A new support fund for innovative firms struggling to access equity finance during the COVID-19 disruption has opened for applications today (20 May). The Future Fund, run by the British Business Bank, will provide convertible loans of between £125,000 and £5m to businesses if they can also secure matched funding from third-party investors.
Commenting on the day of the 100,000 testing target, Steve Bates OBE, Chief Executive of the BIA said: “It’s gratifying to see the Government recognises the major role the UK life sciences industry has played in the collaborative, speedy and innovative national effort to increase testing capability.
Steve Bates OBE, Chief Executive of the BIA said: “UK life sciences companies already working on key elements of manufacturing, through the BIA taskforce, look forward to working with AstraZeneca on the vital development and scale up of the Jenner COVID-19 vaccine.
Responding to the funding announcement at today’s Downing Street COVID-19 briefing by the Health Secretary Matt Hancock, for Imperial College London and Oxford University, Steve Bates OBE, Chief Executive of the BioIndustry Association (BIA) said:
A BIA industry-led vaccine manufacturing group has welcomed today’s announcement by the Business Secretary, Alok Sharma of a £14 million investment pot, to rapidly progress treatments and vaccines. The money announced will support the manufacturing process of COVID-19 vaccines.