It was announced last week at a global business summit in London that SMEs and academics working in the life sciences industry, such as pharmaceuticals and healthcare, have been awarded £10m in funding by the Medical Research Council and the Technology Strategy Board.
The idea behind the grants is to allow the businesses and institutions to explore the market potential of early-stage scientific ideas.
Minister for Life Sciences David Willetts said: ”The UK has one of the world’s largest and most productive life science sectors. We have cutting edge industries such as biotechnology, pharmaceuticals, healthcare and medical technologies.
“We attract almost 10 per cent of the world’s pharmaceutical R&D funding. The Global Business Summit on Life Sciences will introduce some of the world’s most important and influential sector leaders to see what the UK have to offer.”
And Mr Willetts also announced that the Medical Research Council and a consortium of 10 UK Government and charity research funders have invested £19 million to establish four e-health research centres in London, Manchester, Dundee and Swansea.
The new centres will enable the UK to make more effective use of electronic health data – a field with huge possibilities for health care delivery and the understanding of disease.
While Prime Minister David Cameron announced that the Olympic drug-testing laboratories, located in Harlow, will be converted into a £10 million world-class research centre.
The MRC-NIHR Phenome Centre, the first of its kind in the world, will use cutting edge facilities developed for London 2012 to help develop better and more targeted treatment for patients, and will enable researchers to explore the characteristics of disease in order to develop new drugs and treatments for patients.
As an accountant; David Jacobs offers a range of accounting, audit and taxation advice to the legal and medical professions.