Israel: The ‘Start-Up Nation’ is now the ‘Biotech Nation’ – opinion – The Jerusalem Post

The next major development in Israels life science industry is coming from a microscopic source. Biotech based on the tiny building blocks of life is a sector positioned to unlock new discoveries and drive economic growth in the future.

Although the Start-Up Nation is a well-deserved nickname, I believe Biotech Nation will soon be a better fit.

Biotechnology accounts for more than one-quarter of the countrys life science scene. There are currently 468 active biotech firms, employing thousands of high-skilled workers.

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And the industry is evolving in new directions.

We are amid a bio-convergence revolution. This means that biology research increasingly leverages multidisciplinary talent, such as computer engineers, big data scientists, artificial intelligence and advanced manufacturing.

The results are broader capabilities, bolder aspirations and bigger breakthroughs. IATI views bio-convergence as the next major economic growth engine for Israel.

The government is also betting on bio-convergence.

Since the Israel Innovation Authority launched CRISPR-IL, a consortium that combines artificial intelligence and CRISPR capabilities to develop genome editing tools, our leading scientists and biotech companies are joining forces to find new treatments and cures.

I am proud Pluristem is teaming up with this initiative. Partnerships like CRISPR-IL are setting an exemplary model that will lead to many more industry disruptions.

It should come as no surprise that when compared to the rest of the world, Israel spends the highest percentage of GDP on research and development. We already have 300 research groups and 30 academic centers working on bio-convergence R&D.

I have observed that in the wake of the COVID-19 pandemic, interest in regenerative medicine research skyrocketed. At Pluristem, we are developing cell-based therapeutics derived from donated placentas to potentially treat hematological deficiencies, radiation exposure, and muscle injuries related to hip fracture surgery.

Now, there are more 1,000 regenerative medicine trials active around the world. The Alliance for Regenerative Medicine reports that about 85% are in Phase I or II studies. Pluristem has one of the few in Phase III: our PLX-PAD product candidate to support muscle regeneration following hip fracture surgery may be the first approved treatment of its kind.

Early on, we knew that it would also be critical to have our own proprietary cell manufacturing technology that could be scalable from research to commercial use. So, we developed a three-dimensional micro-environment mimicking the conditions in the human body, which allows us to expand our placenta cells and transform them to cell therapy products. This result is only made possible by a cross section of talent from clinical and technology backgrounds, demonstrating the power of bio-convergence.

Its not a moment too soon. Most countries face demographic headwinds, such as aging and declining populations. Many developed nations are already experiencing these trends coupled with skyrocketing health care costs. The world will see a surge in demand for new treatments and ways to control healthcare spending.

The Israeli approach, leveraging out-of-the-box thinking, a spirit of innovation, and a long track record of breakthrough treatments, can convert these challenges into opportunities.

Technology is a force that brings people together, across professional fields, cultures, and borders. When advanced technology is paired with cutting edge medical research, we have the power to craft the future we want.

As IATI reports, our biotech sector is full of boundless opportunities. Israel is one of the greatest places in the world for biotech companies to thrive.

The writer is CEO and president of Pluristem. He is also a board member and former co-chairman of Israel Advanced Technology Industries, and served as CFO of Elbit Vision Systems.

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Israel: The 'Start-Up Nation' is now the 'Biotech Nation' - opinion - The Jerusalem Post