UK to build £55million cell therapy manufacturing site
Britain is to build a cell therapy manufacturing centre, according to an government announcement on Wednesday, hailed by the UK BioIndustry Association which intimated its lobbying was behind the decision.
The announcement, from Chief Financial Minister George Osborne in his budget presentation, of a £55 million large-scale centre "was called for by the BIA in its budget submission", according to a statement from the industry body.
Elsewhere in the financial budget announcements, the BIA also welcomed a 3.5% increase in R&D tax credit for loss making small and medium-sized companies from 11% to 14.5%.
In its statement, it also highlighted other financial initiatives that could be beneficial to biotechs including changes to venture funds and a £106million plus investment in doctoral training centre grants.