The BioIndustry Association (BIA) welcomes today’s announcement by the Prime Minister that the UK Innovation Investment Fund has completed the first closing of the £200 million UK Future Technologies Fund.
The UK Future Technologies Fund will invest in venture capital funds investing in life sciences, digital and advanced manufacturing businesses. The establishment of a fund-of-funds was proposed in the Bioscience Innovation and Growth Team Review and Refresh of Bioscience 2015 and taken up in the Office for Life Sciences blueprint.
Clive Dix, BIA Chairman, said:
“The closing of the fund is a significant step towards delivering much needed funding to life sciences companies in the UK and it is important that the fund managers act quickly. The BIA is proud to have worked closely with Lord Drayson and the office for Life Sciences on developing this fund. We now hope that a significant proportion of the fund will be used to help make the UK’s life sciences companies the most successful in the world.”
BioIndustry Association
Established in 1989, the BIA (BioIndustry Association) exists to encourage and promote a financially sound and thriving bioscience sector within the UK economy and concentrates its efforts on emerging enterprise and the related interests of companies with whom such enterprise trades.
With over 300 members, the BIA supports a wide range of sectors, majoring on the human health benefits of the technology and represents the interests of these innovative companies to a broad section of stakeholders from patient groups to politicians, advancing its members interests both within the UK and internationally to create a healthy UK bioscience sector which benefits society. For further information, please go to: www.bioindustry.org.
