The document summarizes an assessment of growth opportunities for the Finnish bio-bank ecosystem. It conducted interviews with biobanks globally to understand best practices, as well as end-users to understand their needs. Key findings include: - Oncology clinical development, genome sequencing, and digital pathology were identified as major growth opportunities. - Interviews found that marketing outreach, defined engagement models, and strategic partnerships are important for customer relationships. - End-user interviews focused on service alignment, criteria for selecting biobanks, and partnership fit. Understanding end-user needs is critical for growth.

1. 1
Growth Opportunities
& Recommendations
for Growth of Finnish
Bio-bank Ecosystem
The Growth Pipeline™ Company
Powering clients to a future shaped by growth
27 May 2020
FUTURE WATCH

2. 2
ABOUT THE STUDY
At Business Finland, we create new growth by supporting companies to go global, as well as funding
innovations. Our top experts speed up the identification of business opportunities around the world and
help transform them into global success stories. Future Watch is part of TF Market opportunities service
and it provides actionable insights from our global network for Finnish businesses and stakeholders.
More information at www.marketopportunities.fi
Business Finland aims to provide early stage insight on trends that define future business
opportunities. Emerging global bio-bank ecosystem has been acknowledged as undergoing
significant changes in the near future and bringing major opportunities also for Finnish bio-
bank ecosystem. In closer discussions with industry stakeholders there was a clearly
identified need to understand the relative competitive positioning of the Finnish biobank
ecosystem. To support in this process, Personalized health program initiated a Future Watch
study on global bio-banking markets. In the study, we identify key trends and their respective
drivers in order to validate future growth opportunities in bio-bank markets as well as study
the areas for improving the positioning and value proposition of the Finnish biobank offer in
global setting. The ultimate aim is to generate insights that will be strategically actionable
for bio-bank stakeholders in Finland.
FUTURE WATCH

3. 3
Introduction
Key Growth Opportunities for Finnish Biobanks
Best Practices Assessment
End-User Assessment
Recommendations
Gap Analysis
FOCUS POINTS – AGENDA

4. 4
ENABLING FINNISH BIOBANK ECOSYSTEM TO BECOME BEST IN CLASS BY DRIVING
COMPETITIVENESS AND REVENUES FROM ASSETS
• Project initiation and Stakeholder Introductions
• Handover/Source of Finnish Biobank Competencies Assessment
Market Assessment: Segment & Country Level Breakdown
• Market Overview, Key Trends, Industry Challenges, Drivers & Restraints, Business Models, Growth Opportunities
• Biobank Market Sizing by Country (Finland, UK, US, Denmark & Sweden), Key Segments (bio-fluids, tissue, DNA/RNA, data etc.)
Competitive Assessment: Biobanks Competency Analysis
• Infrastructure and Assets, Segments Served, Services
• Unique Value proposition and Pricing Mechanisms
Operational Assessment: Pharma Customers Needs Analysis
• Expectations from Pharma Players by Biobank Segments
• Key Selection Criteria for Partnerships and Commercial Relationships
Market Alignment Workshop
• Clients Services, Partnerships
• Competencies and Best Practices
• End-User Perception of leading Biobanks
• Biobank Services in the Pharma Sector: 5-10 year
horizon

5. 5
THE TOTAL BIOBANKING MARKET WILL REACH $54.71 BN IN 2020 AND GROW AT A CAGR
OF 4.5% BETWEEN 2020-2026 TO REACH $71.22 BN IN 2026.
Application
CAGR
(2019-2026)
Research 4.3%
Therapeutics 5.0%
Sample Type
CAGR
(2019-2026)
Bio-Fluids 3.9%
Tissue Cells 6.1%
DNA/RNA 2.6%
Stem Cells 4.6%
Global Biobank Market (Application and Sample)
Therapeutic Applications for Biobanks are Likely to Increase with a
Focus on Biomarkers, Oncology, Chronic Therapies
Biobank Market Trends
• Increase in Genome based research projects leveraging large
collections of bio-data
• Increase in R&D activities using biospecimens in precision
oncology, stem cell research, cell and gene therapies, etc.
• Increase in Chronic Diseases utilizing the large population
based data of biobanks
• Utilization of sample data for research; Data monetization is
the next key value driver for the biobanks
• Legal and Ethical Challenges remain high
• High operational costs for biobanks
• Lack of standardization, lengthy procedures and processes
• Insufficient awareness about Biobanking activities
Drivers
Barriers
The sole purpose of samples is to produce
Biodata enabling patient stratification for
precision medicine and the Biobanks can
make use multiple business models for data
monetization:
1. Research Providers
2. Data Owners
3. Service Providers
67%
33%
Biobank Market by Application
(2019)
Research
Therapeutics
40%
26%
15%
5% 14%
Biobank Market by Sample
(2019)Bio-fluids
Human
Tissue/Tumor Cells
Stem Cells
DNA/RNA
Growth will be Driven by Human Tissue/Tumor Cells and Stem Cells
due to their Novel Therapeutic Applications in rare diseases,
regenerative medicines, targeted therapies, which are the focus of
commercial and academic research globally
Research
providers
Utilizing
Samples and
Sample Data
for research
projects
Data Owners
Access to
Sample Data
is the core
offering.
Service Providers
Utilizing sample data and
technology to provide
additional services.

