The UK Government has this week launched its 10 year "Life Sciences Vision". The paper sets out the Government's strategy to build on the successes of the Covid vaccination response and give the UK life sciences industry a long term boost.
The paper recognises that there are many different aspects to this. One area of focus is the role of universities and the NHS in continuing to work together and developing new treatments.
Investors should also take note of how pro-investment the strategy is. A key area of focus is how to support innovative life sciences companies, and in particular the venture capital funds that support them. There is a recognition that in order to compete, early stage UK companies need access to a range of appropriate capital, as seen in this objective:
"Support the development of a world leading UK Life Sciences VC ecosystem, ensuring it has the skills, knowledge and experience to analyse and assess the Life Sciences sector for investment opportunities."
As part of this strategy, the Government has also announced a further £1 billion of new funding, which is designed to crowd in more private capital into the sector.
Post-pandemic UK life sciences start-ups and companies look set to be a continued area of investment and growth for many years to come.
Crucially, we’re going to build a pro-enterprise environment where our life sciences firms can access the finance to grow, are incentivised to onshore manufacturing, and can commercialise breakthrough products right here in the UK - rather than elsewhere – as we cement the UK’s position as a science superpower.