The meeting, which took place on November 27, 2018, was attended by Dr. Esteban Guerra of Benten Biotech, a company dedicated to strengthening the R&D capabilities of global animal vaccine laboratories, and Dr. Fabricio Sarlos of ATGen, a biotechnology company dedicated to providing diagnostic solutions for human healthcare.
During the discussion with the students, the doctors explained how their companies got started, how the industry has been changing, what the biggest difficulties they face are, and what challenges lie ahead.
Dr. Sarlos noted that ATGen was the first biotechnology incubator in Uruguay and that it was founded by Carlos Sanguinetti, coordinator of the Biotechnology program.
Continuing his presentation, he gave an overview of the company’s history, which spans 18 years in the market, and described the changes and ups and downs it has experienced over time, from its beginnings in the development of molecular diagnostic systems, later moving into the production of biopharmaceuticals, then through the period when it was sold to Laboratorio Celsius, and culminating in the current situation where it was acquired by Roemmers.
“Businesses and companies in this sector are dynamic; the rules of the game can change overnight. We are currently considering setting up an accelerator within the company to support entrepreneurs.”
For its part, Benten Biotech was founded by Dr. Guerra and a partner just two years ago has support of the Khem incubator at the Pando Technology Park. “For 14 years, I consulted for laboratories abroad, which gave me an inside perspective on what companies need. Based on that—and because I was tired of traveling—I decided to start my own business.”
“We know it’s not easy because it’s an expensive, high-risk business, but we also have high profitability,” says Guerra, who adds that “the biotechnology industry is growing very quickly; today it has reached a new level of maturity, and we have new tools at our disposal.”
Both business leaders emphasized the importance of going abroad to seek out clients and noted that Uruguay has a very strong reputation from a technical standpoint. “98% of our revenue comes from abroad; otherwise, the project would be unviable,” Guerra stated, while for ATGen, the international market currently accounts for only 15% of its business, but the company expects that figure to reach 50% in the medium term.