6. 6
KEY GROWTH
OPPORTUNITIES
FOR FINNISH
BIOBANKS
FUTURE WATCH

7. 7
KEY AREAS THAT WILL DRIVE THE FUTURE GROWTH FOR THE FINNISH BIOBANKS
Biobanks have evolved from sample repository centers to active research partners in personalized
medicine applications
Companion
Diagnostics Co-
Development
Large-Scale Genome
Sequencing Projects
Oncology Clinical
Development
Digital Pathology and
Imaging Services
The global companion
diagnostics market is
expected to reach $8.1
billion by 2023 with a CAGR
of 21.2% between 2017-
2023. By therapeutic area
the oncology segment is
expected to account for
highest growth rate.
The European next
generation genome
sequencing services market
is forecast to grow at a
CAGR of 15.4% from 2016
to 2023 to reach $605.0
million by 2023.
Bioinformatics and
application based services
to provide competitive edge
Immuno-oncology therapies
are key application area in
the oncology therapeutic
category. The overall market
for such therapies is
expected to reach a
revenue of $3.9 billion in
2022.
With increasing need for
digital workflow and
technology for biospecimen
assessment in pathology
cases, digital information
technologies offer the
possibility to track the
entire life cycle of a
biosample
The RWE market has
witnessed a number of
partnership and acquisition
activities as companies aim
to improve their technical
expertise. The focus areas in
RWE solutions include use
of OMICS data, cloud
computing, real time
diagnostics, among others
Real World Evidence
Studies

8. 8
BEST PRACTICES
ASSESSMENT

9. 9
EVALUATION OF THE BIOBANKS GLOBALLY WILL ENABLE THE FINNISH COUNTERPARTS TO
HAVE AN OVERVIEW ON THE BEST PRACTICES
• The Biobanks were shortlisted based on their services provided in any of the five application areas viz. Companion Diagnostics, Genome
Sequencing, Oncology Clinical development, RWE Studies and Digital Pathology
• The Interviews were conducted on telephone and based on a structured questionnaire that had both qualitative and quantitative responses.
• A screening criteria was developed to only include those stakeholders from the Biobank who who were directly involved in finalization of deals
with the end-users
• The interview transcripts will be kept confidential
• The interviews in the table above are the optimum sample size considering the time constraint
• The discussion with the Biobanks was to evaluate their competencies on a large number of parameters including their operational capabilities,
service capabilities, engagement types, pricing model preferences, customer types, marketing activities, application areas, sample and data value
chain, cost drivers, virtual portals and digitization, network participation, regulatory scenario, and collaborations
USA
• All of US Biobank
• NCI Biobank
• UMMC biobank
• Biome Biobank
• Kaiser
Permanente
Research Bank
UK
• UK Biobank
• CIGMR
Biobank
Sweden
• Biobank Vast
• Uppsala Biobank
• KI Biobank
• SMB Biobank
Iceland
• Decode
Genetics
France
• IARC
Biobank
Denmark
• Danish National
Biobank
• Danish Cancer
Biobank
• RBGB Biobank
Austria
• Biobank
Graz

10. 10
A SUSTAINABLE BIOBANK BUSINESS MODEL SHOULD BE OPERATIONALLY EFFICIENT,
SOCIALLY ACCEPTABLE, AND FINANCIALLY VIABLE TO MEET MARKET NEEDS
Service Scope
Biobank
Sustainability
• Biobanks must identify ways to collaborate
with existing customers and potential means
to reach out to new customers.
• Dedicated Marketing Efforts to acquire
potential customers would be significant to
make an outreach
• Biobanks long term operational sustainability
could be based on:
– Financial aspects
– Social Aspects
– Operational Aspects
• Biobanks must identify levers for long term
sustainable operations in the market.
• Prepare robust business planning
• The companies must assess the current state
of the biobanking sustainable levers and the
future potential of the same.
• Diversify offering and funding sources .
• Biobanks should aim for acting as one stop
shop solution providers for the customers.
• Based on expertise in services offered biobanks
must identify ways to partner to enhance
services.
Customer
Acquisition

