A Finnish research company has found a place in Lithuania: attracts not only 5 million euros of investment

One of the fastest growing outsourced preclinical research companies in the Finnish pharmaceutical and biotechnology sector is establishing at the Vilnius City Innovation Industrial Park (VCIIP). Experimentica Ltd not only attracts 5 million euros of investments, but also strengthens Lithuania’s position among countries engaged in innovative research. The company, which carries out exceptional research activities in the world, was interested not only in the attractive location of the park and communication opportunities, but also in the initiative of its operator, Northtown Technology Park.

Having established a subsidiary of the same name in Lithuania in August, Experimentica Ltd started operating at Vilnius University Life Sciences Center, but had the goal of finding a place for research laboratories and offices. On 18th December, Giedrius Kalesnykas, the leading scientist of the company, and Gediminas Pauliukevičius, the head of Northtown Technology Park, signed an agreement that will allow the company to carry out activities at VCIIP, where they will establish in 1,100 sq. m. area.

An exceptional element of success

At its main center in Lithuania, the innovative Finnish company will conduct research on the pathologies of dry eye, diabetic retinopathy, perennial macular degeneration, and the factors that determine the increased vascular permeability.

“These very common diseases can lead to significantly reduced vision and even blindness. Dry eye disease was chosen because of the discomfort it causes and the huge impact on quality of life. By researching such diseases, we help pharmaceutical companies to develop new drugs, ” says G. Kalesnykas.

The niche company operates with pharmaceutical and biotechnology companies in the United States, Western Europe and Asia. Experimentica Ltd also distinguishes the chosen research method on the world market.

“The most important thing is scientific potential. In our research, we focus on the pathological processes that take place during diseases. Our business model is based on the elucidation of the pathological mechanisms of diseases and the attempt to influence them in the direction we want, ” says the doctor of biomedical sciences.

In Lithuania, the scientist sees exceptional opportunities.

“The expansion of activities and the establishment of a research center in Lithuania was prompted by the desire of Lithuanian scientists working in Finland to return to Lithuania, the opportunity to offer company services at a more competitive price and EU structural fund investments to implement the project under the Smart FDI measure “Development and Validation of pre-clinical models for testing advanced therapy medicinal products (PRO-LAGUS) ”, – the decision is explained by the head of the company.

The exceptional performance of Experimentica companies also poses difficult challenges – the biggest of which is human resources.

“Those who want to undertake this scientific creative activity must accumulate and be able to combine theoretical knowledge and scientific insights with practical experimental work. The company encourages employees to improve their scientific careers and provides an opportunity to combine work and doctoral studies, ” G. Kalesnykas emphasizes the uniqueness of his activities.

An example of good practice

Experimentica Ltd is the first foreign investor at VCIIP to attract solid investments of 5 million euros.

“VCIIP, established by Vilnius Municipality in April 2018, successfully started its activities – in August, an agreement was concluded with the operator Northtown Technology Park, and the latter signed a state land lease agreement with the National Land Service with the possibility of long-term sublease. At the same time, the park’s negotiations with investors have already taken place, ” says Gediminas Pauliukevičius, the head of Northtown Technology Park, about the very active first year of the park.

According to him, the opportunity to reach an agreement with an investor in just a couple of months was determined by purposeful efforts and a great desire to invite Experimentica Ltd: “It is an investor who meets our development program with all 10 points and strengthens science and business positions in the country. By cooperating with such a client, we show that Experimentica Ltd has also become a practical proof of how smoothly foreign companies can establish themselves in Lithuania.”

“By implementing this industrial park project, we want to show future investors that everything can be done extremely quickly, without bureaucratic obstacles and in accordance with the foreign business culture. It is really possible to solve all issues quickly using modern technologies – we have reached the moment of contract coordination within 2 months, when such a process usually takes from 6 months to a year “, – the head of Northtown Technology Park was pleased with the successful cooperation.

The Lithuanian capital engineering industry company Poliprojektas is already carrying out the establishment works atVCIIP.

In the near future, Northtown Technology Park plans to build and equip 2,000 sq. m. business incubator for young technological manufacturing companies and researchers. Branches of two research and study institutions will also be established here, where students, researchers and doctoral students will have the opportunity to realize their ideas in cooperation with already advanced VCIIP-based high-tech manufacturing companies. The aim will be to ensure synergy of VCIIP companies – it is planned to establish at least 6 clusters in the territory.