Key issues surrounding funding and intellectual property (IP) for companies and researchers in North-east Scotland’s strategically significant life sciences sector are to be explored at a seminar in Aberdeen next month.
The event, organised by private sector led economic development body Opportunity North East (ONE) and international law firm CMS, will look at the opportunities and challenges facing the sector in the region; seed capital and growth funding; IP in the context of funding rounds; and life sciences in the context of the London Stock Exchange’s main and alternative investment markets.
The seminar, which is aimed at life sciences companies in the region and those working within the related research and academic communities, will feature presentations from Professor Stephen Logan, Chair of ONE’s Life Sciences Board; Carina Healy, a Partner and commercial and IP specialist with CMS; Frank Fowlie, a Partner and corporate law specialist in the Aberdeen office of CMS; and Mark Fahy, from the London Stock Exchange.
The life sciences sector is an important part of the region’s economy with more than 2,500 people employed within its companies and research base making an annual contribution of £160m GVA. The North-east accounts for more than one fifth of employment in Scottish life sciences research and development and Aberdeen has one of the highest concentrations of life scientists in the UK outside of Cambridge.
Prof Stephen Logan, chair of ONE’s Life Sciences Board, said: “We have a strong and globally recognised life sciences sector in the region, which we have significant ambitions to build. Companies based in Aberdeen have attracted in excess of £280m of investment in recent years while the academic research base has secured a further £250m. More than 114 life sciences patents have been filed in the region in the past five years.
“Aberdeen has a history of high quality spin out companies but these are often acquired or move out of the region to grow. Equally, the international research capabilities within the University of Aberdeen, RGU, NHS Grampian and Rowett Research Institute develop innovations which are sometimes developed outside the region, or outside Scotland.
“This seminar will look at some of the issues for companies and researchers in the sector which are fundamental to our vision to anchor, build and attract life sciences companies and investment to the region. Doing this will enable us to build upon our globally recognised life science competencies that are applicable to high growth and high value healthcare markets,” said Prof Logan.
Frank Fowlie, Partner at CMS, said: “Life sciences is an innovative sector which has the capability to produce explosive growth for companies with great people and the right funding structure. Here in Aberdeen we possess a global talent pool and leading educational facilities, which could all provide a strong platform to develop a formidable life sciences sector.
“This event demonstrates the city’s strong potential and with ONE’s support it is clear that the city and the surrounding region is in a great place to progress this opportunity,” said Mr Fowlie.
The seminar will run from 0800 to 1030 on 4 October at CMS’s Aberdeen office on Queens Road and is free to attend. To register an interest in attending, please contact Frank Fowlie by email at frank.fowlie@cms-cmck.com.