11. 11
A STRATEGIC FIT, WELL DEFINED ENGAGEMENT MODELS AND ROBUST MARKETING
OUTREACH CAN STRENGTHEN CUSTOMER PARTNERSHIPS
Marketing Outreach
• Biobanks have a dedicated marketing team to
promote about their activities in various forums
• There is a small budgetary allocation for
marketing related activities of the Biobank. While
active participation in conferences is the most
prominent marketing activity by the Biobanks,
print media, social media, etc. are emerging as
new frontiers
• The key focus of the biobanks is to spread
awareness about their activities and areas of
expertise, identify the key areas of collaboration
in terms of samples requirement, data
requirement and open a communication channel
for ongoing outreach
Commercial Partners
• Biobanks globally have struggled to have robust commercial
partnerships especially with Pharma. Key factors include limited
marketing outreach for the customers and lack of defined
engagement models
• Identification of areas of collaboration as a strategic fit is a key
factor to initiate partnerships
• Research area focus such as genomic medicine can be a focus
for a Pharma company where the Biobank can act as a partner
• The focus can also be in advancing treatment and diagnostic in
a specific therapeutic area such as Oncology.
• Strategic Partnership is a preferred model for the Biobanks to
collaborate with the commercial partners with long term
engagement and flexibility in terms and conditions
Academic Partners
• The focus is on advancing medical research in
one or more disease areas such as on Oncology,
Neurology, Cardiovascular and also scientific
expertise in terms of skilled staff and budgets
for research based activities
2-3%
70%
15%
15%
Number of Projects
(2019)
Academic
Institutions
Pharmaceuticals
Others (Biotech,
Healthtech, CSO, etc.
)
Uppsala Biobank engages in 3 different
models with the end-users
• Pfizer entered into a partnership with Olink
proteomics and KI Biobank for Biomarker based
study to identify genetic mechanisms that control
the production of protein
• The goal was to map those proteins which play an
active role in cardiovascular diseases
Customer
Acquisition

12. 12
HIGH OPERATIONAL COSTS AND A SMALL COST RECOVERY UNDERPIN THE FINANCIAL
CHALLENGES FOR BIOBANKS; DIVERSE FUNDING SOURCES AND FEE FOR SERVICE MODELS
ARE KEY SUCCESS FACTORS
Operational Sustainability
• Majority of the Biobanks consider providing both
sample and data based services to the end-users
• Biobanks can differentiate at each step of the
sample value chain by expanding the volume
and variety of biospecimens, state of the art
infrastructure for sample storage and
processing , etc.
• Utilization of the data services for end users will
increase and ease of access to samples,
catalogue of biospecimens, direct contact to the
research team, less turnaround time are some of
the key advantages for such virtual access.
Financial Sustainability
• Financial sustainability is a challenge for a large majority of
the Biobanks
• Risk mitigation plans of such biobanks include expanding
biospecimen portfolio, increasing quality, improving
campaigning strategies to target new customers, profit based
pricing models, long term partnerships with end-users for
sustained biospecimen utilization
Social Sustainability
• Majority of the biobanks consider the participation in networks or
collaborations a key source of differentiation
• Therapy specific networks, regional and international cooperatives,
bioresources repository, etc. are some of these networks. Access to
resources, opportunity to reach out to large clientele, sharing of sample
and data and keeping abreast of the latest trends are major attributes
UK Tissue Directory is the
UK’s register of sample
collections covering
multiple diseases.
UK Biobank has a highly diverse set of funding
sources. Funding includes core funding for sample
storage and management and project based funding
such as in genotyping, imaging studies, and
biochemical markers
Biobank
Sustainability

13. 13
TARGETED THERAPIES AND ACTIONABLE GENE MUTATIONS ARE KEY FOCUS AREAS FOR
ONCOLOGY DRUG DEVELOPMENT AND GENOMIC STUDIES
Oncology Clinical Development
• Increase in research and therapeutic applications
in Oncology is a demand driver for the
biospecimens.
• It can be a key source for commercial partnerships
with the Pharma as the immuno oncology
pipelines for the Pharma is dominated by T-Cell
therapies, checkpoint inhibitors, TNF receptors,
etc. which increases the possibility of sample
utilization, particularly the tissue samples.
Genome Sequencing
• Genome sequencing applications that utilize
the genomic data have helped spur the advent
of precision medicine.
• Disease areas such as Oncology, cardiovascular,
rare diseases, neurology, are major therapy
areas for genomic applications.
• Furthermore recent progress in NGS has enabled
identification of genetic mutations and
development of targeted drugs. For example for
patients with GC, anti-vascular endothelial
growth factor (VEGF)- and anti-human epidermal
growth factor receptor 2 (HER2)-targeted
therapies have become a standard therapeutic
Digital Pathology Applications
• Digital pathology applications are mainly driven by
the increase in the diagnostic tests of all major
sample types and increasing need for digital
workflows technology for biospecimen
assessment
• Imaging biobanks linked to biological samples and
patients’ clinical information can be considered as
a potential area in biobanking.
Biobank Graz is a partner to CBMed, the
Center for Biomarker Research in Medicine
Real World Evidence studies
Utilization of samples and data for RWE study is not yet
mature for the global Biobanks
• RWE studies although currently lesser utilized in terms
of partnerships will grow driven by increase in data
sources and Biobanks competencies on data based
engagements.
• The type of data sources may include Biobank Sample
data, population based cohorts, clinical and disease
registry data, claims data and surveys, genomic data
Service Scope

