HM Treasury
David Gauke, Chief Secretary to the Treasury, was in Oxford today (30 January 2017) to welcome global healthcare company Novo Nordisks announcement of an investment of more than 100 million in the city, creating 100 skilled jobs in diabetic drug discovery in a new research centre.
Laboratory facilities are being created in a new state-of-the-art Oxford University building, which has received 12 million of government funding. Two floors of the building will be occupied by Novo Nordisk and two floors by start-up companies created from ongoing Oxford University research.
Novo Nordisks research will help discover new ways of treating type 2 diabetes, one of the worlds biggest public health issues.
The Chief Secretary earlier hosted a round table with senior representatives of Oxford technology companies, covering sectors including autonomous vehicles, biotechnology and reforestation. They discussed government support, including the Industrial Strategy, as well as opportunities and challenges for the future.
Chief Secretary to the Treasury, David Gauke said:
I welcome Novo Nordisks investment at Oxford University, which is a vote of confidence in the UKs position as a world-leader in science and research.
A thriving science and technology sector is key to supporting economic growth, and the government has committed to support further research and innovation in all sectors with an additional 4.7 billion R&D spending by 2020-21.
We are also listening to our industries about their challenges and ambitions. Thats why I sat down today with representatives from some of Britains outstanding technology companies based in Oxford.
The UKs strengths in science, research and innovation are a major focus of the governments industrial strategy.
The government has announced a range of support for science and technology, including:
- an additional 4.7 billion by 2020-21 of R&D spending the largest increase by any government since 1979
- this is in addition to existing commitments from the spending review to protect science resource funding in real terms over the parliament and spend 6.9 billion on capital infrastructure between 2015-2021*a new Industrial Strategy Challenge Fund, to support business-university collaboration
Meeting attendees:
- Ryan Cawood, CEO Oxford Genetics
- Dr Gordon Sanghera, CEO Nanopore Technologies
- Mike Clary, CEO Bodle Technologies
- Eliot Forster, CEO Immunocore
- Professor Andrew Harrison, CEO Diamond Light Source
- Dr Graeme Smith, CEO Oxbotica