Imagine your life sciences business in London
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Transcript of Imagine your life sciences business in London
WHY LONDON FOR LIFE SCIENCES
In 2011, pharmaceuticals, medical biotechnology and medical technology sectors together comprise around 4,500 firms, employing 165,000 staff, with an R&D spend of nearly £5bn and an annual turnover of over £50bn
Life sciences manufacturing, which accounts for 8% of the UK total (by GVA) remains important for the UK’s growth. The pharmaceuticals sector alone accounts for more UK-based business R&D than any other manufacturing sector (accounting for over 28% of all business R&D)
Over 300 pharmaceutical companies are based in the UK and employ nearly 78,000 people, with an annual turnover of £31bn. The medical technology and medical biotechnology sectors represent over 4,000 companies employing 87,000 people with an annual turnover of around £18.4bn
WHY LONDON FOR LIFE SCIENCES
More progressive regulatory environment that not only supports innovation, but openly promotes it
London benefits from £16bn of public sector healthcare, research and teaching spend annually, with further funding committed by the government
London is home to nearly 1,000 companies in life sciences, and more than 8,000 in healthcare
THE RIGHT ENVIRONMENT London is the most accessible city in the world, from both a
travel and time-zone viewpoint London has more than 40 universities with 1,300 biomedical
researchers and five world class medical schools and 12 teaching hospital, more than 50 clinical institutions with a huge patient population for clinical trials
Hospitals: patients, research & research facilities, with access to a diverse and concentrated population through NHS patient records
London’s life sciences offering is growing with the set up of the Francis Crick Institute and the Cell therapy catapult centre, both in central location and easy to access
The London Stock Exchange (LSE), with its Alternative Investment Market is, increasingly, the public market of choice for European biotechs
London provides easy access to VCs and service providers, including lawyers, accountants, and public relations consultants, which biotechs require to build their businesses
Presence of additional funding bodies e.g., The Wellcome Trust, Medical Research Council, and Imanova
THE RIGHT ENVIRONMENT Incubator space:
• London BioScience Innovation Centre (LBIC) • Imperial Bio-incubator: based in South Kensington, the aim of
this £7m incubator space is to bring valuable ideas to market either by building businesses or licensing to industry
• Queen Mary Bio Enterprises in Whitechapel: a £28m and 39,000 square feet capacity building, providing state of the art London laboratory and office space
Home to the Medicines and Healthcare products Regulatory Agency (MHRA) and European Medicine Agency (EMEA)
Availability of laboratory and office space in the London BioScience Innovation Centre (LBIC) next to St Pancras Station in central London (biotechnology, life science product and diagnostic companies, contract research organisations, medical device companies and service providers operating in the same space)
Universities are increasingly collaborating on commercial opportunities: offering access to academics, students and laboratories to companies
Host to headquarters of 2 of the top 10 global Pharma companies (GSK and AZ), with high levels of research activity e.g., AZ invested over £1.1 bn in UK R&D
Host to R&D centres of other international biotechnology companies e.g., Amgen’s international R&D HQ in UK
GOVERNMENT SUPPORTGovernment commitments: Injection of £100m in universities research facilities from
2012/13 with aim to attract further co-investment from private sector
Launch of the UKRMP (UK Regenerative Medicine Platform), a £25m cross research council fund
Supportive tax and regulatory environment: Patent box: 10% corporate tax on profits derived from patents
(new and existing) R&D tax relief: 225% tax relief available to SMEs, 130% to
large companiesCommitment from government and charities to fund research and commercial applications: £130m in stratified medicine £60m over 3 years to fund researchers to work on treatments
for chronic diseases £60m over 4 years to collaborations between academia &
industry to further develop stratified medicine Technology Strategy Board (TSB) initiatives: Cell Therapy
Technology Innovation Centre, a catapult centre for regenerative medicine, and the BioMedical Catalyst fund, a £180 m initiative set up in collaboration with the Medical Research Council
UNIQUE TALENT POOL The UK accounts for 11% of the world’s citations in biological
sciences and has a long history of breakthroughs discoveries (e.g.: Alexander Fleming discovering the penicillin in 1928)
