Belgium is recognized worldwide as a heavyweight in biotech and medtech. But how can it safeguard this position in an increasingly competitive environment? At BioWin Day 2025, Sam Possemiers, CEO of MRM Health, and Henri de Romrée, Deputy CEO of IBA, discussed this very issue. Their message was sharp: Belgium holds exceptional assets, but its culture of caution and the lack of large investment funds threaten its leadership.
Henri de Romrée (center) and Sam Possemiers (right)
A Culture of the Impossible
IBA, the Walloon pioneer in proton therapy and nuclear medicine, supplies technology used in dozens of hospitals to treat cancer patients. To illustrate what is at stake, de Romrée immediately recalled the company’s origins in Louvain-la-Neuve: “Our founder had one rule: only do things that seem impossible. That motto still drives our strategy today. With 700 employees, we operate under the conviction that we must be faster and better than anyone else.”
This radical ambition explains why IBA has become the world leader in the proton therapy niche. But according to de Romrée, the lesson goes further: “It shows that a Belgian company, even from a small country, can reach the global top. What you need is not only knowledge and technology, but above all a mindset that refuses mediocrity.”
Slowing Down to Speed Up
The story of MRM Health is different, though the underlying logic is similar. Possemiers built his career around the microbiome, a research field studying the relationship between bacteria and health. “When I started, the pharmaceutical sector still saw bacteria mainly as enemies. The idea that they could be healing agents was completely new.”
When the microbiome hype exploded ten years ago, dozens of companies emerged and hundreds of millions in venture capital flowed into poorly substantiated projects. “We consciously chose not to ride that wave,” Possemiers emphasized. “Instead, we spent five years investing in technology, production processes, and fundamental research before presenting MRM Health. That gave us a foundation much stronger than most competitors.”
That strategy paid off. Today, MRM Health is one of the most advanced players in its field, with multiple clinical programs in development and collaborations with international pharmaceutical companies. “By getting the basics right first, we were able to scale up much faster later. That’s why we are a frontrunner today.”
The Obstacles to Innovation
Innovation never comes without challenges. Possemiers outlined three classic bottlenecks: science, regulation, and financing. “Scientifically, we are still at the beginning. It’s clear that the microbiome plays a role in diseases like inflammatory bowel disease and metabolic disorders, but the mechanisms are complex and far from understood. That’s why we work closely with universities and research institutions. We can only move faster if academia moves faster too.”
The regulatory context was equally challenging: “When we started, there was simply no framework for microbiome therapies. We entered into dialogue with the authorities to build that framework together. It was slow and demanding, but it means there is now a workable structure.”
And then there’s financing: “After the initial hype, many investors became cautious. Belgium has strong venture capitalists, but the funds are small. For international growth, you need investments of €50 to €100 million, which are rarely found here. We did manage one of Belgium’s largest fundraising rounds this year, with support from Biocodex and Athos (also behind BioNTech). But structurally, this remains a weak spot.”
De Romrée also recognized the tension between speed and caution: “In a large company, you cannot take risks with patients, so we have teams that avoid risks. At the same time, we set up small teams that are allowed to take risks and experiment. This dual-track approach keeps us agile without jeopardizing our core.”
Partnerships as a Driving Force
Another recurring theme was the role of a healthy ecosystem. For de Romrée, this is central to IBA’s success: “Sixty percent of our components come from Belgian suppliers. We have here an industrial base that is rare worldwide. Add universities that produce top researchers every year, and you have an ecosystem that reinforces itself.”
MRM Health too was born from a network of partnerships: “We are a spin-off from UGent and KU Leuven, embedded in the Ghent biotech cluster. Our first industrial partnership gave us not just funding, but also know-how and production scale. We could never have made that leap alone. Every partnership we engage in accelerates our growth exponentially.”
The figures confirm Belgium’s strength: more than 600 biotech and life sciences companies, nearly 40,000 direct jobs, and pharmaceutical exports that doubled in ten years to almost €100 billion. That makes Belgium the second-largest exporter per capita after Switzerland. Still, the question remains whether this ecosystem is robust enough to withstand global competition.
The Belgian Mentality
Here both CEOs struck a sensitive chord. “We Belgians are often too cautious,” said Possemiers. “We start small, wait until everything is perfect, and only then take the next step. That seems wise, but in a global market it can be fatal. If others dare to jump faster, even with more risk, we fall behind—even if we are scientifically better.”
De Romrée agreed: “In the US, President Kennedy once announced that they would put a man on the moon. If a Belgian politician had said that, he would have been laughed at as megalomaniac. That reflex runs deep in our culture: ambition is often dismissed as boasting. It makes us critical and quality-driven, but sometimes it holds us back.”
They stressed that this mentality affects not only companies but also government. Policymakers hesitate to take big risks or create instruments that ease collaboration across language borders. “We must learn that ambition is not a luxury, but a necessity. In a world where China and the US invest billions in biotech, caution alone is not enough to maintain our place.”
Advice for the Next Generation
Their message to young entrepreneurs was clear. “Dream big,” underlined de Romrée. “Set yourself goals that seem impossible. Only then do you push yourself and your team beyond mediocrity.” He also called for speed: “Move fast. Entrepreneurship is not an academic exercise. Don’t fall in love with your first plan. You must be willing to pivot, make mistakes, and start again. That’s the only way to make progress.” Finally, he stressed the importance of networks: “No one succeeds alone. Find academic partners, industrial allies, and above all, investors who believe in your story. The capital exists, but you have to find it through the right connections.”
Possemiers placed emphasis on other aspects: “Think long term. Set goals for five, ten, or twenty years. Make every decision serve that end goal, so you maintain focus and consistency.” He also stressed quality: “Be the best in your field. In biotech, there is no room for mediocrity—one mistake can sink an entire therapy.” And finally, internationalization: “You don’t build a biotech company for a village or a country. From day one, you’re in a global market. So think globally, bring in foreign investors, and build a company ready for international growth.”
