CEO Update - 20 January 2025
The BIA is driving progress across life sciences, from shaping policy in engineering biology and advocating for balanced perspectives in the Covid Inquiry to exhibiting UK innovation at J.P. Morgan Healthcare Week.
BIA shapes engineering biology policy
I was pleased to see the recent BBC article repeatedly sent to me over the last few days on bioengineering advancements, including transforming fatbergs into sustainable materials like perfume ingredients. It demonstrates that the UK remains at the forefront of innovation in life sciences and engineering biology. Projects like these outline the UK’s ability to harness cutting-edge science to address global challenges, from waste management to sustainable manufacturing. With pioneering research hubs like Edinburgh leading the way, the potential to create impactful, scalable solutions is clear. However, as the article highlights, achieving global leadership will require sustained investment, regulatory clarity, and a commitment to translating groundbreaking discoveries into real-world applications. These advancements are a testament to the UK’s ingenuity and reinforce why it is a global leader in the life sciences revolution.
Steve Bates OBE
CEO, BIA
Last week marked a pivotal moment for engineering biology policy, with the publication of two influential reports that could reshape the Government’s approach to this transformative field. Both the House of Lords Science and Technology Committee and the Regulatory Horizons Council addressed critical barriers to innovation within the engineering biology ecosystem. The BIA actively contributed to both reports, ensuring the voice of the life sciences sector was well represented.
The House of Lords Committee concluded their inquiry into engineering biology by publishing their report, Don’t fail to scale: seizing the opportunity of engineering biology. In May last year, Dr. Martin Turner gave evidence to the Committee alongside representatives from BIA member companies, including Extracellular and Oxford Nanopore. He emphasized that it is vital for the UK to ensure that innovative engineering biology companies can access the necessary infrastructure and finance, as well as having a clear regulatory pathway, in order to reach scale and succeed in the UK. I’m delighted to see that these three areas were highlighted in the final report.
Martin's testimony centered on supportive financial measures for engineering biology. The BIA has been active in pushing for pensions reform to support the sector for many years. It's great to see that these recommendations have been taken on board in the report, which states that:
The UK should pursue reforms to the financial sector that encourage investment in UK companies, including the Mansion House reforms in the pension sector, which need to be more ambitious and faster.
Further to its financial considerations, the report highlighted that "regulatory pathways for new engineering biology products and technologies remain unclear." This resonates with observations from our engineering biology members who have reported that identifying the correct regulatory pathway and finding the right contacts within regulators can be challenging. Martin identified that part of the issue is that "regulators need resourcing, money, and upskilling” in order to properly horizon scan. I was pleased to see that, in addition to articulating the crux of the problem, the report suggested practical steps towards addressing this challenge. It identified that if the UK is to be a world leader in engineering biology:
it needs world-leading regulators that can anticipate areas where regulatory clarity is needed, and set out a very clear regulatory path to market for new technologies with swift timelines for assessment and approval.
The report was published on the morning of Tuesday’s Royal Society Transforming our Future event last week. Notable figures from engineering biology across industry, academia, and policy gathered to consider the future of the field, and it was encouraging to know that the sector has the backing of the House of Lords Committee. This report strengthens the case for investment in engineering biology at the upcoming spending review.
Building on this momentum, the Regulatory Horizons Council published an independent report into the governance of engineering biology. The report, which the BIA fed into, considered the challenges of governing a platform technology that has the potential to spawn such a dizzying array of innovations and transform almost every sector of the economy. The Council recognized the potential of engineering biology’s disruptive innovations to contribute to key government missions such as Net Zero, public health, and economic growth.
To unleash engineering biology to tackle these issues, the sector needs a dynamic, adaptive governance framework to support the translation of engineering biology products into market. The report’s recommendations include regulating the product, not the process; fostering collaboration between regulators, standards bodies, policymakers, and industry to horizon scan for disruptive innovations and tackle regulatory roadblocks; and focusing on responsible innovation.
As the sector digests these reports, focus now turns to Westminster to see how the Government and regulators will respond and whether the findings will be implemented.
People’s Partnership announcement
I’m delighted by the announcement from the People’s Partnership to allocate £4 billion of assets into private markets. Unlocking pension funds represents a game-changing opportunity to fuel investment in UK businesses, drive economic growth, and deliver stronger returns for UK savers. Innovative sectors like life sciences hold unparalleled potential for transformative growth, and this move by the People’s Pension is a bold and significant step toward realizing that opportunity.
