The government has launched a joint public-private investment programme worth up to £400 million for cutting-edge health research.

The Voluntary Scheme for Branded Medicine Pricing, Access and Growth (VPAG) Investment Programme will channel investment into the UK’s health and life sciences sector over the next 5 years, with an aim to boost economic growth and the global competitiveness of the UK’s life sciences sector.

It is said to be the first major public-private collaboration of this scale in the world.

The money will be used to increase opportunities for patients to participate in commercial clinical trials. 75 per cent of the investment will be used to expand the UK’s capacity and capability for commercial clinical trials. 18 new clinical trial hubs will be created to fast-track the development of new medicines to patients. 

Around 20 per cent of the funding will be directed towards sustainable manufacturing initiatives, promoting efficiency and reducing waste and emissions within the pharmaceutical sector.

The remaining 5 per cent will focus on modernising HTA processes - a way to assess the cost and clinical effectiveness of new treatments. This includes support for the National Institute for Health and Care Excellence (NICE) HTA Innovation Laboratory.

Health and social care secretary Wes Streeting said: "This private investment is a significant vote of confidence in the UK and will fast-track the next generation of treatments to NHS patients.

"It will enhance the UK’s global competitiveness and transform the country into the epicentre of health research, supporting an NHS fit for the future.

"By cutting waiting lists and fixing our NHS, we can make it an engine for growth and build the healthy society needed for a healthy economy."
 

Science and technology secretary Peter Kyle said: "We are determined that the most effective new treatments are made available to NHS patients by ensuring the UK is the best place to discover and deploy new medicines, from early research through clinical trials to manufacture.

"Investing in cutting-edge medicines research both boosts our economic growth potential and the prospect of new treatments and technologies for modern patient care. Support for clinical trials is integral to both."