UKTI signs MOU with lifescience industry body to encourage business collaborations

UK Trade & Investment (UKTI) and the Association of Biotech Led Enterprise (ABLE) has signed a memorandum of understanding (MoU) to encourage and develop collaborative opportunities between Indian life sciences organisations and the UK, on September 4, at Bangalore.

British Deputy High Commissioner, Ian Felton said, “Oncology is a key area of concern in the UK and in India. This mission is here to firm up relations on some extremely innovative work in the area of oncology. UK-India Joint Innovation in the discovery and delivery of oncology will help to make this element of healthcare accessible and affordable to patients in both countries.”

Dr PM Murali, President, ABLE said, “ABLE is pleased to be signing an MOU with UKTI for collaborating on a range of opportunities, one of which is happening today. Cancer represents one of the most challenging disease areas that require researchers and clinicians to work together at a global level. We recognize the importance of this delegation and appreciate its purpose.”

The MOU, a milestone for the UK Oncology Mission will aim at combining UK’s heritage and leadership in the area of healthcare and life sciences and India’s emerging and thriving healthcare ecosystem to promote and develop the life sciences sector in both countries.

The partnership will include the participation of life sciences experts of UK and India in the areas of industry, research and trade. It will further promote UK and India as each other’s partner of choice in life sciences such as drug discovery, bioinformatics, regenerative medicine, clinical research, agri-bio, oncology and regulation. This will be done through on-going research and discussion, identifying areas of potential business opportunity that can be addressed by Indian and UK firms.

UK Oncology Mission a tri-city tour (Mumbai, Bangalore and Chennai) from September 2-7, 2013 comprises 12-member delegation from universities, healthcare companies, cancer research organisations and healthcare providers such as diagnostics and drug delivery systems.

At Bangalore, the delegation visited Health Care Global (HCG) Hospital, Biocon, Mitra Biotech, Mazumdar Shaw Cancer center etc. “Our main aim is to facilitate collaboration between like minded Indian organisations in lifescience and healthcare having common interest in oncology with UK-based organisations to make oncology care more affordable and accessible,” said John Lownds, Acting Head of UKTI’s Strategic Trade Life Sciences Team. “The MOU would cement relationship we are looking to build in India,” he added.

Jon Mowles, Life Sciences Sector Specialist, UKTI said, “There are three fiscal incentives for investors. First, corporation tax in UK will go down to 20 per cent by 2015; companies will get tax credits for research in UK and the patent box initiative, whereby tax on profits from UK patents will be reduced to 10 per cent.”

EH News Bureau