Scaleups are missing out on alternative growth financing
4 min read
Life Science businesses in the Northern Powerhouse are contributing over £10.8 billion to the UK economy each year according to data published today.
The data showed there are 1,000 life and health science companies in the Northern Powerhouse, with 97 per cent of these companies are SMEs providing a strong supply chain for new investors to the region. It was also revealed that these companies manufacture and export over £8.1bn of medicinal and pharmaceutical products per year.
George Freeman MP, Minister for Life Sciences, announced the findings at the BioTrinity Conference in London, saying:
“This data shows that the UK’s £56 billion life sciences industry is a powerhouse in the Northern economy.
“Through our life sciences strategy we are creating jobs, opportunities and security across the North. With its world-leading universities, innovative life sciences companies and millions of NHS patients across the region, the North has unique capabilities with excellent growth potential for international investors.”
The statistics originate from the 2015 Strength & Opportunity Report. The data forms part of a new Northern Powerhouse life sciences brochure created to drive inward investment into the thriving life sciences sector in the North.
The work was commissioned by UK Trade & Investment (UKTI) and was created in collaboration with the Northern Health Science Alliance (NHSA).
NHSA chair, and Vice-President and Dean of The University of Manchester’s Faculty of Medical and Human Sciences, Professor Ian Greer said: “The great universities and NHS organisations of the North have been working collaboratively with each other and industry to establish some of the most advanced facilities populated by world-leading experts in their field.
“Together with a 15 million population there is a massive untapped resource for international investors and industry to work with the Northern Powerhouse for mutual benefit.”
The brochure showcases the world class facilities that the North has to offer such as the £38m National Biologics Manufacturing Centre within the Centre for Process Innovation (CPI) which will host the £20m CPI Biologics Factory of the Future.
The UK Antimicrobial Resistance Centre – a £4 million investment in AMR therapeutics development Medicines Discovery Catapult – worth £4 million the Catapult is a joint private-public initiative to support the development of new antibiotics and diagnostics through a fully integrated development capability, offering translational R&D from pre-clinical hits through to clinical proof of concept at Alderley Park in Cheshire. With over £550 million invested by AstraZeneca in world-class facilities and infrastructure over the past decade, Alderley Park is one of the best invested bioscience R&D sites in Europe.
The North also boasts one of the Europe’s strongest clusters in biological, medical and surgical manufacturing with Eli Lilly, Allergan, Fujifilm Diosynth Biotechnologies, Seqirus, JRI Orthopaedics, and DePuy Synthes based there.
UKTI’s Life Sciences Organisation (LSO) works to bring high quality inward investment into the UK, from the earliest R&D collaborations through to clinical trials, commercial and manufacturing operations. For more information visit the UKTI LSO web page
The Northern Health Science Alliance Ltd (NHSA) is a partnership established by the leading universities and NHS Hospital Trusts in the North of England to improve the health and wealth of the region by creating an internationally recognised life science and healthcare system. For more information visit www.thenhsa.co.uk
The HealthTech North app is available for download on iPad at the apple store
4 min read
14 min read