Manchester’s Inward Investment Agency, MIDAS, has launched a new life sciences prospectus showcasing the city-region’s position as one of the UK’s most dynamic health innovation ecosystems.
The prospectus, which has been produced by Manchester’s Inward Investment Agency, MIDAS and the Oxford Road Corridor, was officially unveiled yesterday at an exclusive event at Sister, the £1.7 billion innovation district and neighbourhood.
Highlighting Manchester’s position within the UK’s £120 billion growing life sciences market and the leading role the city-region can play in the future of life sciences, it will delve into the city-region’s strengths in data, genomics, oncology, and real-world evidence clinical trials.
unveiling follows the government’s publication of its Modern Industrial Strategy – a 10-year plan to drive business investment, encourage innovation, and grow the industries of the future across the UK, including the life sciences sector.
The Government’s National Industrial Strategy included plans to make it easier for innovation to be adopted by the NHS through the streamlining of procurement, the introduction of a rules-based process for medtech devices, and NHS Innovator Passports. Recognising the enormous potential of city-regions like Greater Manchester in delivering growth, Manchester will lead the way as the permanent home of the Industrial Strategy Council, an independent, statutory body that will play a key role in advising the Government on the plan’s implementation.
The city-region stands at the forefront of the government’s ambition to establish the UK as a global life sciences superpower, positioning Manchester as the UK’s key growth opportunity for life sciences investment and innovation.
In the past month, there has been major Government investment in innovation and research, including nearly £5 million for an innovation partnership between the Universities of Manchester and Cambridge.
This forms part of the Government’s £86 billion commitment to science and technology outlined in the recent Spending Review, which included up to £500 million for regions across the UK, with local leaders set to play a key role in decision-making. This builds on the success of the Innovation Accelerator programme, which was piloted in Greater Manchester along with the West Midlands and Glasgow City Region.
Manchester is expected to attract even further investment as IQVIA, a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries, has completed a major investment in the Medicines Evaluation Unit (MEU) in Wythenshawe, Manchester – the MEU is a UK leader in early phase clinical trials.
Working with the leadership team at MEU, IQVIA has plans to grow the Wythenshawe site – which is part of the Manchester University NHS Foundation Trust (MFT) campus – boosting economic growth and creating high-value job opportunities for Greater Manchester.
Greater Manchester’s collaboration across healthcare, public and private sectors, and trials and real-world evidence infrastructure, which will be boosted by IQVIA’s investment, puts the city-region in a strong position to capitalise on the new measures outlined in the government’s Industrial Strategy.
The investment will see the company integrate the MEU into its clinical trials offer to include first-in-human testing for novel therapies, supporting breakthrough discoveries across a range of disease areas.
This early research investment complements existing Phase 2 and 3 clinical trials IQVIA is delivering on behalf of global life sciences partners, across Greater Manchester hospitals. These studies not only attract inward investment to the city-region but also enable patients to have early access to innovative new medicines for many therapeutic areas.
Cllr Bev Craig, Leader of Manchester City Council, said:
“We’re seeing ambitious life sciences companies choose Manchester for our unique combination of world-class research, industry partnerships and direct access to the NHS. Our collaborative ecosystem provides the perfect environment for businesses to accelerate from discovery to delivery.
“The investment from IQVIA is exactly the kind of high-value investment we want for Manchester – creating skilled jobs, boosting our innovation economy, and strengthening our position on the world stage.
“What sets us apart is our ability to translate cutting-edge research into real-world applications that improve people’s lives while creating sustainable, high-skilled employment opportunities for our residents. This prospectus demonstrates why Manchester is the ideal location for companies looking to scale their operations and make a global impact.”
