9 October 2013 -- UK biotech is flourishing thanks in significant part to the Biomedical Catalyst, the coalition government’s transformative stimulus scheme for SME life science companies, a new report published by the BioIndustry Association (BIA) today shows.
The report highlights that over 100 business-led projects in the UK are now accelerating the translation of innovative scientific and medical research into therapies that can be used by patients and sold around the globe.
Steve Bates, Chief Executive Officer of the BIA, said:
“Life science companies right across the UK are responding to today’s health needs developing new vaccines, cancer treatments, antibiotics and advanced therapies.
“There are now over 100 successful business-led projects which have been able to attract and leverage significant amounts of private capital into the life science sector in the UK thanks to the Biomedical Catalyst.
“The success of the Biomedical Catalyst scheme shows the impact that targeted, timely and appropriate industrial strategy can have on jobs and growth in the UK. It is a model for other sectors. My members credit the Technology Strategy Board for delivering a speedy, timely and business-friendly process that has made a real difference within 18 months.” The report shows that:
- Over £120 million has been awarded thus far, over £80 million of which is to support innovative business-led research;
- Almost £70 million of additional project-specific private capital has been leveraged into the UK alongside grants; - 25% of the business-led projects are collaborative in nature;
- Projects across all parts of the UK are being supported.
The report showcases projects from eight companies in Oxfordshire, London, Manchester, Scotland, Cambridge and Sheffield. These are Absynth Biologics, Autifony Therapeutics, Cyclacel, Immune Targeting Systems, ImmBio, Intercytex, Sentinel Oncology and Summit.
The types of research being developed to improve patient outcomes include new approaches to anti-microbial resistance, innovative cancer treatments and novel approaches to manufacturing of advanced therapies.
Key life science investor Kate Bingham, Managing Partner at SV Life Sciences, describes the Biomedical Catalyst as “a great force for good in the UK biotech sector” and says in the report that it has been “one of the most successful UK government stimulus initiatives that I have seen during my 20+ years in the global biotech sector, alongside R&D tax credits”.
The report has been put together by the BIA working in collaboration with BioPartner, Bionow and One Nucleus and will be formally launched at the BIA’s Bioscience Forum in London on Thursday 10 October.
For further information, please contact Zoë Freeman, Public Affairs and Communications Executive, zfreeman@bioindustry.org, 020 7630 2187; mobile 07741 249 902.
The Biomedical Catalyst: Accelerating medical research and leveraging investment report can be found on the BIA website at: http://www.bioindustry.org/policy-and-regulation/biomedical-catalyst
Steve Bates is available for interview and the BIA is happy to facilitate interviews with the companies featured in the report.
BioPartner:
http://www.biopartner.co.uk
Bionow:
http://www.bionow.co.uk/home.aspx
One Nucleus
http://www.onenucleus.com
Technology Strategy Board:
https://www.innovateuk.org
BioIndustry Association
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
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