Luxembourg opens biotech incubator

The Luxembourg Minister of the Economy, Franz Fayot, announced the launch of an incubator for health technologies in the House of BioHealth, a unique facility offering office and lab spaces, whose expansion is due to be completed in 2021. This new incubator will aim at hosting eight to ten spin-offs and start-up companies. In addition to providing fully-equipped laboratories, the tenant companies will benefit from professional business development support, specific to the health technology sector.

Currently, 450 people work across nine companies and two public research laboratories at the House of BioHealth, which opened in 2015. The facility is the result of a collaboration between the Ministry of the Economy, private investors, as well as an Intercommunal union for the creation, development, promotion and operation of a regional economic activity zone.

One of the success stories hosted by the House of BioHealth is Fast Track Diagnostics, a company acquired by Siemens Healthineers in 2017, specialized in manufacturing of diagnostic kits since 2006. It has recently developed PCR tests. Nearly 6.5 million have been produced since March 2020, and distributed to 120 countries. A part of them was used for the large-scale Covid-19 testing program in Luxembourg.

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