World class universities: London has seven universities in the Times Higher Education world top 200 university rankings – more than any other city in the world
Nobel prizes: as of 2010, there were 72 Nobel prizes laureates affiliated to the University of London, 26 affiliated to UCL. London claims 14 Nobel Prize winners in Medicine and Physiology, and 25 overall in sciences
39,404 research papers are generated in London, second only to Boston (50,106)
2011/2012: 45,000 domestic students in medicine subjects + 5,000 foreign students; 14,000 domestic graduates + 2,500 foreign graduates
Access to university talent and resources through Knowledge Transfer Partnerships (KTPs): 60% funded by grants, the aim is to encourage knowledge transfer through collaboration with business environment
The Medical Research Council committed £70million to support PhD students and 320 posts across the UK; while the National Institute for Health Research (NIHR) is to support 1,600 research training posts
Funding form from charities such as The Wellcome Trust & Cancer Research UK
Recruitment of foreign scientists made easier by new regulation: several entry routes possible (guest lecturer, external examiner, intra-company transfer)
IMAGINGCOLLABORATIVE ENVIRONMENT: IMANOVA CASE
STUDY
Imanova partnership (www.imanova.co.uk): Collaboration between the Medical Research
Council, Imperial College, University College and King’s College
Objective to provide a state of the art imaging research facility to develop new applications (current strengths are on cancer and neurosciences)
Collaboration with British life sciences company GSK, which transferred its imaging capabilities in London
London to become a national hub for imaging facilities and collaboration between academic and commercial institutions
CLINICAL TRIALS National Institute for Health Research (NIHR) to help clinical trials
company by facilitating access to the NHS capabilities, with record investment of £800m over 5 years from 2012: NIHR Office for Clinical Research (NOCRI) helps companies to
find experts to support their studies NOCRI establishes a communication link between companies
and the NIHR Network providing delivery of the studies in the NHS &
assistance in seeking approval to run the medical trials Provides technical support and access to expertise through
biomedical research centres (Universities & NHS partners). King’s College is developing an informatics system to support this initiative
Support from government with simplification of clinical trials approval times
Adoption of the Academic Health Science Centres (AHSC) model, with Imperial, King’s College and UCL already partners; the objective is to accelerate the research developments into applications benefiting the patients
The London AHSC are exploring the idea to create information systems using NHS information to allow for large groups of patients to take part into global clinical research
As well as big-name clinical research organisations including Quintiles and Parexel, London is home to specialist CROs such as Pharmidex, William Harvey Research Ltd and Cerebrion
HEALTHCARE The total UK private healthcare¹ market by sector by value reached
£30.4bn in 2010, a 19.5% increase on 2006 value Health, social care and special education services are a major focus of
economic activity in the UK, and currently accounts for 11.1% of UK GDP
The growing demand for healthcare, given the population ageing and the increasing privatisation of healthcare (due to the increasing pressure on NHS capacity) insulated the sector from recession
Government allowing private medical companies to carry NHS treatments: trend towards outsourcing is forecasted to grow
As a result, opportunities in long term care (driven by elderly population) and acute care (short term active treatment) are likely to increase in the next few years
Potential for innovation and convergence: better quality of living, smart houses / e-healthcare: London as the hub in tech innovation and financial community to fund applications
Opportunities for VC and PE to become more involved in the market and help accelerate growth
The marketplace includes big players such as Atos Healthcare, AXA PPP Healthcare, Barchester Healthcare, but the majority are small and medium-sized providers
Private Medical Insurance: currently less than a third of British residents are thought to have private insurance², in majority men & women aged 35-54 (41%), form social classes A and B (59% of respondents); Over a third are residing in the Greater London & South East areas (37.2%)
CELL THERAPY CATAPULT CENTRE
The global commercial cell therapy industry was estimated to have an annual turnover of $1bn in 2011, is forecast to grow to $5bn by 2014, with even greater growth predicted beyond that
