£60m of New UK Funding for Life Sciences Innovation Manufacturing
£60 million of funding is being made available to support commercial-scale manufacturing by life sciences businesses companies that are at the leading-edge of innovation.
This ranges from cell and gene therapies and earlier and better diagnostic technologies, to medical devices. The money is being provided through the new Life Sciences Innovative Manufacturing Fund (LSIMF).
The UK Government has provided ongoing commitments to the life sciences sector, with over £350 million provided to life sciences manufacturing through the Global Britain Investment Fund.
The LSIMF is the successor to the Medicines and Diagnostics Manufacturing Transformation Fund (MDMTF). This was also established to help to grow and strengthen the UK’s medicines and diagnostics manufacturing industry by encouraging companies to use new technologies, and to build or expand facilities throughout the country.
One company that was awarded funding through the MDMTF is Custom Pharmaceuticals Limited, which is building a new facility in Brighton to manufacture and develop difficult to handle, high potency medicines for the UK NHS and export biopharmaceuticals market.
George Freeman MP, the Minister for Science, Research and Innovation, said: "UK leadership in the discovery of new diagnostics, devices and drugs – from gene therapy to digital stents – is now driving our work in new and advanced manufacturing of medical technologies. Our new Life Sciences Innovative Manufacturing Fund will not only help further develop domestic medical manufacturing capabilities and enhance Britain’s ability to respond to future pandemics, but will also help create well-paying, high-skilled jobs across the whole UK – a vital part of our plans for levelling up."
Brian Henry, the Chair of The Medicines Manufacturing Industry Partnership (MMIP), commented: "The Life Sciences Innovative Manufacturing Fund is an excellent development. Science has already created the next generation of vaccines and advanced therapies for patients, we want to see the UK take its place as a world-leading centre for manufacturing them."
2022 Ping Conference
The 2022 PING Conference is all about this being a golden age for life sciences innovation. This latest announcement explains why. At the Conference, taking place on 20 June, we will hear from George Freeman amongst others on how the UK is uniquely positioned to adopt innovations in this golden age for life sciences.
If you would be interested in being invited to attend the 2022 PING Conference, please contact Paul Gershlick in our Pharmaceuticals and Life Sciences team on 07795 570072, or complete the form below.