Former Political Rivals Publish Report on Leading the Biotech Revolution

Former political rivals Sir Tony Blair and Lord William Hague have joined forces to produce a report of recommendations to help the U.K. stay at the forefront of growth in biotechnology and artificial intelligence.

This is the third in a series of reports, the first of which was published last year in February 2023, where they highlight that this new “strategic state” needs to embrace the technological revolution. The latest report, published on 25 January 2024, argues that biotechnology is an absolutely critical part of the revolution. 

Globally, the biotech sector is already worth more than $6 trillion in market capitalisation; companies in the United States of America are responsible for over half of that and these companies are at the forefront of synthetic biology, biofuels and biopharmaceuticals. The U.S. has the ability to turn research into commercial scale more easily than many other countries. Denmark and Switzerland have also developed world-leading biotech companies and China is investing a large amount in the sector. But British scientists showed their excellence in responding to the Covid-19 pandemic – the development and deployment of new vaccines demonstrated what can happen when the government and the private sector mobilise effectively behind a clear purpose.

The report sets out key proposals on how Britain could further progress in this revolution and not be left behind by the ever-growing global competition. A high-level summary of the three key proposals as follows:

1. Space. A new laboratory, the Laboratory of Biodesign, to be created to focus on the invention of new biotechnology that is at too early a stage for commercial investors. The idea would be to incentivise commercial spinouts and have world-leading facilities, such as state-of-the-art computational-biology tools. Similar efforts in the U.S. fusing science and engineering under one roof are using generative AI to produce novel proteins and are driving a biotech boom.
2. Data. An establishment of an NHS Data Trust to facilitate using health-care data to support breakthroughs in medicine, to be owned and controlled by the NHS in collaboration with trusted external partners. This would involve providing anonymised data to research entities, including biotech companies, in return for financial profit that would then benefit our health service.
3. Finance. An expansion of the work of the British Business Bank, improved rules for Venture Capital Trusts and consideration of scale-up grants where companies will list in Britain. All these initiatives need proper financing in order to succeed. 

Blair and Hague stated: “We both believe that whether Britain can establish a leading position in science and innovation will be the single most important determinant of our future prosperity, and therefore of the jobs, living standards and security of British people. That great opportunities could spring from artificial intelligence has become well understood in the last year. Biotechnology now also brings the prospect of fundamental change in how we work and live. There is not a moment to lose in making the most of it.”

Link to the full report here: https://www.institute.global/insights/politics-and-governance/a-new-national-purpose-leading-the-biotech-revolution