Mark Lesselroth, CEO of BioPortUSA was invited to participate in Bio-M webinar on Market Entry USA. Bio-M is Germany’s largest BioTech cluster and supports a number of early stage start-ups in the biotechnology arena. Mr. Lesselroth focused on the challenges German companies will face as they try to do business in the US, underscoring the difference in cultural nuances which will impact how successful they will be. Among the topics covered were the importance of Market Research, Freedom to Operate, Regulatory Landscape, Reimbursement, and Sales & Marketing. Mr. Lesselroth talked about how “German firms need to appreciate what role money plays in the U.S. healthcare system, especially in the time of Covid-19 where hospitals are curtailing spending.”
Since 1997, BioM is the central network organization for the biotechnology sector in Munich and Bavaria, commissioned by the Bavarian Ministry of Economic Affairs. Approximately 270 biotechnological and pharmaceutical companies are present in the metropolitan area of Munich. The core competence of the region is the development of innovative therapeutics and diagnostics, in particular for personalized healthcare.
As a non-profit organization, BioM supports the biotech community with its extensive network in a variety of ways. The cluster management acts as a centralized access point to connect Bavarian life science companies with relevant national and international partners.
BioM also supports Bavarian biotech companies at every stage of setting up their business. For this, BioM has developed a unique support program, tailor-made for aspiring start-ups and entrepreneurs in the life sciences sector - the virtual incubator BioM inQlab. In total, BioM has supported more than 200 start-up companies over the last 20 years.