Prime Minister Cameron Plans To Boost U.K. Biotech With New "Catalyst" Fund, Early Patient Access Scheme
This article was originally published in The Pink Sheet Daily
The U.K. plans to boost its life sciences sector with a series of measures, including a fund to support early-stage research and allowing early access to innovative medicines before regulatory approval.
You may also be interested in...
British R&D has taken another knock with news Novartis is closing its respiratory center in the county of West Sussex, England as part of the Swiss group’s wider R&D realignment worldwide. The planned move would mean the loss of up to 371 positions at the Horsham center.
Sweden’s government has allocated 4 billion kroner for the R&D sector and SEK 600 million specifically for life science in the hopes of rejuvenating Swedish R&D and getting the nation back on the top rankings of medicine innovation. It’s a theme being heard in other European countries.
British biotech companies want the U.K. government to adopt a French method of funneling funds into the cash-strapped sector from private individuals in return for favorable rates of investment tax, on grounds that a version of France’s long-running Fonds Commun de Placement dans l'Innovation is needed for small-to-medium-sized biopharma companies in Britain to tap successfully into long-term seed capital.