North East life sciences firms ‘confident’ for 2025

A new survey has revealed growing optimism in the North East’s life sciences sector, with 75 per cent of firms expecting stronger financial performance in 2025.

Conducted by The Centre for Process Innovation (CPI) and commercial law firm Square One Law, the North East Pharma, Health Tech and Life Sciences Landscape Survey 2024 gathered insights from more than 30 companies, 90 per cent of which were SMEs.

Areas for growth and reasons for confidence identified by the report include expanding into the US market, revenue growth and a “thriving ecosystem” and “dynamic network of innovative entrepreneurs”, though concerns remain over funding gaps and infrastructure challenges.

The region currently exports 80 per cent of its pharmaceutical products, underlining the importance of maintaining strong trade links and technological innovation in sustaining growth.

Dr Alex Cole, director of market strategy at CPI, said: “The North East is a flourishing hub of activity in life sciences, spanning medtech, pharma and engineering biology.

“It’s vital our narrative to the Government highlights the excellence we have here - excellence that deserves to be supported and nurtured for continued growth.”

One of the companies to have contributed to the survey was LightOx, a Newcastle-headquartered biotechnology company developing therapies for mouth cancers.

Dr Sam Whitehouse, chief executive, said: “The challenges for the region, it is sad to say, remain fairly constant. 

“We have suffered from a lack of investment, both from private finance and from Government, with the majority of investment being in the South East and the golden triangle. 

“There is sadly a lack of investors in the North East, and much of the finance gained by our companies comes from overseas. 

“Growth is only possible with the right nurture, and investment gives that stability to grow from.

“However, despite these challenges, we see more and more SMEs in region, more jobs being created and a demand for space increasing.”

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