The pandemic exposed the need for global cooperation for public health, and that there’s a lot of money to be made in developing public health solutions, says Justin Pierce, an associate at the law firm Goodwin’s Business Law Department. “We immediately react with a gut instinct to say we’re going to throw everything at this to counter this challenge.” The pandemic posed an existential risk to the human race, which prompted the heavy investments in this field, says Sudeep Basu, practice leader, Innovation Services at Frost and Sullivan. The speed at which mRNA platforms were engineered to develop a panacea for the worldwide pandemic put the spotlight on this highly specialised field of biomedical research. The rise in investments in 2021 came as messenger RNA (mRNA) Covid-19 vaccines, among the first to get authorized, were developed and made available to the general public. This is mostly composed of investment activity coming from organisations providing products and services related to genomics, pharmacogenomics, gene probes, genetic engineering, DNA or RNA sequencing, synthesis and amplification, gene expression profiling, and use of antisense technology.
However, as the world reopened in 2021, investors reacted quickly and FDI levels rose by 18.1%.Īs companies were keen to make up for lost time, most sectors have witnessed a rise in their number of projects, including the nucleic acid therapeutics sector in the biotech space.
The Covid-19 pandemic caused overall greenfield foreign direct investment (FDI) project numbers to decline by 17.5% in 2020.
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