Life Sciences Set For Development In East Midlands
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A report commissioned for the D2N2 Local Enterprise Partnership (LEP) area in the East Midlands has identified a number of industries that should be targeted for investment and growth in the coming years.
The life sciences sector is among them, with the East Midlands Business Link revealing that the report is recommending “greater investment in research and development across the economy”.
The Science and Innovation audit also pointed out just how much certain industries are already benefiting the local economy, with an estimated one in five jobs in the science and technology sectors.
Near Nottingham, the growing life sciences cluster has already received funding from D2N2’s local growth fund allocation, with the organisation providing £6.5 million of the £30 million required to build a new life sciences building – BioCity Discovery.
Life sciences and healthcare were also identified as market priorities within the region by the report, alongside the likes of energy and low carbon, and next generation transport.
According to the full audit, the region’s main strengths lie in “biotech and pharma, alongside med tech and wellbeing”.
Over 350 companies in the life sciences sector, which equates to six per cent of all such businesses in the UK, are located in this region.
Sygnature Discovery and XenoGesis were two of the companies singled out as performing particularly well in recent years. Both are tenants in BioCity that operate as Contract Research Organisations (CROs), with the study highlighting the growth in the number of large pharmaceutical and biotech businesses using firms providing CRO services.
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