Science minister visits Cambridge Science Park company Astex on visit to revive Oxford-Cambridge corridor
Science minister Patrick Vallance today visited Astex Pharmaceuticals on Cambridge Science Park, following his appointment as Oxford-Cambridge Innovation Champion.
Lord Vallance, who was appointed to the role in July last year, was on a visit to the region for the first time since he took on the additional role of delivery responsibilities for the Oxford-Cambridge corridor project, complementing his role as science minister.
The visit took place amid the biotechnology company’s 25th anniversary. The new minister toured Astex’s facilities in two buildings on Cambridge Science Park, where the 200 staff are focused on the discovery and development of drugs in oncology and diseases of the central nervous system.
Lord Vallance said: “I congratulate Astex on its 25 years. Your achievements are very impressive and a great success story.”
During the visit Lord Vallance showcased the UK government’s renewed interest in the controversial Oxford-Cambridge corridor - a £250bn project with plans to double housebuilding rates in the area and deliver infrastructure like East West Rail and the Oxford-Cambridge Expressway contributing significantly to this figure. The chancellor, Rachel Reeves, has said that growth in the corridor can boost the UK economy by up to £78bn.
“We are delighted to have welcomed Patrick to Astex to celebrate our 25th year anniversary, and to discuss the future for life sciences in Cambridge and the UK,” said Astex president, CEO and co-founder, Dr Harren Jhoti. “As scientists, we hope that our discoveries will make a difference to patients, and as entrepreneurs we strive to build sustainable companies to translate those discoveries into significant new medicines. The Astex team is fortunate to have achieved both goals.
“The company has also greatly benefited from the growth and development of the UK life sciences sector in the last 25 years into a leading international powerhouse, and the very strong culture of innovation and entrepreneurship in Cambridge.”
Lord Vallance set out the UK government’s ‘Plan for Change’ vision for the Oxford-Cambridge corridor to be an economic engine for the whole of the UK on his visit to the region - the net stop was Paragraf in Huntingdon. His new role sees him eporting directly to the Chancellor and the Deputy Prime Minister: he will “coordinate work from across all levels of government, as well as in the private sector and academia, to promote and maximise the region’s unique and world-leading strengths”.
The Cambridgeshire sector already accounts for more than 7 per cent of total UK GDP, contributing over £40billion to the UK economy, and the government says that “fully realising its potential could add a further £78billion by 2035” if issues around water and environmental damage can be set aside.
“We are already putting billions behind the Oxford-Cambridge region through East-West Rail, the Culham AI Growth Zone, and our record-breaking backing for UK R&D,” said Lord Vallance.
“As significant as each of these endeavours are in isolation, we stand to achieve so much more if we coordinate our efforts, to bring this remarkable area’s strengths together to create what would undoubtedly be one of the most important innovation zones in the world.
“This is a mission that will be foundational to the decade of national renewal that this country is embarking on, by unlocking economic growth, and exciting new innovations that will boost our health and wellbeing.”
Other Cambridge companies have supported the Plan for Change.
Jack Stockdale, chief technology officer at Darktrace, said: “We welcome today's announcement and I am excited to see the region’s status as a powerhouse for UK growth and prosperity strengthen even further."
John Hartley, CEO of Levidian, said: “Today’s announcement underscores the government’s commitment to fostering economic growth and innovation, which are vital to ensuring the UK remains a global leader in clean technology.”