The proposed plans include BACIT intending to invest approximately £100 million per year into premium life sciences opportunities, including at least 25% being committed to oncology projects and businesses.
The terms of the deal are complex, but the overall message is that this new partnership shows a long-term commitment, by some big players in life science investments and cancer research, to the life science sector - particularly oncology - and the hope that life-saving innovations can get to patients sooner.
Sir Harpal Kumar, chief executive of Cancer Research UK, has said that, 'This is an important step in our mission to bring forward the day when all cancers are beaten'.