Innovations, Investments, Lithuania, Technology

International Internet Magazine. Baltic States news & analytics Monday, 15.07.2024, 19:08

Lithuania's Biotechpharma looking for companies to invest into biotechnology complex

BC, Vilnius, 06.10.2020.Print version
Vladas Bumelis, the majority shareholder and board chairman of Lithuania's natural sciences and gene engineering research company Biotechpharma, is looking for foreign companies to invest around 500 million euros into a biotechnology research and production complex near Vilnius, the vz.lt news website reports on Tuesday refered LETA/BNS.

Bumelis has already acquired a 5 ha land lot in Vilnius District for the investment.


He told BNS the land will be used to implement a project called Celltechna, which will involved the construction of three new production facilities. One of them will produce products from microbial cells. The second one will produce products from mammal cells and the third would produce products from stem cells, including 3D bioprinting.


The Lithuanian government says biotechnology is a priority area for economic development, and it should account for at least 5% of the country's GDP by 2030.


According to Investuok Lietuvoje (Invest Lithuania), Lithuania's foreign investment promotion agency, the life sciences sector now fails to generate even 1% of the country's GDP, with 72 biotechnology companies operating in this area, including Teva Baltics, Thermo Fisher Scientific Baltics, Intersurgical, Hollister, etc.






Search site