Global pharmaceutical companies have their eyes set on the vast amounts of data available in Finnish biobanks, which, in turn, seek collaboration partners and customers to further develop their activities.
“Biobanks and companies have a common goal to promote the development of health care and human well-being. Finnish biobanks are unique in that they collect a diverse set of data about patients, and this is exactly what big pharmaceutical companies need for their drug development,” Professor of Innovation Management Hanna Lehtimäki says.
Lehtimäki is a member of a UEF research group analysing the commercial potential of Auria Biobank in an article that won a Case Centre Award last year.
Established in Turku in 2012, Auria is the first clinical biobank in Finland, and a pioneer in the commercial use of biobank data. More than one-third of Auria’s research projects are linked to private sector operators, and up to 50% of the biobank’s annual expenditure is expected to be generated from collaboration with companies.
“Commercial collaboration is a way to translate biobank data into activity that has social relevance. It brings dynamism to development and creates new, innovative business activities.”
Lehtimäki acknowledges that personalised medicine, which is associated with biobanks, is strongly linked to the economy of expectations.
“This is partly rhetoric used to create business potential and willingness to invest. There is a lot of potential, that’s for sure, but I believe that the transition towards personalised medicine will be a gradual one.”
An important step in the commercial use of biobank data is, according to Lehtimäki, the creation of strategic partnerships between biobanks and companies.
“A strategic partnership equals long-term collaboration. If contracts are made for the short term only, biobanks are just suppliers of specific data for companies, and they remain excluded from development activities. In long-term collaboration, expertise is accumulated not just by large companies, but also by biobanks.”
However, biobanks need to develop their business models to ensure smooth collaboration with companies.
“Currently, biobanks have large institutional owners, which tends to slow down decision-making. Taking it slow has its advantages, but when collaborating with companies, determined and faster decision-making is expected,” Lehtimäki says.
Commercial collaboration is a way to translate biobank data into activity that has social relevance
Professor Hanna Lehtimäki
