British Business Bank to enable up to £600m of new funding for the UK’s world-leading health technologies and life-sciences sector

The Government has announced a new dedicated investment programme of up to £600m to unlock the potential of the UK’s best health and life science innovations, allowing companies to grow and ensure the UK remains a world-leader in life sciences innovation.

While the UK has one of the most successful health and life sciences industries in the world, contributing almost £74bn a year and close to a quarter of a million jobs across the country, companies in the sector have historically struggled to access the right sort of finance to fulfil their growth potential.

The funding will comprise £200m of investment through the government-owned British Business Bank, with private sector investment expected to contribute around a further £400m, creating high quality jobs and helping UK patients benefit from more ground-breaking treatments and care.