Sir Christopher Evans had only visited Malta once in transit to North Africa before he sat down to dinner with Malta’s High Commissioner to London Joe Zammit Tabona at a Mayfair restaurant in 2009.
I will base more things here so that when I come over I will be able to see to many projects at once
One of Europe’s leading medical science entrepreneurs, Sir Christopher has established over 45 science companies throughout his career, 20 of which have gone public on five stock markets and registered sevenfold-plus returns on investment. The firms he set up have a combined value exceeding £1 billion (€1.17bn) and employ over 3,500 people.
That evening, he recalls, he was “eavesdropping on Malta”, bombarding Mr Zammit Tabona with questions about the University, the stock market, and the biotech scenario. Sir Christopher lavishly sings the High Commissioner’s praises, describing him as “brilliant, intelligent and well-networked” and a key ally in his new role in Malta.
On Wednesday, Finance Minister Tonio Fenech and Malta Enterprise executive chairman Alan Camilleri named Sir Christopher as the first chairman of the newly unveiled BioMalta Foundation, which has been tasked with establishing and managing a blueprint for the life sciences industry in Malta. It will also oversee the development of the €30m Biomalta campus at the San Ġwann industrial park, which is expected to be completed in 2014.
Building on Sir Christopher’s international connections, the foundation will establish an ‘angel investor network’ to secure private funding for companies willing to pursue biotechnology and pharmaceutical research and development.
“Time is massively at a premium for me,” Sir Christopher told The Sunday Times . “If Joe can put good, constructive people in front of me whom we both think can contribute to Malta, I will make the time to see them. They could be scientists, businesses or investors. I am very impatient – I will base more things here so that when I come over I will be able to see to many projects at once.”
His impatience is largely related to maximising his time, investments and resources as he operates in an industry where “stomach, patience and time” are prerequisites.
Sir Christopher has the benefit of experience of timeframes required for projects to be built, created, financed and commercialised. The Biomalta project will need a 10- to 15-year plan if research, projects and technologies were to be taken to commercialisation properly.
There were ways of speeding things up, he pointed out. Excalibur Fund Managers and Sultan Scientific, two of his own companies which will be represented in Malta by two people (one moved with his family in September) will be able to ensure projects move rapidly. Even then, it will take five to six years for projects to come to fruition.
Sir Christopher said his immediate task was to form the foundation’s board of governors, and talks were being held with internationally renowned figures who could contribute through their knowledge, experience and contacts.
Malta Enterprise, Biomalta and his own representatives will immediately set about formulating the 15-year plan which will be publicly launched next year.
Sir Christopher, who has also been named Malta’s Special Envoy for Bio-sciences, said he will constantly keep the island and its vision in mind on his travels. “When I hear about opportunities I tend to put things into boxes and decide what fits where,” he said. “Biotechnology is very diverse and ranges from diagnostics, pharmaceuticals, to services and healthcare. Malta cannot afford to look at one or two things. We have to look across the board to identify what is appropriate.”
Sir Christopher, who in 2005 was appointed to the UK Stem Cell Initiative by then Chancellor Gordon Brown to advise the UK government, is keen to see Malta pursue this niche. He believes Malta can attract activity on advanced areas of research like regenerative medicine or gene therapy.
Malta, he said, was a “great place to be”, and professionals would consider it to escape big city life. Lower operational costs, efficient tax regimes, and an English-speaking business community presented international industry with attractive incentives to move to the island.
Discussions with the Malta Financial Services Authority and banks are at an advanced stage, and Sultan Scientific will soon launch a €200m Malta-based Global Medi-Science Fund, which he says could raise up to €150m by the year’s end. It will invest in companies with a portfolio of technologies and products with commercial credibility.
Sir Christopher said the MFSA had been very accommodating and supportive of Biomalta’s vision. He is confident the foundation and the regulator will foster a mutually beneficial relationship as the holistic project moved forward.
Married with four teenagers, Welsh-born Sir Christopher is an accomplished scientist recognised by several British universities. He was awarded an OBE at 36 for his services to biosciences and was knighted in 2001.
His name hit the headlines in 2006 when he was arrested after being implicated in the ‘cash for honours’ scandal.
In 2009, the UK’s Serious Fraud Office dropped a four-year investigation into the affairs of his Merlin Biosciences group which was investigated after a referral from the Financial Services Authority.
“Those two incidents were linked but neither came to anything,” Sir Christopher said.
“It was such a waste of time and money defending myself. It was all started by an individual who had been removed from one of our companies and later went off to create this whole fantasy.
“It was insulting and disrespectful, but unsurprising when you have so many activities on the go. I hate the fact it’s there, but it’s part of life.”