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Local biotech industry shines despite red tape - BusinessWorld Online

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FILIPINO-MADE biotechnology products show the potential of local research and design despite gaps in innovation policy, according to stakeholders.

“We need to enforce existing laws and place them in a one-stop shop mechanism for tech developers to access, to improve and streamline the licensing process and turn-around time for these breakthrough products,” said Dr. Raul V. Destura, Manila HealthTek, Inc.

With MTek’s technologies funded by government agencies like the DoST and DoH and supported by institutions like the University of the Philippines , there is an opportunity to increase public trust in locally made health products, said Ms. Santos, who stressed the importance of sustainable local production and better regulatory mechanisms.ciency virus drug resistance developed by UP Manila is in the validation stage.

Given limited access to holistic treatment, biotech can help with the global “95-95-95 target” by 2030. Aside from paving the way for personalized medicine, the data will also address the issue of HIV patients skipping or stopping treatment due to side effects, he added.The Department of Trade and Industry’s 2022 Strategic Investment Priority Plan includes biotech-enabled activities, allowing biotechrms to avail of tax incentives and perks under the Corporate Recovery and Tax Incentives for Enterprises Act.

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