ABINGDON, England, June 26, 2013 /PRNewswire/ --
Today in the House of Commons comprehensive spending review announcement, the UK government announced an extension to the Biomedical Catalyst, as well as the Catapult Centres amounting to £185m additional funding in support of the UK life sciences industry.
The Government's Spending Review document sets out its intention to provide "additional resource funding of £185 million for the Technology Strategy Board (TSB) to support innovation, including the Catapult Centres and the Biomedical Catalyst".
Commenting on today's announcement, Jon Rees, CEO of OBN, said: "OBN is delighted with the news the scheme will be continued, and warmly welcomes the announcement. We now await the full details of exactly how much will be allocated to the Biomedical Catalyst over what duration, additionally hoping that improvements to the Biomedical Catalyst applications process maximise the translation of the UK's biomedical potential into investible drugs, devices and diagnostics that can be taken to market and benefit UK patients."
Jon Rees, CEO of OBN, further commented: "OBN is one of a number of organisations to have engaged with Ministers on this issue, including EMIG, BIA and others. We were delighted to have hosted the Office of Life Sciences at BioTrinity 2013 and other forums where they were able to gather the views of emerging company CEOs on the importance of the Biomedical Catalyst. Once the scheme is formally extended we look forward to working with other stakeholders and the Technology Strategy Board to further improve the scheme."
Following a successful campaign to call for an extension to the Biomedical Catalyst, including letters to key stakeholders and media activity, OBN is now working with EMIG to secure process-related improvements to the scheme. Companies who wish to support OBN's advocacy activities are invited to approach OBN regarding their subscription as a Supporter Member.
Notes for Editors
OBN is the membership organisation supporting and bringing together the UK's emerging life science R&D companies, their corporate partners and their investors. Our 230 member companies are located across the Golden Triangle (formed by the cities of Oxford, Cambridge and London) and beyond, and benefit from our provide networking, partnering, purchasing, advising, and advocacy activities. Through our delivery of Europe's 3rd largest annual biopartnering and investment conference 'BioTrinity', which attracts nearly 900 delegates from 30 countries, OBN generates more R&D-company-to-investor interactions than anyone else in Europe. OBN runs regular 'BioTuesday' evening networking events which typically feature three speakers talking on a topic of business, financial or scientific interest, followed by two hours of networking over wine and canapés, attended by about 100 delegates.
OBN delivers a number of key executive level dinners in the life sciences calendar including the OBN Annual Awards Dinner at the Ashmolean, the OBN Annual Executive Dinner and OBN Christmas Networking Dinner. In addition OBN offers the Senior Executive Breakfast Club with up to 30 CEOs, CFOs and COOs coming together regularly in Oxford, Cambridge and London with industry figures to network and discuss topics of mutual interest under Chatham House rules. OBN offers members discounted rates on lab supplies and services through more than 30 suppliers, office supplies, private medical insurance, among over 40 offers on products and services through the OBN Group Purchasing Scheme.
OBN has also established a thought leadership group called the "OBN 2020 Vision Group" which provides thought leadership on concepts to support the emergence and sustainable growth of emerging life sciences R&D companies. OBN delivers consultancy projects on regional and national life sciences clusters, independently benchmarking the status of bioclusters on behalf of clients. OBN is also involved in a number of multi-cluster networking projects including HealthTIES, the European Diagnostics Clusters Alliance and we are a proud to be member of the Council of European Bioregions.
Jon Rees, CEO