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British Business Embassy: £29 million booster for UK Life Sciences

2 Aug 2012

During the Olympic Games, Ministers are hosting the Global Investment Conference, launching the British Business Embassy and its series of Global Business Summits. Ministers have announced substantial new funding awards to boost the UK life sciences industry, as UK and international delegates meet in London for the British Business Embassy Life Sciences summit.

 British Business Embassy

 

August 2 is Life Sciences Day with key announcements from the British Business Embassy including:

  • Olympic drug-testing labs to be converted into permanent research centre.
  • £10 million to support academics and SMEs explore the market potential of scientific ideas.
  • £19 million to create four e-health research centres.

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 14 UK universities and 18 Small and Medium Enterprises (SMEs). The awards are from the Medical Research Council and the Technology Strategy Board and will support UK academics and businesses on the first vital step in exploring the market potential of their early-stage scientific ideas.

Minister for Life Sciences David 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.

 

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