New incentives should be explored to encourage innovation in life sciences, especially in areas where the traditional model of incentives might not be working or sufficiently encouraging the development of medicines that society needs.
It was fantastic to see the launch of the Medicines & Diagnostics Manufacturing Transformation Fund which aims to boost economic opportunities, innovation and health resilience by supporting medicines and diagnostics manufacturing investments in the UK.
Respiratory viruses such as SARS-CoV-2 often catalyse an overactive immune response that leads to a life-threatening cycle, known as a cytokine storm. Analysing cytokine responses from patients has unearthed glaringly important differences in how SARS-CoV-2 affects cytokines compared to other common respiratory viruses.
Last month, the BIA hosted a webinar to delve deeper into the impact of the National Security and Investment Bill on the UK life sciences sector and hear from members about their concerns. In this blogpost, we provide answers to the remainder of questions which came up in the session.
New data released today by the BIA and Clarivate reveals that 2021 is on track to be another record-breaking year for UK biotech investment. More than £830m in fresh capital was raised in the first quarter, almost matching the £894m raised in the first half of 2020, which itself was a record-breaking year.
A continuation of regulatory flexibilities deployed during the coronavirus crisis and the introduction of clear guidelines on the use of patient data in health research initiatives can help incentivise innovation in life sciences, legal experts have said.
FUJIFILM Corporation is investing $83m to expand microbial production capacity of FUJIFILM Diosynth Biotechnologies in the UK. This will triple the plant’s current capacity of microbial production and it is fantastic to see an established international player like FUJIFILM making such a significant investment in its manufacturing capability in this country.
The National Security and Investment Bill, introduced in the House of Commons on 11 November 2020, seeks to establish a new national security and investment regime which gives the Government the necessary powers to scrutinize and intervene in business transactions to protect national security. This new regime could have a significant impact on the UK life sciences sector, subjecting investment in the industry to scrutiny. The BIA has been working with its members, parliamentarians, and government to ensure the regime works effectively and to mitigate any negative impacts.