MedCity brings together the leading centres of medical research in London, Cambridge and Oxford as they work to translate their research into new healthcare applications for the benefit of patients and the economy.
The new body will position the London-Oxford-Cambridge life sciences sector as a world-leading cluster that will match financial services in its importance to the UK economy.
MedCity is funded by £2.92m from the Higher Education Funding Council for England and £1.2m from the Mayor of London’s Office.
Speaking at the launch, Boris said: “Together with Oxford and Cambridge we form a ‘golden triangle’ of scientific innovation and we need to channel that intellectual pre-eminence into a positive impact on our economy.
“MedCity will span everything from research to clinical trials to manufacturing, across biotech, med tech and health tech. I am in no doubt that having the whole ‘chain’ from small spin-offs to massive companies doing their research, clinical development and manufacturing here in London and the south east can be as important to our economy as the financial services sector is today.”
Pictures courtesy of Imperial College London.