14. 14
END-USER ASSESSMENT

15. 15
THE SHIFTING INDUSTRY PARADIGM TOWARDS COMMERCIAL PARTNERSHIPS WITH PHARMA, BIOTECH,
CROS, CDMOS AND DIGITAL SOLUTION PROVIDERS IS EXPECTED TO TRIGGER MARKET GROWTH
Stakeholder Organizations Inclusion Criteria Stakeholders Country (Headquarters)
Pharmaceutical Companies
Mid-Size Pharma Senior Medical Director USA (New York City)
Large Pharma Head of Clinical Ops UK (Cambridge)
Large Pharma Head of Research and Development USA (Cambridge)
Biotech Companies
RNA interference therapeutics Head of Regulatory USA (Cambridge)
Focus on Neurological disorders Head of Research and Development France (Lille)
Focus on GI therapeutics Senior Medical Director USA (Cambridge)
Healthtech Companies
Diagnostics (Digital Pathology) Head of Diagnostics Germany (Nussloch)
Drug Discovery Solutions Medical Director Poland (Krakow)
Real World Evidence studies Chief Scientific Officer Switzerland (Basel)
Drug Discovery Solutions Head of Research and Development USA (New York City)
Diagnostics Chief Scientific Officer France (Marcy I-E’toile)
Real World Evidence studies Chief Scientific Officer USA (Virginia)
Precision Medicine Applications Medical Director UK (Cambridge)
Contract Services Organizations
Contract Research Organization Head of Clinical Ops Ireland (Dublin)
Contract Research Organization Head of Regulatory Austria (Vienna)
Contract Development and Manufacturing
Organization
Director USA (Durham)

16. 16
END-USERS ASSESSMENT OF BIOBANKS WAS DONE ON THREE KEY PARAMETERS-
SERVICE ALIGNMENT, CRITERIA FOR SELECTION AND PARTNERSHIP FIT
Source: Frost and Sullivan Analysis
• This section covers the end users
requirement of services from the
biobanks
• Service alignment of the end-
users with the biobanks in terms
of sample and services
utilization, application areas,
data utilization, is discussed
Service Alignment
• This section covers the
assessment of the biobanks by
the end-users
• Capability assessment specifies
the key selection criteria of the
end-users to assess the biobanks
for a potential partnership
Selection Criteria
• This section covers various
factors that contribute to
partnership between the end-
users and the biobanks.
• Assessment fit is analyzed based
on business and pricing model fit
as well as key stakeholder
involvement
Partnership Fit

17. 17
STRATEGIC ENGAGEMENT IS A PREFERRED CHOICE FOR ALL END-USERS AND HEAD OF
R&D EMERGED AS A KEY STAKEHOLDER
Source: Frost and Sullivan Analysis
Type/Topic Pharma Biotech Healthtech CSO
Service Utilization Biomarker Profiling, Genomic
Applications, Targeted
Therapies development
Genomic Applications,
Biomarker studies, Targeted
therapies development
Genomic applications,
Biomarker,
Diagnostics/Digital
Pathology
DNA/RNA applications,
Biomarker studies, Targeted
therapies
Data Utilization OMICS, Clinical, Exogenous,
Remote Care
OMICS, Clinical OMICS, Exogenous, Remote
Care
Clinical
Key Selection
Criteria
Scientific Record, Accreditation,
Population Base, Data
integration
Scientific Record,
Accreditation, Therapeutic
expertise, Data integration
Scientific Record,
Accreditation, Population
Base, Data integration
Scientific Record,
Accreditation, Therapeutic
Expertise, Regulatory
Support
Engagement
Models
Research Provider Service Provider Data Rent Service Provider
Pricing Models Value based pricing, Bundled
Payments
Value based pricing Fee for service, Bundled
payment
Milestone based pricing,
Revenue sharing
Stakeholder
Mapping
Decision Maker: Head of R&D,
Procurement
Influencer: Medial Director,
Marketing
Decision Maker: Head of R&D,
Head of Procurement,
Influencer: Head of Regulatory
Decision Maker: Head of
R&D, Head of Procurement,
Head of Diagnostics
Influencer: Chief Scientific
Officer, Head of Clinical Ops
Decision Maker: Head of
Clinical Research, Head of
Procurement
Influencer: Chief Financial
Officer, Clinical Operations
Director
Marketing
Outreach
Conferences/Symposiums, print
Media- Brochures
Conferences/Symposiums,
Email Marketing
Conferences/Symposiums,
Email Marketing, Print
Media
Conferences/Symposiums,
Print Media- Brochures

