Life Sciences: Finance

Department for International Trade written question – answered on 20th April 2021.

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Photo of Mary Glindon Mary Glindon Opposition Whip (Commons)

To ask the Secretary of State for International Trade, with reference to the £800 million commitment from Mubadala as part of the UAE-UK Sovereign Investment Partnership, which areas of the life sciences sector will receive funding from that Partnership.

Photo of Graham Stuart Graham Stuart Parliamentary Under-Secretary (Department for International Trade)

The UK Government remains committed to providing £200m in funding to unlock additional investment in our world-leading life sciences sector. We are working closely with Mubadala and considering how best to deploy this funding in light of Mubadala’s own £800m commitment to the sector.

In total, this means £1bn of new funding available for our most promising life sciences companies, with the potential to crowd in more funding from other investors.

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