Northway Biotech is proud to announce that our CEO, Prof. Vladas Algirdas Bumelis, has been honored with the prestigious Business Breakthrough Award at the 2024 Life Sciences Progress Awards. This recognition underscores his visionary leadership in developing BIO CITY, an ambitious project set to become Europe’s largest biotechnology campus and highlights his significant contributions to the growth of Lithuania's life sciences sector.
The Life Sciences Progress Awards, organized by Lithuania's Innovation Agency, celebrated the nation’s most groundbreaking achievements in life sciences. The awards recognized Lithuanian scientists, researchers, startups, and companies, with honorees in five categories: Startup Breakthrough, Business Breakthrough, Scientific Breakthrough, Energy of the Year, and Lithuanian Life Sciences Ambassador.
At the event, Minister of Economy and Innovation, Aušrinė Armonaitė, emphasized the transformative impact of the life sciences sector on Lithuania’s economy. She remarked, “These awards celebrate the progress of the life sciences sector in Lithuania. Currently, it contributes about 2.6% to the country’s GDP and is showing strong growth through rapidly developing innovations. We have set an ambitious goal to reach 5% of GDP soon and to become a leader in this field. These awards are proof that we are confidently moving in the right direction.”
Prof. Bumelis received the Business Breakthrough Award for his BIO CITY project, a landmark initiative designed to transform Lithuania into a global biotechnology hub. The project, representing an impressive €7 billion investment, will house world-class research and production facilities and foster collaboration across the life sciences sector. BIO CITY is expected to create over 2,400 highly skilled jobs by 2030 and will span an area equivalent to 15 football fields, making it the largest life sciences campus in Europe.
A major milestone of this ambitious development is the Gene Therapy Centre, which opened recently in Vilnius. This 8,000-square-meter facility, the first of its kind in the Baltic region, was built in just one year and marks a significant step forward for biotechnology in the region. With an initial investment of €50 million, the Gene Therapy Centre will focus on producing cutting-edge treatments for genetic diseases, employing over 100 highly qualified professionals.
The full BIO CITY project will unfold in three phases, with BIO CITY II featuring additional production centers, including a Large-Scale Mammalian Production Centre, a Gene Therapy Production Centre, and a Biotechnology Innovation Hub. By 2030, BIO CITY III will add further specialized facilities for large-scale microbial production, cell, tissue, and organ engineering, as well as 3D bioprinting. This integrated ecosystem will foster world-class research, production, and innovation, strengthening Lithuania’s position as a leader in biotechnology.
President Gitanas Nausėda and Prime Minister Ingrida Šimonytė praised the project for its potential to improve healthcare, create jobs, and drive economic growth, underscoring its importance not only for Lithuania but for Europe as a whole.
“BIO CITY is not just a business venture; it represents a new era for the life sciences sector in Lithuania and Europe. With this project, we are committed to advancing biotechnology and creating meaningful innovations that will improve lives,” said Prof. Bumelis. "We are proud to lead this groundbreaking initiative and to see Lithuania emerge as a global leader in life sciences."
For more information about BIO CITY and our latest developments, please visit [www.biocity.lt].
For further information, please contact:
Vladas Bumelis, CEO and Chairman of the Board vladas.bumelis@northwaybiotech.com