CEO Update | 25 October 2021
Comprehensive Spending Review and Budget this week
This week the Chancellor will present the Budget and Comprehensive Spending Review and as ever the negotiations on departmental spending will go the wire. Our latest intelligence suggests the Prime Minister, rather than the Chancellor, will have a final say on the funding for science reflecting the political capital he has personally invested in this area.
As the Prime Minister has said before, the UK biotech and life sciences sector has been crucial to creating the COVID-19 vaccines, therapeutics and diagnostics required to allow the economy to reopen. If we are to avoid lockdowns in the future, increase the number of well-paid high-quality jobs and ensure patients receive the latest innovative medicines and treatments, the sector requires the necessary funding to make this a reality.
The BIA wrote to the Prime Minister last week to highlight the needs of the sector including increasing the budget of Innovate UK and ensuring a long-term funding settlement for the Biomedical Catalyst. Read the BIA’s report ‘Becoming a life sciences superpower’.
Sajid Javid COVID-19 press conference and antivirals announcement
Last week we saw the first Downing Street Coronavirus press conference in many months, with cases rising and winter coming we are approaching a crucial time in the pandemic. While the Health Secretary didn’t initiate the Government’s Plan B, he did make announcements about the purchasing of two antiviral drugs, molnupiravir and ritonavir created by MSD and Pfizer respectively.
Dr Ruth McKernan, Chair of the BIA Board, was quoted in the national press saying: “Prevention is still better than cure but for vulnerable patients who can’t be vaccinated or don’t respond well, post-infection treatment with an oral drug is important. These are the strongest candidates currently available for this winter.” Further information on the antiviral drugs purchased can be found on the Government website.
BIA webinars to support companies with policy environments here at home and abroad
Last week we held an informative webinar on the National Security and Investment Bill, where we were joined by experts from BEIS, the Office of Life Sciences and BIA member company Covington on how the regime will work and what the sector definition of Synthetic Biology might mean for life sciences companies. This was also the final BIA event for our Public Affairs Manager Zainab Gulamali who is moving onto pastures new. I’d like to thank Zainab for her crucial work in understanding the impacts of the regime on companies and the wider sector – which I know has been greatly appreciated by members.
Upcoming webinars include an update on opportunities in China on policy and regulatory change. With the pandemic it has been impossible to engage in person with the Chinese ecosystem but the BIA has a long history with the country, in 2019 the BIA signed a Memorandum of Understanding with the Wuxi International Life-science Innovation Campus (I-Campus) and AstraZeneca in China.
F-Star therapeutics announces licence agreement with Janssen
Great to see BIA member company F-Star therapeutics reach a licence agreement with Janssen to develop multiple antibody therapeutics. Under the terms of the agreement, F-star will grant Janssen a worldwide, exclusive royalty-bearing license to research, develop, and commercialize up to five novel bispecific antibodies directed to Janssen therapeutic targets using F-star’s proprietary Fcab™ and mAb2™ platforms.
EQRx Memorandum of Understanding with NHS England
EQRx announced last week that it has signed a memorandum of understanding (MOU) with the National Health Service in England (NHSE). The MOU signals the intention of NHSE and EQRx to enter into a long-term, strategic partnership to secure patient access to EQRx’s pipeline of innovative and cost-effective cancer medicines, contingent on regulatory approval by the UK Medicines and Healthcare products Regulatory Agency (MHRA) and a positive health technology assessment recommendation by the National Institute for Health and Care Excellence (NICE).
Manchester University’s Royce Institute – Biomedical materials showcase
The Royce Institute will be holding a virtual event on Biofabrication and 3D Printing, as well as to discuss opportunities for access and collaboration. To register for the event please follow this link.