The 2024 Autumn Budget announced significant funding for the NHS, including £6.1 billion for biotech and medical science, and £1.5 billion for new beds and diagnostic capacity. Industry leaders emphasize the need for value-based procurement, modern equipment, and workforce training to enhance patient care and address ongoing challenges like staff shortages. However, concerns remain over tax increases potentially undermining these investments, and calls continue for the removal of VAT on defibrillator purchases to improve community health resources.
The UK has launched a new Regulatory Innovation Office (RIO) aimed at accelerating public access to emerging technologies, including AI and bioengineering, by streamlining outdated regulations. Science Secretary Peter Kyle emphasized the initiative's potential to enhance healthcare and stimulate economic growth, while also addressing regulatory barriers across sectors like space and autonomous technology. The success of this initiative will depend on effective coordination among various government efforts to harness technological advancements for the benefit of the economy and public health.
A £4.2 million MedTech accelerator program has launched to support up to 140 UK SMEs in overcoming regulatory challenges related to medical devices and diagnostics. Funded by the UK government and delivered by CPI in partnership with the Office for Life Sciences, the initiative offers grants of up to £30,000 for external regulatory guidance. Applications opened on 9 October 2024, with decisions expected by 29 November 2024, aiming to expedite the introduction of life-saving technologies to the market.
The UK’s life sciences sector is set to receive a £279 million investment from Eli Lilly, the world’s largest pharmaceutical company, to address health challenges, particularly obesity. This collaboration will establish the first ‘Lilly Gateway Labs’ in Europe, supporting early-stage businesses with lab space and mentorship. The initiative aims to enhance health outcomes and economic growth while tackling obesity, which costs the NHS over £11 billion annually.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
