{"id":17217,"date":"2020-05-19T10:22:55","date_gmt":"2020-05-19T08:22:55","guid":{"rendered":"https:\/\/www.hollandbio.nl\/?p=17217"},"modified":"2020-05-19T10:22:56","modified_gmt":"2020-05-19T08:22:56","slug":"survey-results-impact-and-response-to-the-covid-19-crisis-in-the-european-life-sciences-sector","status":"publish","type":"post","link":"https:\/\/www.hollandbio.nl\/en\/nieuws\/survey-results-impact-and-response-to-the-covid-19-crisis-in-the-european-life-sciences-sector\/","title":{"rendered":"Survey results: impact and response to the COVID-19 crisis  in the European Life Sciences sector"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">This month ttopstart has interviewed 50 European life\nsciences companies on how they are impacted by and have responded to the\nCOVID-19 crisis. In the report the results are discussed and translated into\nrecommendations. Jasper Levink, director of ttopstart: \u201cWhereas some life\nsciences companies seem to benefit from the pandemic, many are facing severe\ndelays, funding issues, and are at risk of default. With this report we provide\nuseful recommendations to these companies. They could benefit from quickly\nfinding the right investors, partners, and making strategic switches to adopt\nto the corona-induced situation.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Results: impact of COVID-19 on life sciences industry<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Nearly two-thirds\nof the companies interviewed expect delays in the development of their lead\nproduct due to the COVID-19 crisis. The average expected delay is 6-months. <\/li><li>About half\n(51%) of the companies expect to require extra funding. Most of the firms in\nneed for additional funding require an amount between \u20ac100.000-\u20ac400.000, and it\nis not rare for companies to require an amount of even more than \u20ac800.000.\nInterestingly, these data also imply that an equal amount of companies does not\nface a financial setback. <\/li><li>Our data\nshows that the impact of the exit value of companies is very mixed; A quarter\nof the companies expect their exit value to be influenced negatively whereas\nabout an equal amount of them expects a positive effect, no effect, or find it\nhard to make a prediction. Of the firms older than 11-years 21% are at risk of\ndefault (compared to 42% of younger companies) and only 36% of them require\nextra funding due to the COVID-19 crisis (compared to 63% of younger\ncompanies). This may indicate that older firms have a higher chance of\nsurviving this crisis. <\/li><li>A wide\nrange of strategic moves in response to the crisis are being made. Amongst\nfinancial strategies, reduction in operational costs and postponing investments\nare the most common. Interestingly, nearly a third of the interviewees have\nresponded to the pandemic by switching to infectious diseases or other COVID-19\nrelated areas. <\/li><li>Many\ncompanies are forced to revise their R&amp;D and funding strategies while\nfacing future uncertainties. The long-term effects of postponing investments\ncould be the most detrimental for biomedical innovation. <\/li><li>Nearly 60%\nof the companies applied for the governmental support measures offered.\nInterestingly, only a quarter of the respondents in need of extra funding\nattempted to raise this via EU grants.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">For the full report visit:<strong> <a href=\"https:\/\/www.ttopstart.com\/news\/results-survey-covid19\">https:\/\/www.ttopstart.com\/news\/results-survey-covid19<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This month ttopstart has interviewed 50 European life sciences companies on how they are impacted by and have responded to the COVID-19 crisis. In the report the results are discussed and translated into recommendations. Jasper Levink, director of ttopstart: \u201cWhereas some life sciences companies seem to benefit from the pandemic, many are facing severe delays, [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[43],"tags":[],"class_list":["post-17217","post","type-post","status-publish","format-standard","hentry","category-innovatieklimaat"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Survey results: impact and response to the COVID-19 crisis in the European Life Sciences sector - hollandbio<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hollandbio.nl\/en\/nieuws\/survey-results-impact-and-response-to-the-covid-19-crisis-in-the-european-life-sciences-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Survey results: impact and response to the COVID-19 crisis in the European Life Sciences sector - hollandbio\" \/>\n<meta property=\"og:description\" content=\"This month ttopstart has interviewed 50 European life sciences companies on how they are impacted by and have responded to the COVID-19 crisis. In the report the results are discussed and translated into recommendations. 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