£29m funding for UK life sciences
6 Aug 2012
Ministers at the British Business Embassy have announced new funding awards to boost the UK life sciences industry.
Health Secretary Andrew Lansley and Universities and Science Minister David Willetts announced that the first awards totalling £10 million from Government’s £180 million Biomedical Catalyst have been awarded to fourteen UK universities and 18 Small and Medium Enterprises (SMEs).
These awards from the Medical Research Council and the Technology Strategy Board will support UK academics and businesses on the first vital step in exploring the market potential of their early-stage scientific ideas.
Willetts also announced that the Medical Research Council and a consortium of 10 UK Government and charity research funders have invested £19 million to establish four e-health research centres in London, Manchester, Dundee and Swansea.
The new centres will enable the UK to make more effective use of electronic health data - a field with huge possibilities for health care delivery and the understanding of disease.
Willetts said: “The UK has one of the world’s largest and most productive life science sectors. We have cutting edge industries such as biotechnology, pharmaceuticals, healthcare and medical technologies. We attract almost 10 per cent of the world’s pharmaceutical R&D funding.
“The Global Business Summit on Life Sciences will introduce some of the world’s most important and influential sector leaders to see what the UK have to offer.”
The Life Sciences Day is one of 18 global business summits being organised by UK Trade & Investment to promote UK businesses and facilitate international trade during the Olympic and Paralympic Games.
