Life Sciences Businesses - Question

Part of the debate – in the House of Lords am 2:57 pm ar 26 Chwefror 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Johnson of Lainston Lord Johnson of Lainston Minister of State (Department for Business and Trade) 2:57, 26 Chwefror 2024

I am grateful to my noble friend for that point. This is very much the work of the Office for Life Sciences, the Department for Business and Trade, and the Office for Investment. We do a huge amount of work liaising with companies and investors. One of our missions is to get more life sciences funds established in the UK, so that we can, I hope, benefit from the home buyer. I was particularly pleased a few months ago to celebrate the opening of the Flagship Pioneering office in London, which is precisely that sort of life sciences fund. It was part of the incredible investment in companies such as Moderna. We want them here and they want to come to the UK. If we can encourage them to do this, it will have a huge advantage in bridging the gaps my noble friend mentioned.