CEO Update | 28 March 2022

Chancellor’s Spring Statement

Last week the Chancellor delivered his Spring Statement, where there were key wins for the sector following BIA campaigning. The Chancellor announced that R&D taking place abroad for ‘regulatory and legal reasons’ would still be eligible for R&D tax relief, and it was heartening to hear him mention clinical trials as an example. Our sector will also welcome the R&D tax credit scheme keeping pace with innovation, with the Chancellor explaining how the scheme will now allow for claims for costs related to the storage of vital data and supporting data-heavy research such as genomic sequencing.

The Chancellor also said that the Government is considering increasing the generosity of the R&D expenditure credit (RDEC) but said nothing to suggest reducing it for SMEs or merging the two, which is welcome news. Thank you to all our members who showed their support for our campaign warning the Chancellor not to weaken the SME scheme. Please do read this excellent detailed blog by Dr Martin Turner, our Head of Policy and Public Affairs, for the full implications of the Spring Statement for the sector.

Biomedical Catalyst

The Biomedical Catalyst (BMC) 2022 Round 1 has gone live today with its first round for 2022. The BMC is making £15 million available to SMEs for industry-led R&D projects. The deadline for applications is 25 May.

The BIA was instrumental in securing the launch of the BMC in 2011/12 and made its continuation a key campaign focus. The relaunch was the direct result of consistent campaigning by the BIA and our members. We were keen to ensure that this key source of early-stage funding for life science companies will continue to support the development of new life-changing medical treatments, diagnostics and devices, and underpin economic growth for the future. Read more about the BIA's decade-long campaign. 

Science of COVID conference

I have the privilege of being part of the organising committee, and chairing some sessions at the Royal Society’s prestigious “Science of COVID” conference this week. The meeting aims to explore the basic science, vaccine efforts and diagnostic logistics, treatment and recovery from long and acute COVID, as well as the opportunities gained for the life sciences sector, and how this can be taken forward for future preparedness. The conference is part of the Royal Society's Transforming our future conferences in the life sciences, supported by AstraZeneca. These  meetings are unique, high-level events that address the scientific and technical challenges of the next decade. Each conference features cutting-edge science from industry and academia and brings together leading experts from the scientific community, including regulatory, charity and funding bodies. Registration to this hybrid event will be for the online stream. Registrants will be available to view the event and ask the speakers including Chris Whitty, Patrick Vallance and Özlem Türeci – the Co-Founder and Chief Medical Officer of BioNTech – questions directly via the platform. 

The Medicines Manufacturing Industry Partnership Summer Conference

The Medicines Manufacturing Industry Partnership (MMIP)'s summer conference will take place face to face this year at Redworth Hall, County Durham on 21 June. The conference will focus on manufacturing initiatives within the Life Sciences Vision, the future and how we deliver them.

This year's event promises to be a huge success, with sessions looking at the industry's future strategy, skills, sustainability and much more. The day will also feature optional tours of local manufacturing facilities. Watch out for further information in the coming weeks.

 

 

Steve Bates OBE
CEO, BioIndustry Association

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