LifeArc CEO Dr Melanie Lee responds to today’s Spring Budget:
“With the right Government support, we can make life science life changing. Today’s Spring Budget included some positive steps for turning the idea of a ‘science superpower’ into reality, while some questions remain.
We are pleased to see support for the Medicines and Healthcare products Regulatory Agency (MHRA) to help it accelerate patient access to treatments. The MHRA is a world-leading regulator and we will look forward to the details of new partnerships with trusted international agencies as well as a new, speedier approval process.
We also welcome support for R&D-intensive companies, such as life science SMEs, who depend on R&D tax relief to drive innovation through the risky early stages. The cuts announced in the Autumn Statement 2022 have been limited and this is good news for life science SMEs. As Government consult on a new R&D tax relief system, we must do everything necessary to support these essential players in the development of new diagnostics and treatments for patients.
We will also watch with interest the new investment zones based around universities across the country. Creating collaborations and catalysing opportunities is at the heart of what we do at LifeArc – these new zones have the potential to help stimulate the difficult translation of ideas from our great science base into breakthroughs for patients.”