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Orion Co., Ltd.
press release
June 3, 2024 at 9:30am ET
Orion develops Finland’s life sciences industry with unique collaborative project
Orion is part of a University of Turku-led project recently funded by Business Finland with €11.7 million. The project aims to strengthen advanced pharmaceutical and life science manufacturing in Finland. The LifeFactFuture project brings together world-class excellence from Finnish life science companies, technology companies and academic researchers. In addition to this collaboration, Orion also has its own parallel project aiming to leverage new technologies in the pharmaceutical industry. The funding decision for this collaboration shows how public funding for research and development enables important university-industry research cooperation. This funding decision is one of the largest decisions received by the University of Turku in the history of Business Finland.
The LifeFactFuture consortium includes the University of Turku, the University of Helsinki, Finland’s leading life science manufacturing companies, and data and technology companies. Additionally, the Finnish Medicines Agency (Fimea) has joined the project to ensure technology development and compliance with medicines law. The goal of the project collaboration is to accelerate the adoption of digital solutions, promote a more efficient use of data, and make Finland the most attractive location in the world for investments in life sciences manufacturing.
In its funding decision for the project, Business Finland stated that the consortium’s unique expertise will help Finland become a strategic and profitable manufacturing nation and improve its position as a hub in the global business ecosystem. The project aims to strengthen the competitive advantage and capabilities of companies in the sector in international markets and increase turnover in both the life sciences and technology industries.
The project creates opportunities for collaboration between dedicated professionals.
The three largest life sciences companies, Bayer, Orion and Revuvity, have their own projects within the consortium. Additionally, the LifeFactFuture consortium also includes the technology sector, with Brightlyworks, Bitium, Darecon, Nokia and Vaisala in the consortium, as well as a wide range of subcontractors. The project links to Bitium’s Seamless and Secure Connected Business Finland Veturi project and the project’s theme of significantly developing operational models to facilitate agile development of medical software (RegOps).
In addition to the collaboration project, Orion is also running its own parallel project aimed at leveraging new technologies and opportunities brought about by digitalization and data analytics, particularly in enhancing data processing. The project’s goal is to leverage information technology, automation, new technologies and effective use of data to better understand and control production processes and develop them. Total funding for Orion’s project is €1 million, of which €600,000 will come from Orion.
The project consists of three main areas:
- Data Utilization Roadmap
- Imaging combined with AI solutions
- Monitoring and Process Control
Juhani KankarnparOrion’s Senior Vice President of Global Operations said the project will contribute significantly to the development of new capabilities and expertise for Orion.
“The LifeFactFuture project focuses on how new technologies can be leveraged to advance pharmaceutical manufacturing. This project is a great opportunity for Orion to actively participate in improving our understanding and capabilities of new technologies to continuously strengthen our competitive position,” said Kankamper.
This collaboration project provides an opportunity to build new networks and forge valuable working relationships with new academic stakeholders. Furthermore, Orion will support Finnish business activities by sourcing services from Finnish SMEs and higher education institutions. The collaboration will share expertise and broaden understanding of the future requirements of the pharmaceutical industry.
Contact Person:
Terhi Olmio, Vice President of Communications
Phone: +358 50 966 4646
terhi.ormio@orion.fi
the publisher:
Orion Co., Ltd.
communication
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR
Orion is a Finnish pharmaceutical company with global operations aimed at building health. The company develops, manufactures and markets medicinal products and active ingredients for human and veterinary use. Orion has a broad portfolio of proprietary medicines, generic medicines and consumer health products. The core therapeutic areas of the company’s pharmaceutical research and development are oncology and pain. The proprietary products developed by Orion are used to treat cancer, neurological disorders, respiratory diseases, etc. Orion’s net sales for 2023 will be EUR 1.19 billion and the company had around 3,600 employees at the end of the year. Orion’s A and B shares are listed on Nasdaq Helsinki.
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