IIPM MANAGEMENT INSTITUTE
Though Spain has a number of homegrown pharmaceutical companies, as well as a few companies formed in past decades that focus on biotechnology, the most significant increase in companies formed has taken place in only the last five years.
One of the most prominent examples of this new growth is Genetrix, formed by Cristina Garmendia (who also heads the Spanish biotech trade association ASEBIO). Genetrix spun off from the CNB in 2001, when Garmendia realized that while Spain produces a significant amount of quality research, there were limited paths to commercialization. She came to an agreement with the Spanish Research Council to buy a number of patents. The company began acquiring patents and building a base of widely varied services and research. Today, Genetrix has given rise to seven other spinoff companies.
“When I first joined, a year ago, we had 50 or 60 employees,” says Claudia Jimenez, who is in charge of the company’s corporate development. “We’re already up to 100. And every month there are two or three new faces in the office.”
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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