Are Warnings About Britain’s Life Sciences Warranted?
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Britain’s life science industry may be in better health than some think, despite some warnings about its future.
The Daily Express, normally an ardent supporter of Brexit, has reported on warnings that Britain’s ambition of being a life sciences giant in the years to come may now be in jeopardy after it was removed from the European Union’s £80 billion Horizon Europe scheme, a key source of funding for innovative science research.
It said it had been provided with evidence from innovation funding consultancy Ayming UK that the departure of the UK from the Horizon scheme will lead to three quarters of science research businesses moving operations abroad. The paper warned this could undermine plans set out by science minister George Freeman to enable the UK to gain “science superpower status”.
This gloomy prognosis might suggest the UK’s life science sales pipeline could soon be reduced to a trickle, but the latest reality on the ground might suggest a different story.
For instance, life sciences firm ValiRX has just taken up laboratory and office space at the MediCity Nottingham facility, Business Live reports. The company, which specialises in the areas of cancer therapy and women’s health, has previously operated virtually and outsourced testing, but can now do it in-house.
In addition, there are cases of EU-based firms extending their presence in Britain, rather than reducing them. For instance, Insider Media has reported on the case of Austria-based firm Weiner Bio-One, which has had a UK subsidiary since 1989, but has now extended its presence by investing on a major new storage and office space near Stroud to add to its nearby facility at Stonehouse.
While the latter firm is investing in distribution and administration rather than research, it may still be seen as a sign that the life sciences sector will still be heavily involved in the UK. In the meantime, it remains to be seen whether new government funding sources will emerge to successfully replace the money lost from the Horizon Europe programme.