The new package announced by the government has been presented as a "war chest" that will support scientific innovation in the life sciences sector and help the UK reach its target of becoming a "science superpower".

The 'Life Sci for Growth' package includes 10 different policies. As part of this effort, up to £250m will be provided to incentivise pension schemes to invest in promising science and tech firms, while £154m will be invested in increasing the capacity of the UK’s biological data bank.

In addition, the government has pledged to provide £121m to improve commercial clinical trials to bring new medicines to patients faster, and up to £48m for scientific innovation to prepare for any future health emergencies.

The project also includes plans to relaunch the Academic Health Science Network as Health Innovation Networks to boost innovation by bringing together the NHS, local communities, charities, academia and industry...