Ambassador visits Cambridge to boost UK-US innovation ties
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BioNTech to establish new R&D centre in Cambridge as part of £1bn investment
Image credit: BioNTech
Biopharmaceutical company BioNTech yesterday announced it will invest £1bn in the United Kingdom over the next 10 years, creating hundreds of jobs in London and Cambridge in the process.
The Covid-19 vaccine pioneer said it will establish new research and AI centres in London and Cambridge as part of its investment, to drive new advances in medical science.
BioNTech’s investment will be underpinned by up to £129m of government support, a move, the government says, that highlights its commitment to life sciences as a key part of the Plan for Change.
Undoubtedly, the significant investment is testament to the confidence in the UK life sciences – one of the priority sectors of the economy that will form a key part of the forthcoming Industrial Strategy. The UK life sciences sector is also regarded as an important driver of economic growth, job creation, and innovations that could overhaul what’s possible in healthcare.
Expanding its presence in the UK, BioNtech will create more than 400 new highly skilled jobs over the next 10 years, including researchers in clinical and scientific drug development, bioinformatics, and a range of supporting functions. Furthermore, the investment will Indirectly create a substantial number of additional jobs in the supply chain.
In Cambridge, BioNTech plans to set up a new R&D centre focused on genomics, oncology, structural biology, and regenerative medicine. In London, BioNTech intends to establish its UK headquarters, which will be home to a new AI hub led by InstaDeep Ltd.
Speaking about the announcement, Science and Technology Secretary Peter Kyle said: “This investment will propel the growth-driving life sciences sector to new heights, delivering cutting-edge facilities, building careers in the future-facing jobs we want our children to have, and ultimately unlocking progress in medical science that could save lives.”
Richard Torbett, Chief Executive of the Association of the British Pharmaceutical Industry (ABPI), added: “This investment is a testament to the fantastic skills, research capabilities, and scientific infrastructure we have in the UK. It is also a template for how the UK could unlock further life science sector growth by removing the barriers and roadblocks to investment.”
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