Life Sciences Hub to Accelerate Growth in Wales

Life Sciences Hub Wales launched by the Welsh Government has created a national and international focal point for the Life Sciences and Healthcare sectors in Wales to attract new sector opportunities and investment, creating jobs and accelerating economic growth.

Based in the heart of Cardiff Bay and supported by the £100 million Life Sciences Investment Fund, the largest dedicated investment fund for any sector in Wales the Hub was officially opened on July 17 by Welsh Minister for Economy, Science and Transport Edwina Hart.  Prof Chris McGuigan, Chair of Life Sciences Hub Wales, and Life Sciences Entrepreneur Prof Sir Chris Evans, together with businessman Theo Paphitis, of BBC Dragons’ Den fame also attended.

Minister Edwina Hart said: “The Hub will cover all elements from funding to business support to international development and promotion, bringing the Life Sciences sector together for easy access by both Welsh Life Sciences companies and inward investors. The £100 million Wales Life Sciences Investment Fund will be a key part of the support available to businesses, alongside other forms of finance and the Hub is central to our long-term strategy to grow the sector to deliver at least £1 billion of extra value by 2022.”

Professor Chris McGuigan added: “Wales has excellent credentials in the Life Sciences world – with world- leading anchor companies like GE, international excellence in research in our Universities and 100s of SMEs active in the area. The Life Sciences Hub will provide a central focus for the sector within a stone’s throw of the Welsh Government. With access to top-level advice and funding this will become the true Dragons’ Den, a Welsh Dragon’s Den, supporting Life Sciences innovation and cutting edge research in Wales. If you are in Life Sciences and in Wales you need to be in the Hub.”

 The £100m Wales Life Sciences Investment Fund was launched at the BioWales Conference in March 2013. The Welsh Government has invested £50 million into the Fund which will be managed by Arthurian Life Sciences Limited, established by serial biotech entrepreneur Professor Sir Chris Evans OBE. Arthurian has committed to raising another £50 million for the Fund.”

Sir Chris Evans said: “Often the hardest part of being an emerging business or an entrepreneur in the Life Sciences space is having the availability of funds. But not just that, it’s also having access to the pooled experience and knowledge of those who have done it before and the professional bodies and advisers who regularly serve our industry. I’m delighted that Wales has today made those key elements readily available through the Fund and the Life Sciences Hub and it shows to the rest of the world that Wales is a great place for Life Sciences innovation.”

Dragons’ Den star and one of the UK’s leading businessmen Theo Paphitis commented: “The UK’s economic growth is dependent on us tapping into the spirit of innovation and entrepreneurship that our country is so proud of. Whether it be in the retail world or in Life Sciences, what we need is Government to support growth and a shared passion for success. The launch of the Hub shows that this is alive and well in Wales for Life Sciences and with initiatives like this improving lives and creating more jobs - I’m in!"