CEO Update: Monday 30 April 2018

I’d like to start the week with a big congratulation to the BIA team who successfully completed their Tough Mudder challenge on the weekend. It was a gruelling race in tough conditions, but they’ve done us all proud and have raised over £1,300 for Parkinson’s UK, our Charity of the Year for 2018. Their fundraising page is still open, so if you’d like to make a last minute donation you can do so here.

Last week, we saw the House of Lords Science and Technology Committee publish their report on the Life Sciences Industrial Strategy, following an inquiry which we submitted both written and oral evidence to last Autumn. The Committee rightly highlights implementation, accountability and buy-in from all parties to ensure an effective industrial strategy for UK life sciences. However, since the Committee took evidence last Autumn there have been significant steps forward in support of that aim. A Sector Deal was announced at the end of 2017 and a new Life Sciences Industrial Strategy Implementation Board established in early 2018, at which I am delighted to represent the UK bioscience sector. The BIA looks forward to working with the government and other stakeholders on the Implementation Board to bring this ambitious strategy to life and secure the UK’s place as a world leader in life sciences. The deadline for expressions of interest for Wave 3 funding through the Industrial Challenge Sector Fund has now closed and we will be communicating back in due course the output of this process and how the BIA community has helped shaped this.

At the end of the week I was also encouraged to see confirmation from government that the UK has ratified the Unified Patent Court Agreement to create a single system for the registration, prosecution and enforcement of patents across much of Europe. This will provide the option for businesses to save time and money, which will be of particular benefit for SMEs, as they will be able to register their patents across the participating countries at reduced cost and enforce them through a centralised court system rather than multiple local courts. The Central Division of the Court with responsibility for life sciences cases is due to be based in London, further cementing the UK’s position as a primary destination for investment. The involvement of the UK judiciary, with their significant expertise, will also be a major advantage to the new system.

In member news, it was fantastic to see Cambridge-based Crescendo Biologics raise over £50m in series B funding – one of the biggest fundraising rounds in the European sector so far this year. This fundraising will allow Crescendo to further develop its pioneering oncology therapeutics, and is a real vote of confidence in the potential of innovative UK biotechs.

I’d also like to congratulate Lisa Anson on her appointment as CEO of BIA member Redx. We’ve worked closely with her for many years, including through her most recent role at AstraZeneca, and I’m sure that she’ll use her wealth of industry experience to take Redx from strength to strength.

In events news, we’ve got a jam-packed schedule this week. Tomorrow we’ve got the first webinar in our new finance series, entitled ‘Introducing the Broker’ that will involve a corporate financier, salesperson and analyst discussing what they do and answering key questions from the world of finance. Register here.

Then on Wednesday, it’s the second meeting of the China Special Interest Group, where we will gain practical advice around obtaining investment from China, and hear some shared experiences from those who have done it before. Find out more and register here.

And finally, on Thursday we’re holding our Annual Lecture at the Francis Crick Institute - an evening with Sir David Cooksey GBE. Sir David has had an illustrious career within the sector and has helped to shape it into what it is today, and I look forward to hearing his insights.  It promises to be a remarkable and fascinating evening so make sure to secure your place if you haven’t already.

Best,

Steve.