18. 18
GAP ANALYSIS

19. 19
WHILE SAMPLE UTILIZATION OF THE FINNISH BIOBANKS IS AT PAR WITH GLOBAL
STANDARDS; IMPROVEMENTS TO CUSTOMER ACQUISITION STRATEGIES ARE NEEDED
Customer
Acquisition
Working with a diverse
customer type
Well defined engagement
models
Robust Marketing and business
development activities
Service
Scope
High Utilization of Samples
Balanced between disease and
population based studies
Balance between research and
therapeutic based studies
Balance between Academic and
Industry based studies
Strong Moderate WeakBest practices
Finland UK USA Sweden Denmark
Source: Frost and Sullivan Analysis

20. 20
Service
Scope
Companion Diagnostics
Oncology Clinical Development
Genome Sequencing
RWE Studies
Digital Pathology
RWE STUDIES CAN ACT AS A COMPETITIVE ADVANTAGE FOR FINNISH BIOBANKS WHILE
STRENGTHENING CAPABILITIES IN DIGITAL PATHOLOGY AND COMPANION DIAGNOSTICS
Source: Frost and Sullivan Analysis
Finland UK USA Sweden Denmark
Strong Moderate WeakBest practices

21. 21
Financial
Sustainability
Availability of diverse funding
sources
Well defined pricing models
Operational
Sustainability
Highly developed facilities for
sample management
Highly proficient data services
to end-users
Digitization capabilities
One-Stop Shop solutions
FINNISH BIOBANKS ARE WELL POSITIONED AS ONE STOP SHOP PROVIDERS HOWEVER
THERE IS A NEED TO WORK WITH WELL DEFINED PRICING MODELS FOR FINANCIAL
SUSTAINABILITY
Source: Frost and Sullivan Analysis
Finland UK USA Sweden Denmark
Strong Moderate WeakBest practices

22. 22
Social
Sustainability
Regulatory Scenario
Favorable Government Policies
Participation in regional and
international networks
GOVERNMENT POLICY AND REGULATORY STRUCTURE ARE KEY STRENGTH FOR FINNISH
BIOBANKS; GREATER PARTICIPATION IN REGIONAL AND INTERNATIONAL NETWORKS
WILL ENHANCE THEIR COMPETITIVE STANDING
Source: Frost and Sullivan Analysis
Strong Moderate WeakBest practices
Finland UK USA Sweden Denmark

23. 23
RECOMMENDATIONS

24. 24
FINNISH BIOBANKS CAN FOCUS ON SIX KEY RECOMMENDATIONS AS A PART OF THE
TRANSFORMATION PROCESS
Source: Frost and Sullivan Analysis
04
01
02
03 05
06
Developing Brand
Finland: Leverage the
core competencies of
the Finnish
Healthcare landscape
to distinctively
communicate the
brand Finland for
Biobanking activities
Enabling Digitization
and Data Services
Strengthen the
capabilities in data
services offerings to
the end-users and
access through digital
platforms
Create sustainable
revenue streams:
Finnish Biobanks must
look for opportunities
to reduce
dependence on short
term funding models
and seek means to
have continuous
funding structures
Increase linkages
between biobanks
and industry
Finnish Biobanks must
look out for
opportunities and
increase visibility to
engage more with the
commercial partners
and stand out ahead
of the competition
Capacity Expansion
Finnish Biobanks can
focus on expanding
sample variety,
sample management
services and
Ease of doing
Business:
Regulatory and Policy
measures to improve
the initiation and
execution of
biobanking
collaborations in
Finland

25. 25
BIOBANKS SHOULD INVEST IN TRACKING TRENDS AND IMPROVE WEB PRESENCE;
MARKETING BUDGET SHOULD RANGE BETWEEN 2-3% OF TOTAL REVENUES
Source: Frost and Sullivan Analysis
FINBB, Biobanks
MEDIUM
TERM
(1-2 years)
Devise Engaging Communication Strategies
• Employ Dedicated marketing personnel for sales promotion and commission a budget for
marketing activities (~2-3% of the total)
• Develop metrics to track trends and run targeted marketing campaigns. Trends such as the tracking
of sample usage, solicit feedback from customers, community engagement, shipping trends,
distribution trends, and so on
• Adopt multi-channel marketing approach. Leverage print media such as brochures, flyers,
newsletters, social media, email marketing, SEO, Adwords
• Highlight the key strengths in the marketing pitch. Biobank infrastructure and case examples of past
end-user experience can be leveraged in the marketing materials
Improve Web presence
• Create interest and showcase service offerings on the web. Features can include list of projects
handled, details of service offerings, sample information, infrastructure details, number of visitors to
sites, key contacts, etc.
1 Marketing and Business Development activities
Developing Brand Finland
Responsible
Stakeholders
Expected
Timelines
NEAR TERM
(6-12
months)

