BPR: What new products or innovations is Cytiva showcasing at BIO 2024 this year?
BIO is a very important convention for Cytiva. We are really looking forward to speaking with our customers and potential customers about how we can better collaborate and work together to accelerate the development of advanced therapeutics. Just ahead of BIO, Cytiva will launch its new platform designed to accelerate the manufacture of autologous CAR-T cell therapies. The Cytiva team is excited to share more about this latest innovation at BIO.
BPR: What are you hoping to achieve from the event?
Our mission at Cytiva is to advance and accelerate the development of novel therapeutics. One of the benefits of attending BIO is that brings so many people together and provides us with the opportunity to meet and discuss ways we can work together to bring advanced therapies more patients faster.
BPR: How does Cytiva stay ahead of industry trends and developments in the life sciences industry?
Like every company, we have teams dedicated to watching, evaluating, and analyzing the industry trends. Our close relationships with our customers and our frequent communication with them provides us with insights into what is working well and the pain points in their manufacturing processes. It helps inform our business strategy and is one of the things we pride ourselves on at Cytiva.
BPR: What market challenges are impacting the Cytiva business?
While we believe the long-term outlook of the biotechnology market is healthy, the industry is facing some headwinds. There are the macroeconomic risks such as access to capital, higher interest rates, and inflation that are making funding more challenging for some of our customers. Then there are the biopharma-specific challenges. According to Cytiva’s Biopharma Resilience Index, a survey of 1200 global biopharma executives, industry challenges include limited technology capacity and talent shortages that are hindering biomanufacturing; nearly a quarter of respondents said finding and retaining manufacturing talent was a substantial burden; and a third of industry executives report their country is not well adapted or not all adapted to support the roll out of cell and gene therapies.
Cytiva’s Fast Trak Biomanufacturing services is one way we are helping to address capacity and talent shortages. Our portfolio of services is designed to take customers from molecule to market and anywhere in between – from process development to education and training to manufacturing. It’s one of the benefits of working with Cytiva.
BPR: Can you provide insights into any regulatory changes or compliance issues that are challenging for your customers?
Cytiva’s Biopharma Resilience Index also looked at how government policies and regulations impact the biopharma industry. Our survey shows that many executives are generally satisfied with the drug approval process, which is the final step in a year- or even decades-long development program for new therapeutics; however, they also feel that regulatory consultation during development could be more efficient and transparent. It’s one of the challenges that our customers face as they work to accelerate their go to market strategies.
BPR: Can you discuss any plans for expansion or market growth that Cytiva has in the pipeline?
At Cytiva, part of our business review includes looking where and how we can innovate from within and where it makes the most sense to collaborate externally.
BPR: What sets your company apart from competitors in the pharmaceutical industry, and what value do you offer to your customers?
Cytiva is a global provider of technologies and services that advance and accelerate the development of therapeutics. Our customers do work ranging from fundamental biological research to making life-saving vaccines, biologic drugs, novel cell and gene therapies, and new technologies, such as mRNA. Our breadth and depth of expertise, ability to scale up with our customers, services and commitment to sustainability are market differentiators and bring value to our customers.
