Extra £55m investment for UK innovation centres

Graphic of handing placing coin into money box.
Millions is to be invested in UK innovation centres.

The UK Government has announced a £55m five-year investment in Medicines Discovery Catapult, to allow the UK to continue as a global leader in medicines R&D.

A total of £215 million investment is split across the Medicines Discovery, Digital, Future Cities and Transport Systems Catapult centres. It builds on the announcement made in August by the Chancellor of the Exchequer, Phillip Hammond, of nearly £1 billion for the Catapult network.

Medicines Discovery Catapult is a national centre supporting the UK biotech sector by running applied R&D projects which industrialise and drive the adoption of new technologies and improve access to valuable UK R&D resources that help them succeed.

Business Secretary Greg Clark, said: “The Catapult network offers the technical expertise and equipment to allow businesses to take on the challenges and opportunities we expect to face in a future world.

“We’re backing experts to push new boundaries, so our future economy reaps the benefits of new technologies with more highly skilled jobs. Investment in research and development is at the heart of our modern Industrial Strategy as we build on the UK’s reputation for scientific innovation.”

Medicines Discovery Catapult’s CEO, Chris Molloy, said: “The funding…supports our progressive, industry-led agenda. The community is already well engaged with us, working in R&D collaborations that access our scientific resources, domain skills, discovery syndicate and brokerage platforms.

“This significant investment, along with our industry-led funding, is a vote of confidence in our work and vision. It also reflects national support for the UK’s unique Catapult network. At Medicines Discovery Catapult we have our eyes firmly fixed on deploying new approaches that will enable growth of our bio-economy, and maintain the UK’s heritage position as a global leader in medicines R&D.”