Last month, we published our quarterly update report ‘Influencing and shaping our sector’. This latest report gives an overview of key policy developments and the BIA’s continued engagement with policymakers, regulatory authorities and wider stakeholders on behalf of the UK life sciences industry from April-July 2017.

The report covers a busy quarter for the sector, which included the snap general election that led to the Conservative Party losing its parliamentary majority. Before the election the BIA published a series of blogs looking at the election and what different outcomes could mean for the industry. Following the result, we also issued a press release with our response and wrote a blog on the result and its impact on our sector. Staying with politics, in July, we held our 17th Annual Parliament Day that brought together senior representatives from the UK’s life science industry and policy makers in Westminster.

Parliament Day 3

The report also highlights our work on Brexit, which has resulted in some welcome developments from government, in particular Jeremy Hunt MP and Greg Clark MP’s letter to the FT stating that the UK government would pursue co-operation with the EU on medicines regulation post-Brexit (industry responded with this letter). Later that month on 14 July, Lord O’Shaughnessy, Under Secretary of State for Health, gave a keynote address on the future of medicines regulation at the annual joint BIA and MHRA.

Lord O_Shaughnessy

In terms of finance, tax and investment, the BIA published its annual finance report ‘Building something great: UK’s Global Bioscience Cluster 2016’, which demonstrates that the UK maintained its strong leadership position in European biotech funding in 2016 and has the strongest pipeline for future drug development in Europe. Furthermore, the UK is in a strong position to close the gap on the leading US life sciences clusters and maintain its European lead if current momentum can be sustained. A total of £1.13 billion was raised by UK-based biotech companies from private and public sources in 2016.

UK proportion of venture capital raised in Europe

This quarter’s report also celebrates BIA CEO Steve Bate’s award of an OBE for innovation that he received on 16 June at Buckingham Palace. Steve even promoted the bioscience sector at his investiture, wearing a tie made from synthetic spider silk.

Steve

The full report goes into more detail on all of these topics, as well as our work around areas including skills, people and talent, intellectual property and technology transfer and medicine regulation. You can read the report here.