BIA responds to the House of Lords Science and Technology Committee report on the Life Sciences Industrial Strategy

The House of Lords Science and Technology Committee have published its report on the Life Sciences Industrial Strategy, available here. The BIA submitted written evidence to the inquiry last Autumn and BIA CEO Steve Bates also gave oral evidence to the Committee. You can find the BIA’s written evidence here and oral evidence here.

Reacting to the publication of the report, BIA CEO Steve Bates, said:

“The House of Lords Science and Technology Committee is right to highlight implementation, accountability and buy-in from all parties to ensure an effective industrial strategy for UK life sciences.

"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.

"What we have also seen since this Committee inquiry closed was the outcome of the Patient Capital Review, announced at the Autumn Budget at the end of 2017, setting out a range of measures to release forms of capital into innovative sectors such as bioscience. This is a key priority for the BIA in 2018 and it is great to see a focus in the Committee’s report on pension funds as a source of untapped long-term patient capital for the life sciences sector, and the recommendation to benchmark the UK tax regime against other research-intensive nations to ensure we are internationally competitive.

"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.”

Ends

Contact: Ed Sexton, Communications and Media Relations Manager, BIA esexton@bioindustry.org 02076302196

About the BIA                    

Established over 25 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative enterprises involved in UK bioscience. Members include emerging and more established bioscience companies; pharmaceutical companies; academic, research and philanthropic organisations; and service providers to the bioscience sector. The BIA represents the interests of its members to a broad section of stakeholders, from government and regulators to patient groups and the media. Our goal is to secure the UK's position as a global hub and as the best location for innovative research and commercialisation, enabling our world-leading research base to deliver healthcare solutions that can truly make a difference to people's lives.   

For further information, please go to www.bioindustry.org and twitter.com/BIA_UK

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