UK government provides £90m to support life sciences
Will focus on regenerative medicine, stratified healthcare and emerging medical technologies
UK Prime Minister David Cameron has announced a package of support for the UK’s leading life science companies and academia to enable them to move more quickly from discovery to commercialisation.
The new three-year programme will see the Technology Strategy Board receive additional funding of £90m, which will be aligned with existing Medical Research Council academic translational funding, providing a programme valued at £180m. The Technology Strategy Board and the Medical Research Council will jointly manage the programme.
The aim of the Biomedical Catalyst fund will be to deliver growth to the UK life sciences sector through supporting and driving the development of innovative life sciences products and services.
The fund will focus on areas such as regenerative medicine, stratified healthcare and emerging medical technologies and provide a simple funding scheme to help companies move more quickly to commercial success, revenues and sustainability.
Sir John Savill, chief executive of the Medical Research Council (MRC) said the MRC is keen to help SMEs to engage more with clinical proof of concept studies, where partnerships with academic research groups and patient participation are vital.
The number of organisations involved in the life sciences sector in the UK is increasing and the emerging ‘open innovation’ model of research and development results in companies engaging with the wider research environment. While this encourages creativity and innovation, it also means it is now more important to ensure that public investment is maximised and supports the most promising developments, for both patient benefit and commercial success.
The Biomedical Catalyst fund will link to existing Medical Research Council programmes and Technology Strategy Board activities, providing a set of support and funding options.
The BioIndustry Association (BIA) said a coordinated life sciences strategy could provide a foundation for the future of the bioscience sector in the UK.
Stephen Whitehead, chief executive of the ABPI, said the proposals would contribute towards patients receiving better treatments, more quickly and build the UK's attractiveness as a leading hub for medical and health research.
In a separate announcement, the Technology Strategy Board said 14 r&d projects in regenerative medicines would benefit from nearly £8.5m of funding.
Ten of the collaborative projects will address generic challenges in the development of cell-based therapies, and will lead to demonstrators with commercial applicability. Four projects will engage in the development of regenerative medicine therapeutics.
The investment in the projects, part of the Technology Strategy Board managed £21.5m Regenerative Medicine Programme, will see funding from the Technology Strategy Board, the Medical Research Council (MRC), the Biotechnology and Biological Sciences Research Council (BBSRC) and the Engineering and Physical Sciences Research Council (EPSRC).