CEO Update: Monday 4 December

Following the launch of the Government’s Industrial Strategy last Monday, it was great to see our sector get national attention. I arranged for the BBC to visit and interview BIA member Oxford Biomedica. Their CEO, John Dawson, appeared on the BBC 6pm news on the day of the launch, commenting on the announcement. This fantastic opportunity shows our sector is centre-stage for a major piece of Government policy.

There will be more this week because as part of the strategy, I expect the UK Government’s Life sciences Sector Deal to be published on Wednesday. I hope it will show how significant investment in innovative new treatments and medical technologies will improve patient lives and drive economic growth in the UK. We plan to comment and update members on the detail as soon as it is published.

In funding news, Innovate UK last week opened the next round of funding for up to £12m through the Biomedical Catalyst, to develop or test innovative ways of diagnosing, preventing and treating disease. Full details of the competition, which closes on 7 February 2018, can be found here.

It was great to see so many of you in Cardiff last week at bioProcessUK. It was a vibrant few days of networking at Cardiff Castle and the National Museum, with stimulating presentations, workshops and panel discussions from our great line up of speakers. I would like to once again congratulate Dr Mark Bustard of CPI for being this year’s recipient of the Richard Wilson Impact Award; and Professor Alan Dickson of The University of Manchester as the recipient of the Peter Dunnill Award, following which Alan delivered a very personal and entertaining lecture. Be sure to set the date for next year’s conference in Edinburgh on 20-22 November 2018 in your diaries. 

Looking ahead to the new year, across Europe the investment industry is preparing for the introduction of a revised Markets in Financial Instruments Directive (MiFID II) on 3rd January 2018. The most significant change under the new rules will be the requirement for fund management companies to explain clearly to their investors how much of their money is spent on research. This will inevitably impact how companies in the healthcare sector communicate with investors. The question facing both sides is not only how to value investment research, but who will ultimately pay for it? Will smaller companies still see the same level of investor access and research? We will be holding a webinar tomorrow at 10am, in partnership with Covington and Consilium, to further explain MIFID II and its practical implications for private and listed companies. Make sure to register here .

Finally, we will be holding our last Brexit seminar of the year next Wednesday 13^th December on the movement of people. I know that this is a key concern for all BIA members and this seminar will provide an opportunity to share concerns with other members and hear from legal and HR experts.

Best,

Steve.