UK Trade Strategy response
The BIA submitted our response to a government consultation on the UK Trade Strategy. The consultation sought industry perspectives on the best way to support and protect UK businesses in international contexts whilst facilitating trade to drive growth.
The UK’s life sciences sector is truly global. R&D, business, and investment partnerships between trusted international partners are a regular occurrence and critical to the functioning of the sector. International diplomacy enables UK companies to access global markets for partnerships and export, as does regulatory cooperation. Further cooperation in Free Trade Agreements (FTAs) should be promoted, but must be taken further with the UK pursuing bi- or multilateral partnerships with countries to ensure our strong and leading voice. The BIA also called for government to prioritise seeking tariff reductions in trade agreements, alongside an update to the WTO Pharmaceuticals Tariff Elimination Agreement.
Beyond looking externally, government can continue to develop its “concierge” offer to provide fully joined up support to capture inward and domestic life sciences investments. Coordination and cooperation across government is vital, as the life science sector is impacted by myriad international agendas, and government must ensure that all government teams and agencies involved in supporting life sciences trade and investment are upskilled in the business models of innovative industries. These measures are key to the continued support of life sciences trade and investment.
Building momentum at JPM and looking ahead to London Life Sciences Week 2025
Our joint event last week with the UK Department for Business and Trade (DBT) at J.P. Morgan Healthcare Week was a huge success. It was well attended and it was exciting for recent big deals, such as Johnson & Johnson, GSK and Verdiva to be discussed. Nerida Scott, BIA board member, spoke at the event, saying: ‘The UK life science innovation ecosystem is small enough to be exquisitely networked whilst being large enough to have a global impact when it does so.’ Her perspective was insightful and, on the topic of the opinions of others, it was interesting to read news media about sniffer dogs and metal barricades at the event, as well as ‘boarded-up’ buildings in San Francisco.
As we reflect on this impactful gathering, we look forward to continuing the conversation and building on this momentum at London Life Sciences Week (LLSW) later this year. LLSW offers a unique platform to connect with global leaders and international investors, celebrate breakthroughs, and solidify the UK’s position as a life sciences powerhouse.
Constructive Bio
It was great to see The Times highlight the rise of BIA member Constructive Bio, led by scientist-turned-CEO Ola Wlodek. The company is a remarkable example of how synthetic biology is reshaping the future of medicine and industry. With its cutting-edge ability to rewrite DNA and program cells to produce entirely new molecules, the company is pioneering a more sustainable approach to manufacturing, using microbial "biofactories" to replace wasteful industrial processes. Backed by $75 million in funding, Constructive Bio is already making strides in pharmaceuticals, working on innovative methods to produce semaglutide and improve cancer-targeting antibody-drug conjugates. I look forward to tracking the company's progress over the coming years
Amplifying vital voices: addressing oversights in the Covid Inquiry
The next stage of the Covid Inquiry has started this week. It will provide a deep dive into the creation, approval, and distribution of vaccines, examining the critical steps taken to expedite the deployment of new therapeutics during the crisis. Kate Bingham is scheduled to speak this week. This phase will not only focus on the logistical challenges but also explore the science behind the rapid development of vaccines, shedding light on the innovative measures that were taken to overcome unprecedented hurdles in which the BIA played a central role. Additionally, the inquiry will tackle the multifaceted barriers to vaccine uptake, from building public confidence and improving accessibility to addressing ongoing safety concerns.
I was struck by the fact that Every Story Matters failed to include any input from trial participants or those who worked in the industry to develop the vaccine and therapeutics. Instead, the focus was placed on the perspectives of those who chose not to take the vaccine. While it is crucial to consider vaccine scepticism and all viewpoints, it seems equally important to amplify the voices of those whose contributions were essential to making the vaccine a reality—and ultimately a success. These individuals played a vital role in the pandemic response and deserve to be heard in this conversation.
Upcoming events
Join us on 30 January from 2:15-5:30pm GMT for an exclusive presentation of BIA's 2024 Biotech Financing Report, where a panel of British and American experts will explore the potential impact of the Trump presidency on UK biotech financing in 2025. Held ahead of the BIA Gala Dinner, this invite-only event offers key insights and valuable networking opportunities for BIA members, gala attendees, and investors. To secure your place, contact [email protected] with your full name, job title, organisation, and any dietary or access requirements.
Only two places remain for our gala dinner, taking place on 30 January. Make sure you register now to avoid missing out.
