The US is the largest market for biopharma, both in terms of the number of companies that the UK could partner with but also with regards to market size. In 2008 alone, the US has spent $2.3trillion on healthcare. To ensure the UK took advantage of the business potential in the US, the INMC organised a mission in September 2010, to BioPharm America™ and to visit various companies in Boston.
The UK mission team comprised BHR Group, Point-2-Point Genomics, Nanomerics, Conformetrix and EuropaRx. During the mission, they met with a number of organisations from Boston and the surrounding area, leading to five NDAs being signed. Despite business development being a long process, a number of potential opportunities for business and funding are already being explored, and the feedback from the mission delegates has been very positive.