The life sciences sector across Greater Manchester and Cheshire is to be given High Potential Opportunity (HPO) status by the Department for International Trade (DIT) following a successful bid by the region’s leaders.
The North West Life Science Cluster is to promoted by DIT for international investors looking to design, develop, test, and commercialise new diagnostics and early interventions for healthy ageing. The region has been awarded HPO status for its life sciences sector following a joint campaign by inward investment agency, MIDAS, and Cheshire and Warrington Local Enterprise Partnership (C&W LEP).
The collective strengths of the Cheshire and Greater Manchester regions have been highlighted in DIT document, High Potential Opportunity: Diagnostics and Early Intervention for Healthy Ageing.
Attaining HPO status underlines the North West’s importance and prominence in the UK life sciences sector, which is worth more than £80.7 billion a year to the economy, and draws attention to the region’s key strengths in molecular diagnostics, digital health and drug discovery and development. The sector’s growth also forms a key pillar of Greater Manchester’s Local Industrial Strategy and Economic Vision.
Tim Newns, CEO of MIDAS, Greater Manchester’s inward investment agency, said:
“As outlined in the Greater Manchester Local Industrial Strategy and Economic Vision, Greater Manchester aims to be a global leader in health and care innovation by improving health outcomes and extending life expectancy. With proven research capabilities and as one of the largest life science and healthcare clusters in the EU, this HPO reaffirms the skills, partnerships and commercial opportunities that exist in Greater Manchester and Cheshire for companies developing new healthcare solutions.”
Lou Cordwell MBE, Chair of Greater Manchester LEP said:
The launch of this HPO is an important step in helping Greater Manchester forge new partnerships and attract investment from those at the forefront of health innovation. Our region already has so much to offer – world-leading research capabilities, access to talent, and one of the largest life sciences clusters in the UK.
“Innovation in areas like diagnostics will be crucial to supporting an ageing society. In collaboration with our counterparts in Cheshire and Warrington, we’re ready to play our part in responding to this global challenge.”