Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, November 08 2022 - 20:00
EIT Health's Venture Centre of Excellence Names ProductLife Group as Privileged Partner for Regulatory & Compliance
PARIS, Nov. 8, 2022 /PRNewswire-AsiaNet/ --

- The ambitious EU initiative has already secured 2 billion euros of 
co-investment capabilities and has supported 60 innovative Biotech, Medtech & 
digital health start-ups to get to market or expand into new territories.
- EIT Health, co-operator of the Venture Centre of Excellence alongside the 
European Investment Fund (EIF), has named ProductLife Group the exclusive 
Privileged Partner for Regulatory and Compliance to help expedite the 
navigation of regulatory barriers, thanks to its extensive Healthtech 
experience & trusted status as an existing EIT Health partner.
- ProductLife Group's intervention will ensure young, ambitious startups are in 
good shape for regulatory approval, de-risking their path to market & making 
them a safer bet for VC and corporate backers.

ProductLife Group <> (PLG), a specialist 
provider of regulatory and compliance services for the life sciences industry, 
has announced its status as the exclusive Privileged Partner for Regulatory & 
Compliance services of the Venture Centre of Excellence 
<> (VCoE). EIT 
Health <> will recommend PLG to those early-stage 
Biotech, MedTech and digital health start-ups requiring support from a 
regulatory perspective to accelerate their journey to market thanks to the VCoE 

The role of the VCoE is to increase and accelerate market opportunities for 
early-stage biotech, MedTech and digital health start-ups across Europe, by 
matching these young companies with the funding, professional services 
expertise and contacts they need. The wider aim is to make Europe a more 
attractive and lucrative market for a new generation of life sciences 
trailblazers, whether they are entering the market for the first time or 
looking to expand their activities to other countries across the continent.

When the European Commission announced its EUR 150m anchor investment into the 
programme in October 2020, it set out an ambition to facilitate 2 billion euros 
in investment and bring 200 fledgling start-ups to market over a period of 15 
years. That investment level has already been achieved, with more than 60 
start-ups to date benefitting from funding mobilised thanks to the programme, 
stemming from its selected VC funds and Corporate members having joined the 
initiative, with further such entities due to join in the weeks and months 

As well as putting promising early-stage start-ups together with crucial 
funding, EIT Health's VCoE aims to build their market readiness, through 
valuable contacts and access to professional services. Since many of these 
small scientific teams have come out of university labs, they may bring 
valuable innovations to the market when they'll get support for the 
administrative aspects of their project. The VCoE's role is also to propose 
this support to the start-ups and ease their path to market.

PLG's intervention, when taken up, will ensure that promising young, ambitious 
start-up teams are in good shape for regulatory approval, de-risking their path 
to market & making them a safer bet for VC and corporate backers.

One start-up that has already taken up PLG's services through the partnership 
is Sensius <> - clinical evaluation gap 
analysis in the context of medical devices

EIT Health's selection of PLG as its exclusive Privileged Partner for 
Regulatory & Compliance services in the VCoE is a testament to PLG's proven 
track record in helping emerging Biotech and other innovative life sciences 
start-ups navigate regulatory complexity. PLG is a long-standing trusted 
partner of EIT Health.

Commenting on the new collaboration between VCoE and PLG, Isaac Middelmann, 
Head of Access to Finance for EIT Health InvestHealth: "This is a very exciting 
development, which will help cement the opportunities we have set out for 
promising early-stage start-ups targeting the latest challenges and 
opportunities at the cutting edge of life sciences. Access to trusted 
professional services and expertise is as critical to these start-ups as a 
financial investment, as the two go hand in hand."

Jean-Marc Bourez, EIT Health Services & Investment Managing Director, added: 
"Our corporate and VC members are keen to support these young, innovative and 
ambitious companies, and it helps enormously here if the teams coming forward 
have already been vetted and guided through the relevant regulatory 
requirements to bring their therapies to market in Europe. PLG is ideally 
placed to help with that, with its rich knowledge of the regulatory and 
cultural context in each European market, and its detailed understanding of how 
reimbursement works in each country, as well as the complex respective 
requirements around clinical trials."

"We are honoured to be called upon in this way, which fits perfectly with our 
own strategic aim to champion the next generation of European life sciences 
leaders," said Xavier Duburcq, PLG's CEO. "This is all about levelling up the 
opportunity for aspiring start-ups in Europe, compared with other important 
geographic markets such as North America and the Asia-Pacific region."

Gabrièle Breda, Head of Innovation at PLG, added: "Nurturing biotech, MedTech 
and digital health innovation is a core part of our strategy. So it is with 
great pride that we are embracing this prestigious partnership and, through it, 
this invaluable opportunity to help young, ambitious companies navigate the 
market complexities effectively and efficiently so that they can realise their 
potential without delay."

Both EIT's VCoE and PLG will be taking an active part in the forthcoming Medica 
fair trade <> on November 14-17.

About EIT Health

EIT Health is a network of best-in-class health innovators backed by the EU. We 
collaborate across borders to deliver new solutions that can enable European 
citizens to live longer, healthier lives. As Europeans tackle the challenge of 
increasing chronic diseases and multi-morbidity and seek to realise the 
opportunities that technology offers to move beyond conventional approaches to 
treatment, prevention and healthy lifestyles, we need thought leaders, 
innovators and efficient ways to bring innovative healthcare solutions to 
market. EIT Health addresses these needs. We connect all relevant healthcare 
players across European borders – making sure to include all sides of the 
"knowledge triangle", so that innovation can happen at the intersection of 
research, education and business for the benefit of citizens.

About the Venture Centre of Excellence

Through the VCoE, members join an exclusive community of selected venture 
capital funds and private investors thereby boosting the flow of investment 
directed towards European life science start-ups, SMEs, and Small Mid-Caps by 
matching fund managers with pharma corporates and other interested strategic 
investors. The VCoE addresses the specific interest of its members to access 
open innovation, by increasing their co-investment capabilities and 
opportunities for strategic collaborations in highly innovative European life 
science start-ups. Programme members will be able to share these start-ups 
themselves, and EIT Health will also vet start-ups from its network to present 
to members, including thanks to an exclusive artificial intelligence-based 
platform developed by Skopai, the VCoE's technical partner.

About ProductLife Group (PLG)

ProductLife Group's mission is to improve human health by delivering regulatory 
compliance services for the safe and effective use of medical solutions.
Since almost 30 years, PLG supports clients through the entire product life 
cycle, combining local expertise with global reach spanning more than 150 
countries. It provides consulting and outsourcing services in the areas of 
regulatory affairs, quality and compliance, market access (pricing & 
reimbursement), vigilances and medical information, covering both established 
products and innovative therapeutics & diagnostics.
With a goal of continuously improving the value delivered to people and 
customers, PLG is committed to long-term partnership, innovation, flexibility, 
and cost efficiency.

For more information, visit

Fabrice Galzin
ProductLife Group Head of Marketing
+33 675 349 606

Source: ProductLife Group