CEO Update - 12 June 2023

BIO lookback

It was great to be part of the UK life science community out in force at the BIO Convention in Boston last week. The whole sector was boosted by Quell’s news of its £85 million option and licensing deal with AstraZeneca. It is continued validation of the strength of the UK’s small company ecosystem and the huge potential of cell and gene therapy. Both points were made with vigour by Science Minister George Freeman in his series of high-profile interventions at the show. 

I also was able to help the global community understand how whilst NASDAQ sleeps London is waking up to life science (see last week's blog). I learnt much about US industry views on the Inflation Reduction Act introduced by the Biden administration – something we will do more on this year – and so was not very surprised to see MSD launch legal action against the Federal Government about its provisions. And I’ve also come away from Boston with a renewed sense that Brits based on both sides of the Atlantic are keen on strengthening the community – virtually and in person – and intermingling that talent is ever more important to the success of our sector.

"Amazing science, incredible City of London financing ecosystem, one of the world's top three, and the regulatory freedom in this new landscape."
💬@GeorgeFreemanMP

Lets make 🇬🇧 a #ScienceSuperpower!#BIO2023 https://t.co/COMd4BKm3w

— BioIndustry Association (BIA) (@BIA_UK) June 9, 2023

New UK Biological Security Strategy

The UK government published its new Biological Security Strategy this morning. It contains a number of new commitments to strengthen health resilience to protect the future well-being and economic security of the UK including:

• Launching a real-time Biothreats Radar to monitor threats and risks as and when they appear
• Establishing a dedicated minister for the Biological Security Strategy, who will report regularly to Parliament
• Carrying out regular domestic and international exercises
• Creating a UK Biosecurity Leadership Council, to work with businesses and organisations on the ground.

Deputy Prime Minister Oliver Dowden launching the strategy made clear he sees a key role for small companies as part of this saying “The pandemic demonstrated the sheer ingenuity and innovation of the UK’s Life Sciences sector, including the phenomenal success of the COVID-19 vaccine development and rollout programme. The partnerships forged between the public, private and philanthropic sectors, allied in their determination to defeat the virus, were an unqualified success, saving countless lives.

He added: “The UK is well positioned not just to respond to the biological threats of the future, but to seize the opportunities associated with tackling them - stimulating growth, creating high-tech jobs and attracting investment across the country. As the last five years have shown, this work could not be more important.”

I encourage members to read this serious document and provide feedback. There may be significant SME opportunity here if this is delivered effectively in the coming period, as the US systems of biodefence do. It is clear that this strategy encompasses all of the UK government and has the correct perspective on biological security – but it also shows how hard it is to coordinate the many and various parts of the system that need to effectively work together here. Former UK Vaccine Taskforce Chair Clive Dix has made clear this week where he sees things have gone backwards on vaccines since 2021. I hope that the key opportunity here lies in aligning “team UK” around the new leadership council, which must be more effective and have the confidence of all, across government and beyond, which wasn’t the case with the structures and systems that existed as we entered the Covid era and led to innovations like the UK Vaccine Taskforce. It will be interesting to see if the Covid inquiry comes up with proposals similar to those outlined in this strategy in the years ahead.

New Department of Health guidance on the Windsor Agreement for Medicines to Northern Ireland

Also today the UK government have published two announcements relating to the Windsor Framework. This is guidance about how the medicine market for Northern Ireland will work from January 2025. Important details here for those seeking to supply Northern Ireland.

MPs quit and/or choose not to stand again

We’ve seen more drama at Westminster this week with former PM Boris Johnson quitting as an MP ahead of a report by the House of Commons Standards Committee. What you may have missed is that the Life Science Minister in the Department of Health and the man currently negotiating the new VPAS deal Will Quince MP has decided to stand down from Parliament at the next election. Interestingly contrasting leaving statements as Will Quince said: "I have always given my all in every job I have had, but I am acutely aware that I am neglecting the most important job I have - being a good dad to two young girls."

While Boris Johnson said: “I am now being forced out of Parliament by a tiny handful of people, with no evidence to back up their assertions, and without the approval even of Conservative party members let alone the wider electorate.”

SVB UK become HSBC Innovation Banking

Silicon Valley Bank UK has rebranded as HSBC Innovation Banking this week with a new look website and mission. We look forward to working with the team in the weeks and months ahead.

Summer events in full swing

Another busy week for us at the BIA with a great (sold out) Women in Biotech lineup for Wednesday and a great London-centred investment event at the Stock Exchange on Thursday. I hope to see you at one of these events or perhaps at our life science leaders event next week.

 

 

Steve Bates OBE
CEO, BioIndustry Association

More news and updates

A high presence of global pharma company CEOs was complemented on the industry side by Dan Mahony, Lisa Anson, CEO of Redx Pharma and myself for the BIA, as well as representation from the ABPI and ABHI. 

On one level, the Council meets to ensure the delivery of the Life Science Vision (now two years old), but it also has a broader agenda to ensure our sector grows and thrives as one of the key pillars of the Government’s strategy for an innovation economy based on the UK being a science superpower. It’s a key moment when our industry and ministers come together to discuss the challenges and opportunities for UK life sciences, ensuring our industry continues to grow in the UK to deliver jobs and innovative new medicines for the NHS.