BIA calls for action to address this problem and and attract global management talent
The BioIndustry Association (BIA), the trade association for enterprises involved in UK bioscience, has responded to the Government’s Industrial Strategy green paper, calling for action to address the UK’s chronic shortness of scale-up capital and attract global management talent.
BIA estimates that £1–2 bn more of scale-up capital is needed per year for the UK’s bioscience SMEs.
To achieve this, BIA is calling for:
To address the shortage of top management talent, BIA is calling for:
CEO Steve Bates said:
“We need to achieve a sea change in the quantum of capital available to bioscience companies. I hope this will be a core objective of the Patient Capital Review, alongside addressing the short-termism of some investors.”
In its submission, the BIA says that the UK is in a strong position to close the gap on the leading life science clusters in Boston and the San Francisco Bay area.
Oxford Nanopore recently sent its DNA sequencing technology into space with astronaut Tim Peak and Novabiotics, in Aberdeen, is developing new medicines to tackle difficult-to-treat diseases and contribute to the global battle against antimicrobial resistance (AMR).