Patients across the UK are set to benefit from cutting edge medical advances and treatments as the government invests £260 million to support research and development, as well as the manufacturing of new drugs, devices and diagnostics.
Of the funding announced, up to £200 million will be invested to enable research to better access NHS data through Trusted Research Environments and digital clinical trial services. This will make crucial data more securely and quickly available for research, while offering the highest levels of privacy. It will also ensure that the NHS will be able to deliver new life-saving treatments to patients faster, and will support more diverse and inclusive clinical research to tackle health inequalities and improve patient care.
A further £60 million will support commercial-scale manufacturing investments by companies at the leading-edge of innovation, from cell and gene therapies and earlier and better diagnostic technologies, to medical devices.
The funding for manufacturing investments will be distributed through the new Life Sciences Innovative Manufacturing Fund (LSIMF), following the success of the earlier Medicines and Diagnostics Manufacturing Transformation Fund.
The fund will help support the growth of the UK’s life sciences sector while also supporting the government’s levelling up agenda by creating jobs and ensuring the UK continues to be an attractive investment destination.
Business Secretary Kwasi Kwarteng said: “The past 2 years have shown just how important our fantastic medical and life sciences industry is for the UK not only in dealing with the pandemic, but also for the vital economic opportunities they create throughout the country.
“By providing £260 million to boost UK medical manufacturing and medical research, we are ensuring the industry has the support it needs to improve patient outcomes and generate high-skilled jobs while building up Britain’s manufacturing base in the process.”
