21 January 2013 -- The BioIndustry Association (BIA) welcomes the plans for Rock Spring Ventures to launch a £50 million venture capital fund to invest in life science companies spun out of UK universities.
Commenting on the plans Steve Bates, BIA Chief Executive Officer, said:
"This new funding for fledgling life science companies in the UK is another boost for the UK biotech sector as a whole. I am pleased that Rock Spring Ventures understands the potential value of bioscience in the UK. Their £50 million investment, alongside government initiatives like the Biomedical Catalyst and changes to R&D tax credits and other recently launched venture funding initiatives, demonstrates that there is now an increasingly positive environment for start up life science firms in the UK.
"UK biotech is a sector that is vital to the future prosperity of our country and is a key engine for future jobs and growth in the UK."
For further information, please contact Robert Winder, Head of Communications, firstname.lastname@example.org, 020 7630 2191; mobile 07825 942 934.
Founded over 20 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative enterprises involved in UK bioscience. Members include emerging and more established bioscience companies; pharmaceutical companies; academic, research and philanthropic organisations; and service providers to the bioscience sector. The BIA represents the interests of its members to a broad section of stakeholders, from government and regulators to patient groups and the media. Our goal is to secure the UK's position as a global hub and as the best location for innovative research and commercialisation, enabling our world-leading research base to deliver healthcare solutions that can truly make a difference to people's lives. For further information, please go to www.bioindustry.org