Associations Welcome SME Support in Life Sciences Industry

Life Sciences associations have welcomed the Government's vision for their sector following a speech by Prime Minister David Cameron (December 5),in which he outlined how two new reviews – the ‘NHS Chief Executive
Review of Innovation’ and the ‘Life Sciences Strategy’ - can help drive new innovations in healthcare, whilst supporting a thriving industry at the same time. The Chief Executives of the four trade bodies; The Association of British Healthcare Industries (ABHI), The Association of the British Pharmaceutical Industry (ABPI), The BioIndustry Association (BIA) and The British In Vitro Diagnostic Association (BIVDA), said the proposals will stimulate interest and investment in the UK Life Sciences sector.

A three-year £180 million programme to help life science companies and academia was also revealed. Under the Life Sciences Strategy £90 million of Technology Strategy Board (TSB) funding will be aligned with existing Medical Research Council (MRC) academic translational funding, providing a programme valued at £180 million in support of initial research in universities through to commercial development in SME’s.

Sir John Savill, Chief Executive of theMedical Research Council (MRC) said:

“The MRC welcomes this additional support and we look forward to working with the Technology Strategy Board to promote productive partnerships between MRC-funded scientists and high technology companies, especially small and medium enterprises (SMEs). In particular, the MRC are keen to help SMEs to engage more with clinical proof of concept studies, where partnerships with academic research groups and patient participation are vital.”

Glyn Edwards, interim Chief Executive of the BIA commented; “Specifically the BIA is very pleased to see the Prime Minister commit to a £180 million BioMedical Catalyst Fund; we look forward to seeing the details of this initiative and how it will work to support innovative SMEs facing the 'valley of death' funding gap.” The BIA also welcomed measures to introduce an early access scheme for new medicines and it is also lobbying for the introduction of a Citizens Innovation Fund, a tax free retail investment product targeted at the general public, allowing up to £15,000 per person per annum to be invested in funds which are exclusively targeted at innovative SMEs.

ABHI Chief Executive, Peter Ellingworth noted that the Prime Minister highlighted life science industries as a real growth area with the potential to make a difference to patients through innovation. Measures such as reform to the tariff system, enforcement of NICE guidance and the development of a procurement strategy, if done properly, could make a real difference to the medical technology sector.

“ABHI will work with the Government to make sure that the measures outlined in the Innovation Review are translated into firm actions. The measures could make a real difference to the SMEs in our sector and it is crucial that we are able to take advantage of them and continue to grow. I would now urge the Government to work hard, and at pace, with industry, to get these measures implemented across the NHS,” he said. Other incentives to spur companies to innovate and grow included £75 million of additional funding targeted at SMEs published as part of the government’s Innovation and Research Strategy. Further funding was also outlined for the Smart scheme – previously Grant for Research and Development – in support of SME enterprises engaging in R&D projects from which successful new products, processes and services could emerge. Full details of grant opportunities for companies of all sizes are
available from the TSB.