Medicines and diagnostics manufacturing transformation fund
In November 2020, Prime Minister Boris Johnson announced a new £20m fund to manufacture medicines and diagnostic equipment in the UK. The scheme is now live and is accepting applications until 30 June 2021. More information is available here.
I was pleased to join a call with colleagues from the Department for Business, Energy & Industrial Strategy (BEIS) today, who provided further details on the scheme. The fund is designed to support medical device and diagnostics companies who are looking to increase their manufacturing capacity. Applicants will need to evidence how their intended project will provide a positive impact to the UK economy through the deployment of innovative manufacturing processes.
Grants will be awarded to support capital investment for new facilities, or expansions to exiting sites, subject to a minimum project size of £8million. It will not cover areas such as R&D, skills or training.
Manufacturers can apply for a share of up to £20 million in capital grant funding to manufacture medicines and diagnostic equipment in the UK. The fund is open to private sector manufacturers of:
- human medicines
- medical diagnostics
- medical technologies (MedTech)
The minimum total eligible project cost for applications is £8 million. There is no upper limit on the size of projects.
You can submit more than one application, but these must be for different investments.
The deadline for final applications is 11:59pm on 30 June 2021.