Bio€quity Europe 2025: our key takeaways Our key takeaways from the conference

Last week, the KBC Securities team attended the 25th Bio€quity Europe conference, taking place in Bruges, Belgium. The conference underscored a biotech industry navigating profound complexity, with recurring themes of geopolitical uncertainty, capital market volatility, and the growing influence of Asian innovation.
European biotech was portrayed as resilient and increasingly competitive, with McKinsey highlighting its strong scientific output, rising VC funding, and potential to capitalize on global disruption. Regulatory instability in the US, including FDA staffing issues and drug pricing reforms, was a major concern, prompting companies to diversify trial locations and explore non-dilutive financing. The rise of the NewCo model, where Western firms build companies around Asian assets, was a focal point, reflecting a shift in global innovation flows. Radiopharma emerged as a hot modality, with infrastructure and supply chain challenges becoming central to its scalability. Growth capital was emphasized as essential for scaling European biotechs, though structural limitations in EU funding ecosystems persist.
Leadership discussions stressed the importance of strategic discipline, board alignment, and proactive capital planning, especially in turbulent markets. Throughout, the conference conveyed cautious optimism that Europe, with its capital efficiency, scientific talent, and increasing global connectivity, may be at an inflection point to assert a stronger role in shaping the future of biotech.