26. 26
HIGHLIGHT THE KEY STRENGTHS OF FINNISH HEALTH LANDSCAPE THROUGH AN
INNOVATION PLAYBOOK
Source: Frost and Sullivan Analysis
FINBB
MEDIUM TERM
(1-2 years)
Create a comprehensive repository highlighting Finnish Competencies
• Highlight key competencies in the area of digital health, data assets, population cohorts,
scientific resources, country vision and policies, research infrastructure, key contacts in health
industry and so on.
• Feature interviews, anecdotes, case examples that demonstrate the proficiency of the Finland in
healthcare innovation
• Update annually with the key insights and research in healthcare activities in Finland that
leverage the Finnish competencies and provide an overview of the latest activities in healthcare
research
• Showcase and distribute through conferences, electronic media such as mails, and snippets
can be communicated through online platforms such as Twitter, LinkedIn to generate interest
about the content in the audience.
2 Health Innovation Playbook
Developing Brand Finland
Responsible
Stakeholders
Expected
Timelines

27. 27
TARGETING THE RIGHT DECISION MAKER, ENGAGING THE INFLUENCERS AND
INCREASING VISIBILITY ON COMMUNICATION CHANNELS WILL BE KEY TO SUCCESSFULLY
ENGAGE WITH COMMERCIAL PARTNERS
Source: Frost and Sullivan Analysis
Biobanks
MEDIUM TERM
(1-2 years)
Target the right stakeholders
• Commercial organizations have different levels of decision makers and influencers that guide
the biobank selection process
– Research/Pharma- Head of R&D and Head of Procurement are key decision makers.
Influencers include Head of Clinical Ops, Medical Directors, Head of Marketing
– Biotech- Head of R&D and Head of Procurement are key decision makers. Influencers
include Head of Regulatory, Medical Directors
– Healthtech- Head of R&D, Head of Procurement and Head of Diagnostics are key decision
makers. Influencers include Chief Scientific Officer, Medical Director, Head of Clinical Ops
– Contract Development Organizations- Head of Clinical Research and Procurement are key
decision makers. Influencers include Commercial and Financial stakeholders
Increase visibility on communication channels
• Participate in major exhibitor conferences where commercial stakeholders participation is high.
For example Biobanking and Regenerative Medicine Congress, ISBER Annual
meetings, etc.
• Utilize media channels as per the preference of the end-users, such as print media and
exhibitor conferences (Pharma), exhibitor conferences, e-mail marketing, print media (Biotech,
Healthtech and CSO)
1 Stakeholder outreach
Increase linkages between biobanks and industry
Responsible
Stakeholders
Expected
Timelines
NEAR TERM
(6-12 months)

28. 28
ENGAGING WITH CSOS AS STRATEGIC PARTNERS, PHARMA & HEALTHTECH AS
CUSTOMERS AND PARTICIPATION IN NETWORKS WILL BE THE WAY FORWARD
Increase Participation in regional and international networks
• Network with global biobanks, share learnings and best practices in focused areas, samples &
data sharing, reach out to industry stakeholders, and market the capabilities of the Finnish
biobanks
• Prioritize such networks based on the complimentary fit of the Finnish Biobank capabilities with
the objectives of the network. For example EuroBioBank is a partnership of more than 25
Biobanks globally in the area of rare diseases, BCNet is primarily into cohort building and
network, p3g is a non profit consortium dedicated to research in the area of human population
genomics.
Biobanks
MEDIUM TERM
(1-2 years)
FINBB
LONG TERM
(2-3 years)
Lay out the terms of engagement
• Identify small to mid-tier pharma emerging in Europe due to high clinical trial volumes and
assess alignment with Finnish capabilities in niche therapeutic areas
• Collaborate with CROs and CDMOs as strategic partners because Biotech/Pharma outsource
cell bank activities to CROs and CMOs for meeting timelines and advanced technology
requirements
• Enhance strategic partnerships with informatics solution providers to provide XaaS. Identify
Healthtech companies (Drug discovery, RWE, etc. ) based on data utilization
• Define the engagement models for all the projects with commercial or academic partners.
Models can be based on the length of partnership, service requirements (sample and data), and
internal resources of biobanks utilized
2 Engagement model with end-users
3 International Collaborations
Increase linkages between biobanks and industry
Responsible
Stakeholders
Expected
Timelines

