CEO Update - 24 February 2025

In this week’s blog, HM Treasury considers ISA changes to enable tax support for growth, a new engineering biology regulatory group gives the UK a strategic edge and a key MHRA webinar on ILAP is upcoming.  

Treasury considers ISA and pension changes to unlock growth capital

This week it’s been interesting to see HM Treasury thinking about changing the tax incentives for UK savers by considering changes to ISAs and pension rules. Most of the public discourse has been opposed to the change. 

Steve Bates OBE
CEO, BIA

Treasury Minister Emma Reynolds recently told a parliamentary committee:

In Australia they talk about 'my super' and in the States they talk about 'my 401(k)', but we do not really talk about our pensions here. Can we, together, encourage an investment culture that recognises that if you are prepared and able to take a bit more risk then you could get more return? That is essentially what I would like to do.

We’re unlikely to see formal announcements until the next fiscal event in late spring or summer. Still, it’s clear that the UK government remains focused on unlocking domestic investment to drive economic growth - a welcome priority for the HM Treasury.

BIA engages regulators to shape the future of engineering biology

On 20 February, BIA had the unique opportunity to present to the new Engineering Biology Regulators Network (EBRN), on the regulatory challenges faced by innovative engineering biology SMEs. The EBRN is a unique cross-government forum bringing together 13 regulators, and stakeholders from across a wide range of Government departments, to share best practice on pro-innovation regulation, identify common challenges, and collaborate on solutions.

This presentation was the culmination of months of dedicated work by our policy team, gathering firsthand insights from engineering biology companies on the regulatory challenges they face across diverse application areas. Our goal was to elevate the voice of innovative SMEs, highlight breakthrough products in development, and enhance regulatory understanding of this rapidly advancing field.

Structured around seven case studies spanning health, chemicals, agriculture, food, and materials, the presentation illustrated the key regulatory hurdles that companies encounter, reflecting the broader challenges across the sector. What was great about the meeting was that it showed UK regulators are prepared to work collaboratively through leadership by the Department for Science Innovation and Technology (DSIT) – and crucially are open to understanding SMEs' needs and methods of work. In time this group could become a crucial UK competitive advantage in a key growth area.

Breaking barriers: how Stablepharma’s innovation is transforming vaccine access

Stablepharma’s €2.5 million grant from the European Innovation Council (EIC) is a significant milestone, emphasising the company’s pioneering approach to vaccine stabilization. By eliminating the need for traditional cold chain logistics, Stablepharma’s technology has the potential to transform vaccine storage and distribution, improving global access to life-saving immunizations - especially in regions where maintaining ultra-low temperatures is a challenge.

This achievement highlights the power of strategic Innovate UK funding to SMEs in accelerating biotech innovation and reinforces the importance of continued investment in groundbreaking life sciences technologies. It is innovation like this that the UK will be able to bring to the global table at the time of future pandemics – which may well have more impact beyond the UK’s shores than within – so it is vital we share that this is the type of work UK SMEs do between pandemics (supported by strong IP) with G7 and G20 partners.

Advancing drug discovery: how AI-driven collaboration is shaping the future of medicine

The role of AI in drug discovery continues to expand, with Isomorphic Labs’ newly extended collaboration with Novartis marking another milestone in the sector. This deepened partnership builds on their shared ambition to transform the way new medicines are developed, leveraging cutting-edge computational methods to identify novel drug candidates with greater speed and precision.

The UK’s strength in AI-driven life sciences continues to attract global partnerships, reinforcing our position at the forefront of innovation. As the industry embraces AI to tackle complex healthcare challenges, collaborations like this demonstrate the potential of technology to reshape the future of medicine and improve patient outcomes worldwide.

Revolutionising research: how AI is accelerating breakthroughs in drug resistance

Further demonstrating the power of AI in life sciences, I was interested to see researchers using AI to crack a decade-old superbug mystery in just 48 hours. This breakthrough demonstrates the transformative potential of AI-driven drug discovery, offering a faster, more precise approach to tackling antimicrobial resistance - a growing global health threat. The UK is leading the way in integrating AI into biotech innovation, and as we continue to build on this momentum, the time to act is now - aligning industry and policy efforts will be crucial in transforming NHS data into a driver of world-class research and patient benefit.

Industry unites for joint report on unlocking NHS data for research

Access to high-quality health data is crucial for driving research and innovation across the life sciences sector. A newly released collaborative report outlines the steps needed to maximize the benefits of recent government investments in providing secure access to NHS data.

The report sets out five key recommendations for the NHS regional SDE network. This network aims to provide secure research access to a wide range of NHS data held in NHS Trusts across England. Prioritising high-value datasets, providing a unified service and forming an external advisory group are among the recommendations.

Register for an MHRA webinar on the new ILAP - 5 March

The MHRA is holding a webinar on the new Innovative Licensing and Access Pathway (ILAP), which was announced a few weeks ago. The refreshed ILAP aims to be the world’s first fully integrated end-to-end access pathway, and introduces more tailored support and predictable timelines for developers.

The eligibility criteria for ILAP have been revised, including limiting applications to medicines that have not yet entered their confirmatory trial. The webinar will provide an opportunity to find out more about the new pathway from speakers across the ILAP partners. It will take place on Wednesday, 5 March at 3-4pm.

Advanced Manufacturing Scale-Up Fund

DBT is developing the Advanced Manufacturing Scale-Up Fund, a government-backed initiative to support scaling advanced manufacturing firms, and is seeking to understand the need for such funding and tailor the funding programme to the needs of the advanced manufacturing sector (including biomaterials, biochemicals, novel biomanufacturing techniques and other subsectors spanning the deep biotech and advanced bio-manufacturing sector). Learn more and get involved