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GlaxoSmithKline Invests £40M in UK Life Sciences Sector

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GlaxoSmithKline has announced it will invest £40m into UK genetic research as part of the government’s life sciences sector deal.

Other companies are expected to announce further deals in the coming weeks with government sector deals forming part of a new industrial strategy aimed at boosting UK productivity.

The funding will strengthen initiatives in genetic research and in new medicine development.

The deals will provide partnerships with private sector companies in construction, artificial intelligence and automotive industries.

The government commissioned a report on the life sciences sector from Professor Sir John Bell who has recommended the creation of between two to three entirely new industries and four UK companies worth more than £20bn within the next ten years.

Read the full story on the BBC.