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£160m life science investment

The UK government is set to spend £160m on life sciences and supporting medical research and health care.

The news comes in an independent review by geneticist Sir John Bell – Life Sciences: Industrial Strategy.

Business Secretary Greg Clark said that for the first phase of investment, the government will spend £146m to support innovation in manufacturing, development of vaccines and advanced treatments, and research by small and medium-sized companies.

The funding is part of Theresa May’s proposals for a £4.7bn increase in research and development over four years.

There are also recommendations to support the UK’s £64bn life sciences industry through funding for basic science and a tax policy that supports growth, among other measures.

The IBMS Deputy Chief Executive Sarah May welcomed the report and said that the Institute will “continue to press” for investment.

Health Secretary Jeremy Hunt said: “The UK has always been at the forefront of scientific excellence. From the discovery of antibiotics to our world-leading 100,000 Genomes Project, we have a proud history of medical breakthrough and innovation. I want patients to continue to be at the front of the queue for the best treatments available.”

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