11th July 2023
Life sciences companies supercharged with £277 million in government and private investment
Four life sciences companies, ranging from medical diagnostics to medicines manufacturing, will see £277 million in joint government and industry backing to help grow and innovate.
The funding, announced by Science Minister George Freeman today (28 March 2023), forms the first tranche of winning grants from the Life Sciences Innovative Manufacturing Fund (LSIMF).
£17 million in government funding is supported by additional private investment of £260 million, to back companies investing in life science manufacturing projects that help grow our economy, boost health resilience, deploy innovation, minimise environmental impacts and support levelling up.
The funding will help grow an innovative economy across the UK, supporting more than 500 jobs at companies across the UK, from North Wales to Northern Ireland.