The BioIndustry Association has welcomed a government proposal to establish a national investment fund to fuel the growth of innovative bioscience companies.
In a submission to the Treasury’s consultation on its Patient Capital Review, the BIA also called for further support to scale up innovative companies, including tax incentives for investment and support to increase the number of fund managers with expertise in the life sciences.
In a consultation document published on 1 August, the Treasury said it would launch a national investment fund to commercialise research and scale up British start-ups, aiming to boost the number of ‘unicorn’ companies valued at more than $1 billion. The document identified the life sciences as a priority area for investment.
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