- Science Minister Vallance today visited semiconductors and life sciences firms in Cambridgeshire, following his appointment as Oxford-Cambridge Innovation Champion
- In new role, Vallance will convene local, national and business leaders to deliver coordinated action that drives investment, pulls in investment and unleashes growth
- Vallance will build on national responsibilities as Science Minister to strengthen connections between OxCam and wider UK, so this region is an economic engine for the entire nation in support of the Plan for Change
Lord Vallance has set out his ambitions for the Oxford-Cambridge corridor to be an economic engine for the whole of the UK, on a visit to Cambridgeshire today (Thursday 30 January) following his appointment as Oxford-Cambridge Innovation Champion.
The new role will complement Vallance’s existing national responsibilities as Science Minister, in which he will report in directly to the Chancellor and the Deputy Prime Minister. He will coordinate work from across all levels of Government, as well as in the private sector and academia, to promote and maximise this region’s unique and world-leading strengths.
This is the Plan for Change in action work that will ultimately benefit the whole country. Pulling international investment into the Oxford-Cambridge corridor could anchor cutting edge work in fields like AI, life sciences and semiconductors in the UK, and open up the country at large as a destination for further investment. This region already accounts for over 7% of total UK GDP, contributing over £40 billion to the UK economy, and fully realising its potential could add a further £78 billion by 2035 1.
While parts of the region are already collaborating cross-nationally – for example, the trailblazing partnership between the University of Manchester and University of Cambridge – Lord Vallance will specifically look to build more of these UK-spanning relationships, in his new role.
Science Minister and Oxford-Cambridge Innovation Champion, Lord Vallance, said
We are already putting billions behind the Oxford-Cambridge region through East-West Rail, the Culham AI Growth Zone, and our record-breaking backing for UK R&D.
As significant as each of these endeavours are in isolation, we stand to achieve so much more if we coordinate our efforts, to bring this remarkable area’s strengths together to create what would undoubtedly be one of the most important innovation zones in the world.
This is a mission that will be foundational to the decade of national renewal that this country is embarking on, by unlocking economic growth, and exciting new innovations that will boost our health and wellbeing.
Vallance will today meet with business leaders, researchers and engineers at two Cambridgeshire companies which exemplify the depth of talent, expertise and innovative thinking that is waiting to be tapped into, across the Oxford-Cambridge corridor. In Huntingdon he will visit Paragraf, the first company in the world to use the wonder material graphene to produce electronic devices for use in quantum computing, electric vehicles, energy storage, chemical testing and more at a commercial scale. In Cambridge he will see drug discovery company Astex, who has delivered three novel targeted cancer treatments through its pharma partnerships that are now approved for use in the UK, is now applying technologies like AI and quantum computing to develop new drugs for cancer and central nervous system disorders.
Life science and semiconductors are just two examples of the formidable strengths which exist across the Oxford-Cambridge region, and which underpin the existing economic successes there that this Government wants to build on. This is proof of the fundamental importance of R&D to growth, both in this region and across the UK. But making the economic benefits of research and innovation felt will be about more than just Government’s record-breaking £20.4 billion backing for R&D – with Vallance also looking to join the dots between academia, business, and increasingly Government procurement, to get research out of the lab and onto the marketplace. This can unlock a virtuous circle of growth, as commercial success then delivers funding for further R&D, and further innovative and successful products.
But from AI, to academia, to clean energy and beyond, what all these fields in which the OxCam region excels have in common are their needs to be nurtured and supported by the necessary infrastructure, investment, and skills base.
From access to lab space to trialling novel forms of research funding, these are challenges that Lord Vallance is already addressing head-on, together with the Science and Tech Secretary and officials at DSIT. His role as Champion will complement those ongoing efforts – whilst also galvanising and coordinating wider efforts across Government, from transport, to housing, to energy and water.
Yesterday the Chancellor announced a suite of news including breakthroughs on new reservoirs for Cambridge and Abingdon as well as a major new development planned for Cambridge that could unlock 4,500 new homes, funding for East West Rail and highways upgrades, funding for a new Cancer Research Hospital for Cambridge and a new Growth Commission for Oxford.
Astex President, CEO and co-founder, Dr. Harren Jhoti OBE, FRS, FMedSci said
We are delighted to have welcomed Patrick to Astex to celebrate our 25th year anniversary, and to discuss the future for life sciences in Cambridge and the UK. As scientists, we hope that our discoveries will make a difference to patients, and as entrepreneurs we strive to build sustainable companies to translate those discoveries into significant new medicines. The Astex team is fortunate to have achieved both goals. The company has also greatly benefited from the growth and development of the UK life sciences sector in the last 25 years into a leading international powerhouse, and the very strong culture of innovation and entrepreneurship in Cambridge.
Looking forward to the next 25 years, we will continue investing in the Cambridge life sciences ecosystem by establishing a brand-new R&D facility, and championing open innovation and discovery through collaboration. Products we discover in-house and in partnership with academic partners, have the opportunity to be developed and commercialised through operating subsidiaries within the Otsuka group in the major markets worldwide and through selective strategic collaborations with pharma partners globally.
Paragraf Co-Founder and CEO Simon Thomas said
Having Patrick here in Cambridgeshire gives us the opportunity to demonstrate how graphene and other 2D materials will drive the next generation of faster, more power-efficient computing. Realising this potential will not only fuel the UK’s economic growth but also create new apprenticeships and jobs right here in Cambridgeshire. To achieve this, we need the support of the UK government, which is why we welcome the Minister to Paragraf today as part of his mission to strengthen the OxCam ecosystem of future industries.
NOTES TO EDITORS
About Astex Pharmaceuticals
Founded in Cambridge UK in 1999 Astex, is a leader in innovative drug discovery and development, committed to the fight against cancer and diseases of the central nervous system.
Astex pioneered Fragment-based drug discovery, a technique now widely used in the industry, and built a rich pipeline of drugs in preclinical and clinical development. Its partnerships with major UK research institutes and international pharmaceutical companies have led to three marketed cancer drugs that are now helping patients worldwide, namely Kisqali®, a blockbuster drug, Balversa® and Truqap®.
Astex is developing a proprietary pipeline of novel therapies and has a number of partnered products being developed under collaborations with leading pharmaceutical companies. Astex is a wholly owned subsidiary of Otsuka Pharmaceutical Co. Ltd., based in Tokyo, Japan.
Kisqali® is a trademark of Novartis AG. Balversa® is a trademark of Janssen Biotech, Inc., a company that is part of Johnson & Johnson. Truqap® is a trademark of AstraZeneca AB.
More information http//www.astx.com
About Paragraf
Paragraf is pioneering the mass production of graphene-based electronic devices using standard semiconductors processes. Our unique foundry capability produces differentiated graphene electronics as standard products that solve important problems in a range of applications, including automotive, industrial automation, aerospace, the electrification ecosystem, cryogenics, healthcare and agri-tech.
More information https//www.paragraf.com/
SOURCES
1. Public First research for the Oxford-Cambridge Supercluster Board (2025).
DSIT media enquiries
Email [email protected]
Monday to Friday, 830am to 6pm 020 7215 300
