BIA and the Biomedical Catalyst

The BIA was instrumental in securing the launch of the Biomedical Catalyst and has made its continuation a key campaign focus since 2013.

The consistent campaigning of the BIA and our members has ensured that this key source of early-stage funding for UK bioscience companies will continue to support the development of new life-changing medical treatments, diagnostics and devices, and underpin economic growth for the future. The bioscience sector requires a sustained funding ladder where promising innovations and companies have the most optimal environment from start up to liquidity. The Biomedical Catalyst scheme has proved to be an integral rung on that ladder.

To date the scheme has Over 180 business-led projects awarded over £250 million have been supported with funds to accelerate medical research. worth over £130 million and with a total project value of over £240 million. £250M

£130M £240M

This means that over Post-award funded companies and £100 million of additional academics have realised in excess private capital has of a further billion pounds in the form of been raised through additional private finance, grant funding, the fund for project via licencing or through acquisition. specific work.

£1BN JANUARY 2013: BIA push JUNE 2016: BIA publishes to refill the BMC at annual report Money, momentum Parliament Day and maturity: UK biotech financing and deals in THROUGHOUT 2011: MARCH 2013: BIA publishes MAY 2013: In run-up JUNE 2015: BIA push 2015/16 highlighting lack BIA meets with new The Biomedical Catalyst: to Spending Review to refill the BMC at of private seed funding Government and officials Accelerating medical 2013, BIA launches JANUARY 2014: BIA push annual Parliament Day investment and need BMC in the Office for Life research and leveraging major media and to refill the BMC at annual for Government support Sciences and Technology investment. The BMC’s parliamentary Parliament Day JULY 2015: through the BMC Strategy Board (now original funding was campaign for refilling BIA publishes Innovate UK) to call for nearly all allocated the BMC and over 50 JUNE 2014: BIA launch The Biomedical JULY 2016: BIA push to CAMPAIGN greater Government and applications BIA members write to BMC infographic showing Catalyst: Making the refill the BMC at annual TIMELINE funding for biotech were put on hold their MPs in support investment to date case to continue Parliament Day

£100M 2009 2010 2011 2012 2013 2014 2015 2016

JANUARY 2009: DECEMBER 2011: Prime JUNE 2013: The JUNE 2013: Julian JULY 2014: BIA CEO NOVEMBER 2015: BIA JULY 2016: OCTOBER 2016: BIA-supported report Minister launches the Chancellor, George Huppert MP champions Steve Bates raises value of hosts a BMC roundtable Business Secretary The Chancellor, Philip to Government proposes Biomedical Catalyst (BMC) Osborne MP, announces BMC in a Westminster Hall the BMC and advocates its for members with Sajid Javid MP Hammond MP, announces Enterprise Capital Funds with £180 million budget to BMC will be refilled in Debate and Parliamentary continuation at Ministerial Financial Secretary to the announces £10 million £100 million for the BMC (ECFs) – public-private bridge the ‘valley of death’ Spending Review 2013 Questions following Industry Strategy Group Treasury David Gauke MP for a one-off BMC2016 co-investment funds that meeting with BIA meeting with Jeremy Hunt competition operate within the ‘valley MP, Vince Cable MP, Lord of death’ for very early OCTOBER 2013: Howe and David Willetts MP stage companies BIA publishes The Biomedical Catalyst: JULY 2014: BIA Board

OCTOBER 2014: The BIA £10M Accelerating medical Member Jane Osbourn calls for continuation of research and leveraging gives evidence to the House the BMC in its UK Life investment with a of Lords Science and Sciences Manifesto 2015–20 foreword from the Technology Committee, Science Minister, saying the BMC leverages £180M David Willetts MP private investment “The Biomedical “The Biomedical “The BIA has been the Catalyst is an important Catalyst really has driving force in making collaboration between helped keep the UK’s a compelling case for the MRC and Innovate UK life science sector at the interests of UK life and we are pleased with the cutting edge of science SMEs in Whitehall the impressive results innovation. The fact that and Westminster. Your from the initiative to date. so many of its projects campaign to re-fund the This unique partnership have gone on to secure Biomedical Catalyst, with is clearly valued by both substantial private tangible case studies of academia and industry, sector investment shows private sector investment and the BIA in particular the great benefit of a crowded-in by the has been a great advocate programme like this, Catalyst, made a vital for the scheme. We are and how Innovate UK difference in ensuring extremely pleased that and the research councils the programme’s Innovate UK’s industry- work together to bring continuation. As we set facing side of the BMC has together business and out the next stage of the received further support commercial insight with Life Science Industrial from UK Government, academic excellence.” Strategy we need the matching the continued BIA’s voice of the small commitment the MRC DR RUTH MCKERNAN, and new companies.” makes to support the CEO OF INNOVATE UK academic side of the GEORGE FREEMAN MP, partnership.” MINISTER FOR LIFE SCIENCE 2014–16 SIR JOHN SAVILL, AND CHAIR OF THE CEO OF THE MRC PRIME MINISTER’S POLICY BOARD