Chief Secretary welcomes an investment of more than £100 million creating 100 jobs in Oxford medical research
David Gauke announces global healthcare company collaboration with Oxford University and meets some of the city’s leading tech companies.
David Gauke, Chief Secretary to the Treasury, was in Oxford yesterday (30 January 2017) to welcome global healthcare company Novo Nordisk’s announcement of an investment of more than £100 million in the city, creating 100 skilled jobs in diabetic drug discovery in a new research centre.
Laboratory facilities are being created in a new state-of-the-art Oxford University building, which has received £12 million of government funding. Two floors of the building will be occupied by Novo Nordisk and two floors by start-up companies created from ongoing Oxford University research.
Novo Nordisk’s research will help discover new ways of treating type 2 diabetes, one of the world’s biggest public health issues.
The Chief Secretary earlier hosted a round table with senior representatives of Oxford technology companies, covering sectors including autonomous vehicles, biotechnology and reforestation. They discussed government support, including the Industrial Strategy, as well as opportunities and challenges for the future.
Chief Secretary to the Treasury, David Gauke yesterday said:
I welcome Novo Nordisk’s investment at Oxford University, which is a vote of confidence in the UK’s position as a world-leader in science and research.
A thriving science and technology sector is key to supporting economic growth, and the government has committed to support further research and innovation in all sectors with an additional £4.7 billion R&D spending by 2020-21.
We are also listening to our industries about their challenges and ambitions. That’s why I sat down today with representatives from some of Britain’s outstanding technology companies based in Oxford.
The UK’s strengths in science, research and innovation are a major focus of the government’s industrial strategy.
The government has announced a range of support for science and technology, including:
- an additional £4.7 billion by 2020-21 of R&D spending – the largest increase by any government since 1979
- this is in addition to existing commitments from the spending review to protect science resource funding in real terms over the parliament and spend £6.9 billion on capital infrastructure between 2015-2021*a new Industrial Strategy Challenge Fund, to support business-university collaboration
- Ryan Cawood, CEO Oxford Genetics
- Dr Gordon Sanghera, CEO Nanopore Technologies
- Mike Clary, CEO Bodle Technologies
- Eliot Forster, CEO Immunocore
- Professor Andrew Harrison, CEO Diamond Light Source
- Dr Graeme Smith, CEO Oxbotica
Latest News from
New customs proposals laid out by Government in new paper on future relationship with the EU16/08/2017 09:12:00
The first of a series of papers on the UK’s future partnership with the EU.
Matchmaking scheme helps businesses find £4 million of finance14/08/2017 12:10:06
Small businesses struggling to access finance from big banks have received almost £4 million of funding thanks to an innovative scheme.
New powers to introduce tough sanctions against individuals, organisations and foreign governments02/08/2017 15:45:00
The government unveils new plans on sanctions for post-Brexit Britain.
New National Investment Fund to back innovative UK firms02/08/2017 09:10:11
'It's vital that we make sure our cutting-edge firms have the funding they need to meet their potential and conquer new markets' says Chancellor.