Life sciences, a pillar for improving the economic model
Over the years, life sciences, ranging from biotechnology to pharmaceuticals, consolidated as the third economic activity in Catalonia, have become one of the pillars for building a new economic model that distances us from the low-wage formula. In essence, it is about promoting activities that generate a lot of added value or, more precisely, much more value per worker. In short, economic activities that allow productivity to increase. An outstanding subject, although there are signs of improvement, as indicated by the Economic Report of Catalonia 2025, a study prepared by the Catalan Chambers of Commerce.
This analysis confirms that Catalonia, which is growing above the European average, tends to reduce the productivity gap with that of the community club. There are certain indicators that reveal this. For example, GDP per capita has grown by 1.6%, above the euro area average, and productivity per hour worked increased by 1.1% in 2025, compared to 1% in the euro area. And this is an impulse that has been occurring since 2023.
It is also important to highlight that productive investment in 2025 was the most dynamic component of gross domestic product (GDP). And one element that has driven all of this has been the European Next Generation funds, of which Catalonia has been the main recipient in the State, with 10,180 million euros, as announced on Friday by the President of the Generalitat, Salvador Illa. These are resources that, moreover, have an important multiplier effect: for every euro, 1.5 are generated.
A sector that has contributed to the momentum and to steering the ship towards a higher value economy has been life sciences, with a radical change in the last decade. Last year saw a record investment in health companies, with more than 517 million euros, according to data from the BioRegion Report prepared by Biocat. And an important element is that venture capital has been the great protagonist, with 327 million of the total figure for new projects. This is good news, because such specialized capital lands where it sees business opportunities and, therefore, future potential and returns.
And it shows that an important ecosystem of start-ups has been generated, capable of raising funding rounds, as is the case with Ona Therapeutics, which in turn has allowed the establishment of a network of companies specialized in providing capital, as is the case with Asabys Partners. In this context, an investment of 30 million like the one Ona achieved six years ago is now small, after it closed one of 74 million itself and some companies have exceeded 100 million.
Another piece of good news is that the outlook for the current year is also good. Not only are there local funds, but these have also gained the prestige and reputation to attract foreign ones. Now we must continue rowing to make a leap in division, that is, to reach the point where attractiveness and potential bring companies to market or facilitate their purchase by large pharmaceutical companies looking to expand their offering without assuming the risk of the beginning.
