A group of leading biotech entrepreneurs and investors from Cambridge have written to The Times today to highlight what they see as the promising future of the industry and to praise the impact of the budget last month.
The letter, signed by leading figures such as Sir Christopher Evans and Dr Hermann Hauser and Dr Andy Richards, places on the public record their approval of the course the UK government is steering with regard to funding for the life sciences.
“Some talk as if the UK’s bio-pharma sector is in decline. It is not. Increasing investor confidence and well-informed government policies are combining to boost growth. The comprehensive Life Sciences Strategy and NHS reforms, the introduction of the Patent Box to support UK intellectual property and a £180 million Biomedical Catalyst Fund represent real commitment.
“Last week’s Budget incentives for investment including tax breaks for scientific spin-outs, start-ups, EIS investors as well as a reduction in Corporation Tax and the 50p tax rate, are having a positive impact on investment and growth,” the letter states.
Other signatories to the letter include Abcam co-founder and CEO, Dr Jonathan Milner, Cellzome CEO, Timothy Edwards and Prof Steve Jackson, co-founder of KuDOS Pharmaceuticals and more recently, MISSION Therapeutics.
And whilst they highlighted the long term challenges in developing infrastructure in the UK suitable for the long term development of drugs, they praised the government’s show of long-term support.
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