£20m government funding launches for UK medtech and life sciences sectors

A new multi-million pound government fund to support the medtech and life sciences sectors has launched today (April 7).

The Medicines and Diagnostics Manufacturing Transformation Fund, designed to boost the UK’s ability to respond to future pandemics, has opened for applications.

It is hoped that the the new £20m fund will open up economic and investment opportunities for manufacturers across the whole of England, Northern Ireland, Scotland and Wales.

Business Secretary Kwasi Kwarteng commented: “This £20m investment will harness the best in UK manufacturing and fund cutting-edge medical technologies to protect the British public in 2021 and beyond.

“This will not only boost the UK’s already strong vaccine and medicine portfolio but support top quality, local jobs across the country and put the UK in a formidable position to continue responding to the most pressing global challenges of our time.”

Life Sciences Minister Nadhim Zahawi added: “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.”