BIA responds to the Smith - Reid Review on international research partnerships

Steve Bates OBE, Chief Executive of the BioIndustry Association (BIA) said: “Thanks to new advances in science and innovation, we are at the cusp of a new industrial revolution, however Brexit is causing much uncertainty for UK SMEs. I welcome the publication of this important review and it is good to see the Science Minister recognising the valuable contribution the life sciences sector makes in discovering new cures for life-threatening diseases.

“There are over 4,700 life sciences SMEs in the UK which are working hard to deliver new medical breakthrough to patients. As we start to build on a bold new vision for our science and innovation landscape, it is vital that life sciences SMEs form a central part of this vision.

“The review proposes new funding streams and outlines what funding options the Government could pursue in the future. The BIA has detailed proposals for how the Government can ensure future funding streams enable SMEs to leverage the maximum amount of private investment needed to meet the 2.4% R&D target.”

Notes to editors

1. To find a copy of the Smith - Reid review, please follow this link. 
2. In June, the BIA published a report, Life sciences: Catalysing investment and growth, which sets out how the UK life sciences sector is driving investment and growth and makes the case for increased cost-effective public investment in the sector.