29. 29
LEVERAGE FINGEN STUDY TO OFFER PERSONALIZED & TARGETED SERVICE OFFERINGS TO
DIVERSIFY FUNDING SOURCES AND CREATE CUSTOMIZED PRICING MODELS
Source: Frost and Sullivan Analysis
Develop well defined pricing models
• Finnish Biobanks need to move beyond arbitrary pricing of samples and data and need to adopt
different pricing models; value based pricing, fee for service, bundled payment, revenue
sharing and milestone based pricing
• Allocate prices based on the market demand for the samples, rarity of the samples, severity of
the disease and timely availability to end-users. Additional services such as consulting,
regulatory support, etc. can also be priced as a part of the whole offering
FINBB, Biobanks
MEDIUM TERM
(1-2 years)
FINBB, Biobanks
MEDIUM TERM
(1-2 years)
Diversify the sources of funding
• Adopt learning's from the global best practices such as UK Biobank to expand on funding
sources and reducing dependency on short term academic funding or sole commercial partners
• The potential sources are: commercialization of research results, products, and services (e.g.
intellectual property royalties, consultancy fees, assay and tool development, sample analysis),
Private funding (e.g. pharmaceutical companies), Public funding (e.g. national government,
research grants), donations etc.
• Leverage the Finngen study to gauge the requirements of end-users for sample and data
services; generate projects with partners for biomarker studies, patient recall studies, targeted
therapies, among others as an extension to the national initiative
1 Multiple Funding Sources
2 Pricing Models with the end-users
Create Sustainable Revenue Streams
Responsible
Stakeholders
Expected
Timelines

30. 30
FINNISH BIOBANKS CAN INCREASE THE VARIETY OF DATA SUBTYPES NAMELY
EXOGENOUS & REMOTE CARE; UTILIZATION OF DATA SERVICES HAS HIGH COMMERCIAL
POTENTIAL
Source: Frost and Sullivan Analysis
Strengthen the One-Stop services through Fingenius portal
• Enhance the features of the portal such as easy login details, lesser complexity in access of
sample information and data, less complicated navigation for additional features, contact details
of the Biobank personnel, frequent updates of the Finnish Biobank activities and so on.
• Identify a data sharing network for repository hosting of biomedical data based on several
performance attributes like de-identification, data quality control, application of meta-data and
identifiers, flexibility of access and long term preservation
• Identify clinical research aggregation platforms which host health data originating in a non-
research context including clinical trial registries, databanks, peer-reviewed medical journal, and
omics directories . This shall enable Fingenius to offer data driven value added services
Biobanks
MEDIUM TERM
(1-2 years)
FINBB, Biobanks
NEAR TERM
(6-12 months)
Increase the data variety
• Expand the data collection from the donors and increase the variety of data types viz.
Exogenous data, Clinical/Dx data, OMICS data and remote care data. Data collection can be
done from a variety of sources such as patient questionnaire, physical activity monitoring,
environmental measures, health outcomes studies, imaging data, genotyping data and so on.
• Explore the data rent model under which the Biobank can grant temporary access to data to the
end-users while keeping the ownership of the data with themselves. Utilization of data services
is high for the Pharma and the Healthtech segment.
1 Expand data services
2 Enhance digitization capabilities
Enabling Digitization and Data Services
Responsible
Stakeholders
Expected
Timelines

31. 31
FINNISH BIOBANKS CAN INCORPORATE TOOLS FOR EFFECTIVE NETWORKING AND
RESOURCE SHARING IN MAJOR THERAPY AREAS SUCH AS ONCOLOGY OR GENOMICS
Source: Frost and Sullivan Analysis
Biobanks
MEDIUM TERM
(1-2 years)
Develop capabilities in Oncology, Genomics and RWE
• Oncology Clinical Development: Focus on precision oncology areas such as molecular signature,
mutation pattern analysis, immunotherapy, etc. Furthermore the Biobanks can also look for
expanding areas in Oncology such as molecular and genetic epidemiology (cancer causation),
molecular pathology, and pharmacogenomics/pharmacoproteomics. Biobanks can also
leverage their expertise in Oncology by incorporating tools for effective networking and resource
sharing between biobanks. Examples include Minimum Information about Biobank Data
Sharing Model (MIABIS 1.0/2.0), European Committee for Standardization (CEN) norms and
Sample PREanalytical Code (SPREC)
• Genomics: Next generation sequencing (NGS) will remain a key focus area however Biobanks
should leverage participation in networks such as European Bioinformatics Institute (EMBL-EBI).
Other potential research areas for Biobanks to explore include but not limited to single cell
transcriptome analysis , tumor neoantigens from NGS data, among others.
• RWE is a potential opportunity for the Finnish Biobanks however the utilization of biosamples
and biodata for such studies is currently low and likely to grow further. Finnish Biobanks can
position themselves as leaders in the category due to existing robust data infrastructure such
as registries, population cohorts, patient records, and digitization of data.
• Cdx presents a host of opportunities for the Finnish Biobank to develop capabilities especially in
areas such as immunohistochemistry, in-situ hybridization, RT-PCR, gene sequencing, etc.
1 Focus on identifying the levers in growth opportunities
Capacity Expansion
Responsible
Stakeholders
Expected
Timelines

