BIO 2024: Highlights and take-home messages

With over 19,500 industry leaders from 70 countries, the conference provided an unparalleled opportunity to engage with biotech professionals and explore potential collaboration. The event also exceeded its prior record of partnering meetings with more than 61,000 meetings held this year.
About 50 Swedish companies attended the convention, a slight decrease from 67 last year, representing roughly half of the Nordic delegation (Denmark: 23, Finland: 16, Norway: 11, Iceland: 3). According to a small survey of SwedenBIO members, partnering was the primary reason for attending the event. Respondents typically dedicated 70-100% of their time to partnering activities, participating in 25-30 partnering meetings during the event.

The vast and busy exhibition space hosting thousands of delegates served as an arena for numerous informal meetings, fostering a dynamic environment for networking and collaboration. The partnering area was integrated into the exhibition hall, which also featured country pavilions and company stands of various sizes. Nordic exhibitors included Recipharm, NorthX, Kvantify App, CEPI, Iris.ai, 3PBiovian, Fermion Oy, and Paras Biopharmaceuticals.

European Union at BIO

This year, the EU had its own pavilion arranged by the European Innovation Council (EIC) showcasing 15 selected companies. Through EIC International Trade Fairs and USA Soft-landing, the companies were given access to exclusive networking opportunities, support in preparing their expansion in the US market, and promotional communication activities to help increase their visibility. Two of the companies were AcouSort and Verigraft from Sweden.
“Our company is all about sample preparation. We have developed an innovative technology based on microfluidics and sound waves that can automate all the processes that are currently done using the centrifuge. In contrast to centrifugation, which entails many compromises, we integrate the entire sample preparation process and completely automate it, thereby having less of an impact on the viability of the cells and, not least, saving time. Through this partnering opportunity, we have already met with several companies that would be interested in using our technology in their devices. So we are truly happy to be here,” said Agnes Michanek, Commercial Director at AcouSort.
Verigraft’s technology provides surgeons with fully-biological, personalized tissue grafts for implantation into patients. The first clinical application will be to treat Chronic Venous Insufficiency, CVI, a disease of the deep venous system that leads to painful swelling and ulceration of the lower legs.
“As a company we’ve always been very active in applying for and securing soft financial grants, both from the Swedish national agency Vinnova and also from the EU. Through these programs and since we successfully demonstrated our technology, we were invited to this program,” said Raimund Strehl, Chief Technology Officer at Verigraft. “For us, it is an opportunity to meet people and an excellent PR opportunity to put us on the map, and as we’re looking for investment right now, the timing is perfect. Additionally, we’re looking for partners for our upcoming clinical trials. We want to carry out phase two clinical trials in Europe and in the US, so talking to both CROs and CMOs is relevant.”
Another EU organization, the Innovative Health Initiative, was represented by Niklas Blomberg, the new Executive Director for IHI since January this year. He attended BIO to oversee a session on rare diseases which was organized by IHI and its partners, the Children’s Tumor Foundation, the Critical Path Institute, EuropaBio, and IRDiRC.
“BIO is an interesting event for us because it attracts a diverse range of participants. As IHI is a public-private partnership, it is crucial to learn about the latest developments in the broader health innovation ecosystem. Additionally, I appreciated the sessions on the ever-evolving regulatory landscape,” said Blomberg.

SwedenBIO’s take-home messages

On the morning of the last day of the conference, before rushing to catch her flight back to Europe and Sweden, Jessica Martinsson, CEO of SwedenBIO, shared her impressions with NLS.
“I am overwhelmed by the friendly and open atmosphere here at BIO and it feels like everyone is present. I’ve attended meetings with sister organizations, explored the vast exhibition hall with country pavilions showcasing their companies and strengths, and met numerous people eager to engage with SwedenBIO. As I head home, I am admittedly tired but full of positive impressions, energy, and ideas for the future,” she said.

We also asked her about major trends and key takeaways relevant to Sweden.
“Bioprocessing was a large part of the exhibition, and this is an area where Sweden has a lot to offer. The global trend is to reshore production and be less dependent on Asian suppliers and we should not miss out on this opportunity. I was pleased to notice that the EU had invested substantially this year through the EIC. I hope that more EU organizations will participate in the coming years as increased interaction with the US will be mutually beneficial,” said Martinsson.

“Of course, AI has entered our sector over the last couple of years. AI for drug discovery is a highly competitive field and Swedish companies in the field were represented at BIO. Finally, BIO in the US shares several similarities with European conferences like NLSDays and BIO-Europe, including partnering, exhibitions, company presentations, start-up pitches, and sessions involving science, business, and financing. However, one significant difference is that BIO also includes policy discussions, patient advocacy activities, and provides a platform for meeting other associations and sister organizations,” she concluded.

Looking ahead: A Swedish pavilion at BIO 2025?

“My clear impression is that everyone is present here, and Sweden should be here too. Next year, SwedenBIO will continue to offer discounts and assist our members, but that will not be enough if we truly want to compete for attention. We need to step up and show the world that we mean business by positioning Sweden as one of the leading countries, and a Swedish pavilion would be essential in this. Sweden’s life science sector is growing and is a significant contributor to the country’s export income, an asset worth supporting. An important mission for the team at SwedenBIO is to raise awareness among politicians and government officials of the importance of our sector and the benefits of investing in promoting Sweden at BIO in Boston next year,” stated Martinsson.