UK offers to conduct clinical trials for Israeli companies.
The invitation is part of the burgeoning collaboration between Israel and Britain's life sciences industries through the UK-Israel Tech Hub at the British Embassy in Tel Aviv.
21 July 13 19:24, Gali Weinreb
Britain's National Health Service (NHS) has invited Israeli life sciences companies to conduct clinical trials in the UK. The invitation was made as part of the burgeoning collaboration between Israel and Britain's life sciences industries through the UK-Israel Tech Hub at the British Embassy in Tel Aviv and UK Trade and Investment (UKTI).
UK has an advantage in conducting clinical trials, because everyone is insured and receives treatment through the NHS. It is the largest single healthcare provider in the world. The NHS recently established a center which is responsible for all official trials in the country. The center seeks to minimize the bureaucracy for clinical trials, which has had an impact on the ground. Since the consolidation of clinical trials under one roof, the proportion of cancer patients participating in studies has risen from 5% to 20%. The corresponding figures are 5% in the US, 11% in Canada, and 4% in Israel.
Britain's life sciences industry has an annual turnover of £50 billion. There are 4,000 companies in the industry, including two big pharma firms: GlaxoSmithKline plc (NYSE; LSE: GSK) and AstraZeneca plc (LSE: NYSE: AZN).
"At the last Israel Biomed Conference, we hosted a range of British start-ups which were seeking opportunities with their Israeli counterparts. We're at the start of relations with great potential. We're supported by both governments," said UK Israel Tech Hub biomed sector director Dr. Iris Geffen Gloor.