£70 million for new medicines from Industrial Strategy Challenge Fund

The UK government is pouring £70m into manufacturing of new medicine as part of the Industrial Strategy Challenge Fund.

The UK Science Minister, Sam Gyimah, announced £70m in funding for the creation of new manufacturing centres that will focus on developing new medicines.

The money will be distributed through the Industrial Strategy Challenge Fund and will be used to fund projects including new medicine and virtual reality projects to assist patient recovery.

Health sciences featured prominently in the Industrial Strategy released in November 2017, which included a sector deal for the life sciences.

Of the new funding, Gyimah said,

Through our ambitious, modern Industrial Strategy we want to unlock the innovations that will help people live better, longer lives by developing the medicines of the future. This investment will not only support high-value, highly-skilled jobs but will develop lifesaving treatments that could change lives across the UK.

Source: Industrial Strategy boost for UK medicines with £70 million of funding to help develop new treatments – GOV.UK