UK govt announces £650 million life science funding

26 May 2023

A £650 million ($802 million) war-chest to fire up the UK’s life sciences sector and drive forward the government’s priority to grow the economy has been unveiled by the Chancellor of the Exchequer Jeremy Hunt today.

Read the full life science growth package here

The multi-faceted ‘Life Sci for Growth’ package brings together 10 different policies including £121 million to improve commercial clinical trials to bring new medicines to patients faster, up to £48 million of new money for scientific innovation to prepare for any future health emergencies, £154 million to increase the capacity of the UK’s biological data bank further aiding scientific discoveries that help human health, and up to £250 million to incentivise pension schemes to invest in our most promising science and tech firms.

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