Due to be launched in end of 2012, the Cell Therapy Catapult centre will be an autonomous entity, independent of higher education institutions, that will play a significant role in speeding up development and accelerating routes to market
£50m over 5 years committed from research councils, the National Institute for Health Research (NIHR) and the Technology Strategy Board (TSB), with £10m per year investment
Offering state of the art laboratories and offices in St Guy’s Hospital, central London
Collaboration between academics, businesses and clinicians to focus on the commercial development of cutting-edge technologies in regenerative medicine clinical offerings
Current developments include Julie Daniels' limbal cell grafts at the Institute of Ophthalmology, UCL as well cell & gene therapy combinations at the Great Ormond Street hospital
Cell therapy players in London and immediate surroundings include Cell Medica, ReNeuron (now in clinical phase)
THE FRANCIS CRICK INSTITUTE Due to be launched in 2015, the objectives of
the biomedical science research institute are:
to generate new insights and knowledge about the biological mechanisms controlling cell, tissue and body function
through collaboration, to find ways to prevent and drive forward better treatment of the most significant diseases affecting people
Consortium of academic & scientific institutions:
The Medical Research Council (biomedical research)
Cancer Research UK (cancer charity) The Wellcome Trust (charitable foundation) University College London Imperial College London King's College London
ONE NUCLEUS Commercial, clinical and academic powerhouse for
international life science and healthcare companies formed in 2010 by the merger of two regional life science networks – Cambridge-based ERBI and the London Biotechnology Network (LBN)
Promoting collaboration between Cambridge and London thus tapping onto the heart of Europe’s largest life science and healthcare cluster;
London and Cambridge are home to at least 60% of the UK’s life science industry base, four of the UK’s five Academic Health Science Centres and three of the world’s top six universities
The institute’s mission is to improve the global competitiveness of its members by:
Giving access to a large pool of companies and thus supporting business-to-business interaction
Providing visibility to members through a cluster of international size and relevance
Providing discounted entry to events in London and Cambridge
Allowing for economies of scale supporting a group purchasing scheme
Providing a training programme focused on the needs of the members
LONDON BIOSCIENCE INNOVATION CENTRE (LBIC)
Owned by the Royal Veterinary College, it hosts over 35 biotechnology and life science companies in central London, including small start-ups and more established players
Tenants include biotechnology, life science product and diagnostic companies, contract research organisations, medical device companies and service providers
Provides laboratory and office facilities of high standard and a professional front door a short walk from St Pancras International and the site of the new UK Centre for Medical Research and Innovation (UKCMRI)
Clients benefit from shared networking space and meeting rooms as well as close proximity to the various financial services available throughout London.
An experienced management team in building and supporting biotechnology businesses
LONDON REGENERATIVE MEDICINE NETWORK (LRMN)
Over 6,000 members from the general public, patients, patient groups, politicians, students, scientists, clinicians, engineers, industrialists, funding agencies, regulators and the media
Forum for new regenerative medicine technologies to be presented and discussed via monthly meetings
Committed to helping facilitate the building of a competitive and sustainable international cell and gene therapy industry in the UK
Facilitated collaborations and the launch of the Regenerative Medicine journal to accelerate delivery of safe, efficacious therapies that can be affordably manufactured at scale for use in routine clinical practice
UK REGENERATIVE MEDICINE PLATFORM (UKRMP)
In Sept 2012, the Biotechnology and Biological Sciences Research Council (BBSRC), Engineering and Physical Science Research Council (EPSRC) and Medical Research Council (MRC) launched a £25m UK Regenerative Medicine Platform (UKRMP) to address the technical and scientific challenges associated with translating promising scientific discoveries in this area towards clinical impact
Objectives: interdisciplinary and complementary research hubs to promote
the development of regenerative therapies Part of the broader UK research strategy seeking to support
high quality UK research activity and translational activity that will help deliver the great promise of regenerative medicine to the benefit of both patients and future economic growth
