| Dr PM Murali, President, ABLE and Ian Felton, British Deputy High Commissioner |
UK Trade & Investment (UKTI) and the Association of Biotech Led Enterprise (ABLE) recently signed a memorandum of understanding (MoU) in Bangalore to encourage and develop collaborative opportunities between Indian life sciences organisations and the UK.
Ian Felton, British Deputy High Commissioner, said, “Oncology is a key area of concern in the UK and in India. This mission is here to firm up relations on some extremely innovative work in the area of oncology. UK-India Joint Innovation in the discovery and delivery of oncology will help to make this element of healthcare accessible and affordable to patients in both countries.”
Dr PM Murali, President, ABLE said, “ABLE is pleased to be signing an MoU with UKTI for collaborating on a range of opportunities. Cancer represents one of the most challenging disease areas that require researchers and clinicians to work together at a global level. We recognise the importance of this delegation and appreciate its purpose.”
The MoU, a milestone for the UK Oncology Mission will aim at combining UK’s heritage and leadership in the area of healthcare and life sciences and India’s emerging and thriving healthcare ecosystem to promote and develop the life sciences sector in both countries. ABLE and UKTI also run the core initiative groups in different sector strands in life sciences.
The partnership will include the participation of UK and Indian experts in life sciences in the areas of industry, research and trade. It will further promote UK and India as each other’s partner of choice in life sciences such as drug discovery, bioinformatics, regenerative medicine, clinical research, agri-bio, oncology and regulation. This will be done through on-going research and discussion, identifying areas of potential business opportunity that can be addressed by Indian and UK firms.
At Bangalore, the delegation visited Health Care Global (HCG) Hospital, Biocon, Mitra Biotech, Mazumdar Shaw Cancer centre etc. “Our main aim is to facilitate collaboration between like minded Indian organisations in lifesciences and healthcare having common interest in oncology with the Uk-based organisation to make oncology care more affordable and accesible,” said John Lownds, Acting Head of UK Trade & Investment’s Strategic Trade Life Sciences Team. “The MOU would cement relationship we are looking to build in India.” he added.
Jon Mowles, Life Sciences Sector Specialist, UKTI said, “There are three fiscal incentives for investors. First, corporation tax in the UK will go down to 20 per cent by 2015; companies will get tax credits for research in the UK and the patent box initiative, whereby tax on profits from the UK patents will be reduced to 10 per cent.”
EP News Bureau – Bangalore