British PM promises £200m injection into the UK Life Science Sector

According to the announcement, this injection will “mobilize £400m of private investment to allow science companies to scale in the UK.” The investment will be used to help companies raise capital, run clinical trials, employ more industrial scientists and upgrade manufacturing capabilities.

Another initiative was announced to continue to fuel the post-Brexit Life Sciences industry, with the launch of a new talent scheme for UK fund managers to attract the best scientists from around the world. This scheme follows Johnson's earlier announcement in the year to develop a new fast track visa route to continue to attract the top scientists.

Steve Bates, CEO of the UK Bioindustry Association stated: “It’s great to see the Prime Minister has reaffirmed the governments commitment to the UK life science industrial strategy to grow companies to scale in the UK.” He added that this was particular good news as in the coming weeks UK based life science venture capital funds look set to lose access to European Investment Bank Money, which has been a cornerstone in providing funds to the sector.

This news comes from the annual Conservative Conference held in Manchester, where there was also announced a new health policy statement promising £13bn in capital investment to be spent on hospitals over the next decade. NHS leaders welcome the news but understandably remain cautious. With emphasis on the upcoming political uncertainty that investment should be delivered not just for short term effects but also considering long term sustainability.

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