World-leading biopharmaceutical company BioNTech has announced a planned £1bn investment into the UK to create hundreds of highly skilled jobs and set up new research centres.
The investment, one of the biggest in the history of UK life sciences, is aimed at making new advances in medical science and has been made possible with the backing of the UK Government.
The sector is worth £108bn to the economy and provides more than 300,000 highly skilled jobs across the country, but through measures like the Government’s commitment to investing up to £520m in the sector through the Life Sciences Innovative Manufacturing Fund, it is set for new heights.
The Germany-based firm will invest in the UK over the course of the next 10 years as part of an ambitious plan to significantly expand its presence in the country.
Two new R&D hubs, the first to be based in Cambridge, as well as an AI hub to be based at the company’s planned UK headquarters in London, will be created, which are set to create more than 400 new highly skilled jobs over the next decade.
The hub in the capital will enable medical research, using AI, including looking into understanding disease causes, drug target selection and predictive analytics.
Over time, this work could lead to the discovery and development of new therapies, diagnostics and treatments for a range of diseases, supporting the mission to rebuild the NHS for the long-term.
It also builds on the Government’s existing strategic partnership with BioNTech, to provide up to 10,000 patients with investigational personalised cancer immunotherapies by 2030.
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BioNTech is the pioneering company behind mRNA vaccines and cancer immunotherapies notably used to tackle COVID-19, and more recently trialled to help patients with cancer.
The business signed an agreement finalising the investment together with Science Secretary Peter Kyle and, as part of the agreement, the government will contribute up to £129m in grant funding over a period of 10 years.
“This investment will propel the growth-driving life sciences sector to new heights, delivering cutting-edge facilities, building careers in the future-facing jobs we want our children to have, and ultimately unlocking progress in medical science that could save lives,” said Kyle.
“This is a clear indication of how we will deliver the government’s Plan for Change: working together with the best and brightest businesses and innovators to unlock their potential, and then reap the benefits for the economy, health and more that their drive and genius can deliver.”
Chancellor of the Exchequer, Rachel Reeves, added: “This is another testament to confidence in Britain being one of the world’s top investment destinations and a global hub for life sciences.
“It will create hundreds of high-skilled, well-paid jobs, as we deliver on our promise to put more money in working people’s pockets through our Plan for Change.”
CEO and co-founder of BioNTech, Uğur Şahin, commented: “This agreement marks the next chapter of our successful strategic partnership with the UK government.
“Together, we have already made a meaningful difference in expanding access to investigational personalized cancer therapies for patients.
“Now, we are taking the next step to accelerate and broaden our research and development efforts advancing towards our vision to translate science into survival for patients.”