Announced at the International Investment Summit, Lilly plan to support early-stage life sciences businesses to develop therapeutics for significant health challenges.
At the International Investment Summit on Monday 14 October, it was announced that the UK’s life sciences sector will receive a £279 million boost to combat significant health challenges. Lilly, the world’s largest pharmaceutical company, expressed interest to invest in the UK, as part of a collaborative partnership with UK Government.
Launch of ‘Lilly Gateway Labs’
Lilly will back the UK’s best life science talent with the planned launch of the first ‘Lilly Gateway Labs’ innovation accelerator in Europe. By offering lab space, mentorship and possible financial backing, the facility will support early-stage life sciences businesses to develop therapeutics.
Wes Streeting, Health and Social Care Secretary, spoke of this impact for the NHS: “This announcement helps the UK take its place as a world leader in life sciences and brings life-changing treatments closer to being a reality for NHS patients. Partnerships like this are key to building a healthier society, healthier economy, and making the NHS fit for the future.”
Already, the life sciences sector supports 300,000 jobs nationwide, which Lilly’s Gateway Lab plans to increase.
Peter Kyle, Science and Technology Secretary, commented: “The UK’s life sciences sector is at the forefront of pioneering and life-saving research. This ground-breaking collaboration is proof that this sector is held in high esteem internationally and is driving investment into the UK. Investments like this drive forward work that will boost our health and ultimately save lives. But they also fire up our economy, creating the jobs, opportunity and growth we need to invest further in health and to push up living standards.”
Obesity: a key focus
Notably, obesity is the second largest preventable cause of cancer, as well as a major contributor to ill-health that inhibits people from wholly participating in work. Costing the NHS over £11 billion annually, action is urgently required. Therefore, the collaboration will connect therapeutics developed by the life sciences sector to the health system.
NHS Chief Executive Amanda Pritchard stated: “Today’s momentous agreement shows the NHS is uniquely well-placed globally, not just to bring effective new treatments to those who would benefit most, but also to support science, research, jobs and economic growth across the country. We now have an important chance to gain a better understanding of the benefits of weight management interventions for patients, and how best to deliver them over the next few years.”
Mike Nesbitt, Health Minister for Northern Ireland, highlighted the need to focus more on prevention and population health by harnessing the power of innovation. He concluded: “Driving economic growth to improve the lives of hardworking British people is this Government’s number one mission. The life sciences sector – which drove £800 million in foreign direct investment into the UK in 2023 – sits at the heart of these plans.”
This announcement was published on the UK Government’s website: https://www.gov.uk/government/news/landmark-collaboration-with-largest-pharmaceutical-company
