The Medicines and Diagnostics Manufacturing Transformation Fund, designed to boost the UK’s ability to respond to future pandemics and put the country ahead of global competitors, in now open for applications.
This 20£m fund will provide economic and investment opportunities for manufacturers, while ensuring greater resilience in UK supply chains and creating hundreds of highly-skilled manufacturing jobs.
The UK has one of the strongest and most productive health and life sciences industries globally, with a turnover of £80 billion and supporting 256,000 jobs, underpinned by a powerful research landscape and high-quality science base.
Nadhim Zahawi, Life Sciences Minister, said: “Our life sciences sector is world leading and its incredible response to COVID-19 has reminded us of the crucial importance of the sector to the UK.
I am thrilled to see this fund opening for applications and would encourage companies to make the most of the opportunity to expand their operations and create good jobs as we build back better from the pandemic.”
The pandemic has shown the importance of having a strong domestic medicines and diagnostics manufacturing industry. This new fund has been established to grow and strengthen the UK’s capabilities, as well as encouraging companies to deploy new technologies, build new factories and harness new advances, including bioprocessing, data and using greener manufacturing processes.
To date, the UK government has invested over £300 million into manufacturing a successful vaccine, and through the work of the Vaccine Taskforce, established in April 2020, facilities across the UK are working at pace to supply the world’s most promising vaccines so far as part of the biggest vaccination programme in NHS history.