Last week I had the great honour of representing the UK overseas for the first time as Life Science Adviser at BIO 2012 in Boston promoting the UK Life Science sector alongside David Willetts.  In the 3-day trade mission organized by UKTI I had around 25 meetings with companies, investors and representatives of key Life Science agencies and organisations in Massachusetts and the US.  Our key goal?  To promote the UK as a global destination of choice for Life Science inward investment, and to support UK companies access investment and collaborations in overseas markets. It was also a fascinating insight into how UKTI promote the UK overseas through our network of Consulates and Embassies.

 

Having spent so much of last year intimately involved in developing the UK's Life Science strategy announced by the PM in December, it was a great opportunity for me to see firsthand at the coalface how it is going down with companies and investors, and to 'sell' our vision and the specific measures we are putting in place.  Having spent a 15-year career in the sector before coming to Parliament it was also fascinating to be let out of Parliament for 3 days and immersed back in this sector which is doing so much exciting work to drive some of the most important developments in human healthcare. 

 

The response to the specific measures in our strategy was hugely encouraging.  Our commitment to create an “integrated healthcare economy” in which the NHS is actively supporting research and development of new medicines by helping to reduce the time and cost of medicines development in a new model of translational medicine was well received.  Industry and investors alike were extremely positive about our commitment to protect the core science budget, to continue spending around £1bn per annum on Translational Research infrastructure through the NIHR, and to target specific funds through the TSB on key platforms like the cell therapy Catapult Centre, and the Catalyst Fund to provide easy to access project funds to facilitate clinical proof of concept studies in the NHS.  

 

But most exciting was the response to the commitment to open up the NHS to work more openly and collaboratively with industry in developing the new innovations on which we will all ultimately rely, specifically through the two key initiatives on data and new approaches to procurement and reimbursement.  

 

On data, many companies hadn’t realised the full extent of our commitment to provide access to anonymised NHS treatment data for translational cohort clinical studies through the CPRD (Clinical Practice Research Database).  Or the full significance of the opening up of the health outcomes data through the NHS Innovation Centre so that industry can for the first time look at current NHS outcomes to help plan and demonstrate how its’ innovations can help tackle the cost burden of disease better.  Both CPRD and the NHS Information Centre are open for business, working with industry to open up key data to support innovation.

 

And perhaps most importantly of all, the recognition at the heart of all this that over the coming years we will need to see a new model of reimbursement which better reflects the risks and rewards of innovation in helping to drive efficiencies and improved health outcomes in the NHS.  The early adoption and Adaptive Licensing Schemes – the move to Value Based Pricing and the openness in the NHS as set out in the 'Health, Wealth and Innovation' section of the Strategy to explore and encourage new ways of working with industry to unlock the full potential of innovation to help keep the NHS at the cutting edge of modern healthcare – have been met with a hugely positive reaction.

 

None of this will be quick or easy. But we are determined to make tangible progress with some 'early wins' to show the level of commitment,  and working with the Life Science 'Champions' Sir John Bell and Chris Brinsmead appointed by the PM to oversee implementation,  I am confident we are making some important progress. 

 

But the proof will be in the decisions companies and investors make about the UK as a destination for investment.  The early signs are encouraging.  Beneath the radar this last few months has seen some important and encouraging developments.  Nearly £1bn has been raised in a series of new venture funds for UK R&D.  We see our role in Government as creating a positive landscape for health innovation, to attract capital and talent in an increasingly competitive global market.  Good for patients. Good for Universities and the NHS.  Good for UK plc.