£17 million boost to the UK’s leading life sciences sector
- Posted on 27 October, 2017
The Chancellor of the Exchequer, Philip Hammond, announced this week £17million new funding will be supplied for UK life science, helping to create real benefits for the NHS and patients.
Notably, investment in an Innovation Hub indicates support for the development of an industry underpinned by Engineering Biology; the engineering of biology to create and enable useful products and processes. It also highlights the growing need of manufacturing for metrology and standards supporting the development of new processes and materials.
The Chancellor announced funding for three new areas:
- 1.Cryo-electron microscope – £5 million. A state of the art microscope to build 3D models of biological components
- 2.Innovation hub – £7 million. This lab will establish the UK Centre for Engineering Biology, Metrology and Standards
- 3.Business catalyst – £5 million. This scheme has already produced 26 business spin-outs, 70 patents and £277million of follow on funding from the private sector
Mr Hammond commented, “The UK has world-leading expertise in life sciences – an industry that employs hundreds of thousands of people – and it is through supporting growth in these cutting edge industries that we will build a competitive economy that works for everyone.”
The full report can be read here.
Share this article:
People also read
Synthetic biology start-up Colorifix raises $3m Series A round to scale its revolutionary textile dyeing solution
Colorifix, a company that has developed the first commercial biological dyeing process, has raised a Series A round of $3 million from impact and stra...
Evonetix wins Best Emerging Synthetic Biology Company at the OBN Awards
London, UK, 12th October 2018 / Sciad Newswire / SynbiCITE would like to congratulate Evonetix on winning ‘Best Emerging Synthetic Biology Company’ at...
Addressing Global Challenges
Expert insights from SynbiCITE's leadership on the role of synthetic biology in solving some of the most significant challenges currently faced by our society