Sir Chris prescribes £500M for UK biotech industry

Noted UK biotech investor Sir Christopher Evans has analyzed what ails the country's development business and has come up with a cure. Comparing Great Britain's recent success in the Olympics with past failure, he says that a major investment made all the difference. And he's suggesting that the government join with private investors to inject £500 million pounds into biotech companies in the UK.

"People always ask why haven't we got an Amgen or a Genentech when we have brilliant science," says the investor. "There's a lot of reasons for this. There isn't enough world-class management, or enough ability to commercialize drugs. You have a lot of good scientists and academics who can't run a company. Also, if you're any good, you tend to get bought quickly. With these funds, industry experts would be able to direct cash to the right places. This would also encourage underperforming small companies to consolidate. The government has to underpin the consolidation fund because it was responsible for lots of start-ups and it's many of these start-ups that now have to consolidate."

- read the article from The Times

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