BBSRC, EPSRC and MRC are inviting proposals to establish high quality, collaborative research groupings to address key challenges in translational regenerative medicine
The five main themes (hubs) of research are: 1. Cell behaviour, differentiation and manufacturing; 2. Engineering and exploiting the stem cell niche; 3. Safety and efficacy, focussing on imaging technologies;4. Acellular (smart material) approaches for therapeutic delivery;5. and Inducing immune tolerance
COLLABORATIVE ENVIRONMENT: ACCESS TO UNIVERSITIES
Imperial Bio-incubator www.imperialinnovations.co.uk: A £7m incubator space based in South Kensington, to bring valuable ideas to market either by
building businesses or licensing to industry Queen Mary Bio Enterprises in Whitechapel www.qmbioenterprises.com:
A £28m and 39,000 square feet capacity building, providing state of the art London laboratory and office space, and access to world class clinical, teaching and research resources (Royal London Hospital nearby)
Providing support for new ventures and being a hub for entrepreneurial activity. Tenants located at the Innovation Centre can benefit from opportunities to access the facilities available at the world class London School of Medicine Dentistry; access to the university business support network and investors events; and leverage Queen Mary technical and commercialisation experience in the healthcare and biotechnology sectors
Knowledge transfers www.ktponline.org.uk: KTP is a programme run by the Technology Strategy Board (TSB), a partnership between a
University, a graduate and a company/organisation with a strategic need that could be solved via knowledge transfer
Recruitment of a graduate to work on a knowledge transfer project from 6 months to 3 years to help unlock a company’s potential
Available to a wide range of sectors and partly funded by the government (covering 60% of costs for SMEs; up to 50% for larger organisations). Growth potential by over 40% for participants
A large amount of KTP funding remains unallocated in 2012. At a recent workshop held by the TSB it was announced that good project applications are needed urgently as the money must be spent this year
FINANCIAL INCENTIVES TO DYNAMISE THE ECOSYSTEM
Seed Enterprise Investment Scheme (SEIS www.seis.co.uk): Governmental scheme to help small and early stage UK-based start-ups: companies must employ less than 25 people and must have assets of less than £200,000. Benefits:
50% income tax relief on investments Capital gains tax exemption on gains (from sale of asset)in
2012/2013 financial year if investment in the SEIS the same year
Enterprise Capital Funds www.capitalforenterprise.gov.uk (£300m) and Business Angel Co-Investment fund www.angelcofund.co.uk (£50m): to finance innovative SMEs with high growth potential
Commitment to invest £180m in 2012-2014 to support discovery, development and commercialisation of research: Funds allocated by the MRC www.mrc.ac.uk & the TSB
Biomedical Catalyst fund www.innovateuk.org/content/competition/biomedical-catalyst
In August 2012, University College London (£700,000), Imperial College (£700,000) and King’s College London (£500,000) received funds to transform early stage research ideas into commercial applications
A further £130m to invest in later stage development
UK LIFE SCIENCES STRATEGY Build an integrated ecosystem promoting collaboration
between companies and research institutes Easy commercialisation of academic research:
Encouraging knowledge transfers from academia to businesses
Find Kinston initiative – it does exist at national level and is sanctioned by gvt (funded); Technology transfer office Imperial Innovations at Imperial College
Contributions by public and charity funding to accelerate research and therefore contribute to products developments
Clinical research as innovation driver within the NHS: The government announced £800 m in clinical
research over the next 5 years (new NIHR Biomedical Research centres and partnerships to boost research in cancer, dementia, ageing conditions, etc.)
Resource finder point offers up to date information about knowledge and technologies by location, research topic, skills and equipment
The UK as a place to deliver life sciences innovation
JAPANESE BASED PHARMACEUTICAL COMPANY SHIONOGI & CO., LTD LAUNCHED ITS NEW EUROPEAN HEADQUARTERS IN LONDON. SHIONOGI
ELECTED TO BASE THEIR EUROPEAN HEADQUARTERS IN LONDON FOLLOWING AN EXTENSIVE REVIEW OF POTENTIAL LOCATIONS.
“WE ARE DELIGHTED TO BE LAUNCHING OUR
NEW EUROPEAN HEADQUARTERS IN LONDON - WE AIM TO ACHIEVE OUR MISSION AS A COMPANY
WITH A STRONG PRESENCE IN EUROPE”TAKASHI EAKENOSHITA
CEO OF SHIONOGI EUROPE
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