the possibilities of digitalisation create a very competitive atmosphere for medical research and business activities in Finland, Räty continues.

"Finland has world-class innovations, skills, and research. However, skills in marketing this know-how to the world have been inadequate,” says Minister of Economic Affairs Jan Vapaavuori.

“As part of the implementation of the growth strategy in the health sector that was made public last year, we have launched a growth programme called Team Finland Health, which focuses on attracting investments and on special questions concerning the internationalisation of the field," the minister adds.

The collaborative agreement between Auria Biobank and Bayer is already the second significant opening in the field of health in recent times.

Team Finland Health focuses on attracting investments. The health care field has been clearly gaining strength in Finland's export statistics with turnover and exports growing and the trade balance being very positive.

Health care, information technology, and biomedical research combine with the help of biobanks. An especially great future prospect from Finland's point of view is offered by the digitalisation of traditional health technology and pharmaceutical research.

The international visibility of the health sector requires a marketing angle that is wider than that of a single product or company.

Finpro's Team Finland Health growth programme carries out the building of an image for Finland in the health sector and creates a foundation and functional models for cooperation.

The aim is to strengthen the image of Finland as an internationally attractive environment for research both into the field of health and into innovation activities, and in so doing, to attract new investments and business. It also helps Finnish health sector companies to go international.

The aim of the programme is 10 percent annual growth in turnover and a 2.5-fold increase in research investments over the next decade.  
 
About 500 companies in Finland operate in the health sector, employing 20,000 people.  

Developing new medicines is increasingly difficult and expensive when traditional methods are used. High-quality biobanks, information systems, and health care registries are strengths that Finland has, and their utilisation is of interest also to the international pharmaceutical industry, according to the release.