Potential Of Cambridge Life Sciences Cluster Highlighted
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Independent research, commissioned by AstraZeneca, has found that the Cambridge life sciences cluster has strong potential in terms of the contribution it can make to the UK’s economy.
According to the findings, this particular hub for the life sciences sector could contribute an additional £1 billion to the country’s economy by 2032. This would also result in around 6,000 new jobs being created by life sciences firms in the region.
The Cambridge life sciences cluster already employs 15,500 people across 430 companies that collectively bring £2.9 billion a year to the British economy.
The two biggest factors in achieving growth in this area are continuing to have a strong pipeline of talent and companies being able to source early-stage growth and research funding.
Jonathan Dry, director of oncology bioinformatics at the IMED biotech unit at AstraZeneca, commented: “In terms of a scientific hub, Cambridge is phenomenal. The city fosters a strong culture of collaboration between not just organisations but sectors too.”
He cited the example of how AstraZeneca is currently working with the University of Cambridge and Microsoft on cancer research to show how effective these cross-sector partnerships can be. “We’ve been able to further cancer research more effectively as a result,” Mr Dry asserted.
There are a number of projects designed to foster collaboration between businesses and sectors to benefit the life sciences industry, such as the recently announced joint technology initiative set up by Technology Touching Life.
Its aim is to explore developments in the areas of engineering and physical sciences, encouraging specialists from each sector to work together to push forward life sciences discovery research.
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