UK to get GBP1 billion biotech funding by 2008

The new funding allocations include stem cell research and DNA-based medicines and will provide a huge boost to British science, which is already world class. The allocations come out of the government’s GBP10 billion spending on UK science over the next three years, announced in its spending review last year.

Funding over the next three years includes more than GBP1 billion for the Biotechnology and Biological Sciences Research Council, an increase to GBP1.5 billion for the Medical Research Council and a boost to GBP300 million to help universities and institutes link-up with business and spin-off companies.

The funding will also include raising total DTI investment in nanotechnology research to GBP200 million, investing GBP150 million in energy research to help the UK lead in climate change science and GBP60 million to strengthen key areas such as engineering.

“Government spending on UK science will be the largest ever investment by any government in British science and will rise to over GBP3.4 billion a year by 2008,” said Trade and Industry Secretary Patricia Hewitt. “This is testament to our commitment to make the UK the best place in the world to do science.”

The new allocations aim to close the gap with the US and maintain Britain’s lead over the rest of the OECD (Organisation for Economic Co-operation and Development) in science.

With 1% of the world’s population, the UK undertakes 5% of the world’s science, produces 9% of all papers and has 12% of all scientific citations and 13% of the most cited papers.

The UK is already one of the best places in the world for bioscience and leads in Europe in the industrial exploitation of biotechnology.

Research benefiting from the funding could help develop new therapies for diseases such as diabetes, Parkinson’s and spinal injuries.