Hertfordshire’s proactive life sciences sector showcased at summit
Experts discuss the challenges and opportunities facing the sector
More than 4,000 people work in life sciences across 250 companies in Hertfordshire and the county is seen as a proactive and attractive inward investment location for the sector.
The sector contributed around £5.3 billion to the local economy in 2022 and is set for considerable expansion making it an ideal topic for the Chamber’s latest sector summit at Stevenage Bioscience Catalyst (SBC).
CEO Donna Schultz said: “Life sciences have been high on our agenda for years, as we recognise its importance to the county and the many companies within its associated supply chain.
“This summit supported our work on behalf of the Local Skills Improvement Plan, for which many of our members have provided valuable input.
“We’re grateful to the speakers and panellists for sharing their insights and we’d like to thank headline sponsor Hatfield Park for its support and fellow sponsor Stevenage Bioscience Catalyst for making us so welcome.”
Guest speakers were SBC Chief Executive Officer Dr Sally Ann Forsyth OBE, Hatfield Park Estates Director Anthony Downs and Paul Witcombe, who is Sector Lead: Life Sciences and Advanced Manufacturing at Hertfordshire Futures, formerly Hertfordshire Local Enterprise Partnership.
Sally Ann discussed the role SBC played in the growth of the Stevenage Cluster. SBC is globally recognised at the centre of Europe’s largest cell and gene cluster where companies develop and commercialise cutting edge therapies.
Companies based there employ more than 4,000 people and it is home to the likes of GSK, the Cell and Gene Therapy Catapult, LifeArc, Cytiva and a growing cluster of start-up companies which have raised more than £3.6 billion in funding.
Sally Ann said while the Golden Triangle of Oxford, Cambridge and London, which has Hertfordshire at its heart, is known for its excellence in early-stage research, less than 10 per of companies grow beyond the phototype stage and specialist intervention is needed to increase success to commercialisation.
SBC is currently working on its Stevenage campus expansion plan with Reef Group and UBS Asset Management. UBS Asset Management and Reef are expected to deliver up to £900m of investment alongside an estimated 1.4 million square feet of laboratory and office facilities, providing space for up to 5,000 new jobs.
Fellow speaker Paul Witcombe shared his insights on the evolution of Hertfordshire’s life sciences cluster.
It is predicted that in the next three to five years Hertfordshire’s life sciences sector will see sustained growth across medical technologies as well as biopharmaceuticals through the expansion of existing businesses and inward investment.
During the same period, it is also predicted the area’s cell and gene therapy organisations will accelerate their commercialisation journey and more new businesses will follow.
Paul said the sector needs a reliable supply of talent, early stage business support and finance, an international profile, strong levels of networking, effective commercial property solutions and digital infrastructures.
He concluded by highlighting several emerging opportunities for the sector, including the establishment of an emerging industrial cluster and the potential to scale growth companies.
Finally, Anthony Downs discussed the Gascoyne Estates’ desire to find a partner to deliver the Hatfield Innovation Campus. The intention is it will become a hub for science and technology talent where research and design companies can scale up.
The summit also included a panel discussion featuring University of Hertfordshire Professor of Pharmaceutics Darragh Murnane, Agility Life Sciences CEO Professor Claire Thompson, ImmuONE Director, Co-founder and CEO Dr Abigail Martin and Soar Beyond Director of Innovation and Co-founder Tiba Rao.