32. 32
BIOBANKS NEED TO CONSIDER CONTINUOUS UP-GRADATION OF EXISTING SAMPLE
MANAGEMENT SOLUTIONS TO HANDLE NEXT GENERATION HIGH-VALUE, LOW-VOLUME
PERSONALIZED THERAPIES
Source: Frost and Sullivan Analysis
Invest in strengthening sample management infrastructure
• Investing in state of the art equipment for next generation therapies that require cold chain
handling, traceability, on-site storage and handling, and workflow coordination.
• Adopting best practices for Automated sample handling, tube-scanning, cryopreservation units,
LIMS data management systems, temperature controlled freezers, liquid nitrogen storage
systems, track and trace technologies, remote monitoring of samples, DNA/RNA aliquoting
Biobanks
MEDIUM TERM
(1-2 years)
Biobanks
LONG TERM
(2-3 years)
• Utilization of AI based technologies is a key to seize growth opportunity within the Digital
pathology segment. The use of whole slide imaging technology has further increased the use of
AI and ML tools in digital pathology. Key growth levers that propel use of AI in digital pathology
include diagnostic pathology, deep learning system applications, and integration of advanced
algorithms & computer aided diagnostic techniques (CADx/CADe).
• Collaborate with key digital pathology companies in Europe such as Philips, Symex, Inspirata,
Leica Biosystems, Perkin Elmer, etc. and participation in major events such as Digital pathology
Congress
2 Automation in handling various sample types
Capacity Expansion
Responsible
Stakeholders
Expected
Timelines

33. 33
FINNISH BIOBANKS NEED TO INVEST IN HUMAN CAPITAL TO ENHANCE LEGAL, SCIENTIFIC
AND DATA SCIENCE EXPERTISE ENABLING COMMERCIAL PARTNERSHIPS
Source: Frost and Sullivan Analysis
Biobanks
MEDIUM TERM
(1-2 years)
Invest in building human capital in Biobanks
• Invest in hiring and retaining talent for managing activities in operations and for marketing and
promotion. This includes marketing mangers and personnel with prior experience of working
with commercial partners
• Include a board of management with highly skilled and scientific resources as members or
advisors who act as subject matter experts in the areas of data management and analysis
• Hiring of legal experts in order to manage the contracts with the partners, conversant with the
legal implications of the regulatory frameworks in both Finland and international
• Hiring of data scientists who can act as data guardians to ensure privacy and data security , and
manage functions that include but not limited to data standardization, use of analytical tools
such as NLP, etc. for biospecimen annotation
3 Increasing human capital
Capacity Expansion
Responsible
Stakeholders
Expected
Timelines

34. 34
Draft a robust project management plan
• Develop a robust project management plan and standard operating procedures (SOPs) with
details of activities, stakeholder responsibility for the activities, delivery timelines, current
status, work breakdown structure (WBS).
• Having established Ongoing communication with the end-users and updates about the project
status are of importance to the end-users.
FINBB, Biobanks
MEDIUM TERM
(1-2 years)
Biobanks
NEAR TERM
(6-12 months)
EASE OF INTERPRETATIONS OF LAWS SUCH AS ACT OF SECONDARY USE AND BIOBANK
ACT AND USE OF SOPS, WBS IN PROJECT MANAGEMENT WILL ENHANCE BUSINESS
EFFECTIVENESS OF THE FINNISH BIOBANKS
Source: Frost and Sullivan Analysis
Simplification and ease of interpretation of laws
• Although the current Biobank Act is unique to Finland to provide a set of guidelines to govern the
Biobanking activities, there is a need for better dissemination of laws in the area of broad
consent, sample procurement and data sharing by the Biobanks
• The introduction of Act of Secondary use of Data and laws related to national genome strategy,
will enable researchers and service providers to collect, process data from different Finnish
registries for broader use in Health such as personalized medicine, public health programs, etc.
• In order to ease the interpretation of these laws , the Biobanks and FINBB can focus on ways to
reach out to the research partners with knowledge modules, courses, hold seminars or webinars
with FAQs on data access and application in research in context of the laws applicable
1 Regulations and Policies
2 Project Management
Ease of doing Business
Responsible
Stakeholders
Expected
Timelines