By understanding and catering to the needs of CGT businesses, they can tap into a growing market that's transforming healthcare and creating a new type of demand.
Specialised facilities, such as cleanrooms and laboratories, are necessary to meet regulatory requirements and ensure the safe development of therapies. The transportation of patient materials requires specialized conditions, so making the choice of location critical. Being located near a hospital with very specific expertise is essential.
The best case scenario? Having the entire cycle of events required for CGT located in close proximity - but there are few locations in the country that can offer all of this.
The importance of supporting our most successful clusters across Oxford and Cambridge cannot be underestimated if we are to maximise the potential of this sector in the UK.
Supporting Key Clusters
CGT is a ground-breaking technology, but it's currently expensive. To drive down costs and boost innovation, it's crucial to invest in research, development, and the nurturing of key industry clusters. These clusters create a reinforcing loop that advances the technology and ensures its wider adoption.
By supporting key clusters, investors and developers contribute to the growth of innovation hubs while benefitting from the increasing demand for specialised real estate. By supporting the distinct growth by attracting the right kind of start-ups and mid-sized businesses they can have real impact on the long term health of this sector, and the nation.
New companies play a crucial role in developing techniques to drive down costs and extend the application of CGT technology. This makes it essential to be within the ecosystem for fostering innovation and reducing expenses.
Developing real estate projects that support the growth of CGT clusters has other multiple benefits, such as increased accessibility to resources, talent, and knowledge exchange.
Scaling up to personalise medicine
Moderna's decision to locate its facility at Harwell highlights the importance of the experience and knowledge held within the local ecosystem. This strategic move showcases the importance of global standing clusters and their potential to attract keystone companies.
The firm’s arrival in Oxfordshire will now attract other businesses keen to collocate with the global giants - in the way that AstraZeneca's arrival in Cambridge attracted other fast-growing UK research businesses to the Cambridge Biomedical Campus.
The CGT sector is attracting significant venture capital and public investment thanks to its cutting-edge technology and niche expertise but there are challenges surrounding NHS subsidies that have raised concerns among pharmaceutical companies, potentially affecting their continued investment in the UK market.
Investors and developers should be mindful of these issues, as they have the potential to shape the growth and development of the CGT sector but the arrival of Moderna at Harwell could be a milestone moment for the UK industry as it seeks to become a global leader.
The CGT sector's growth has led to a noticeable shift in real estate trends, particularly in Cambridge and Oxford with investors and developers capitalising on this growing market which is creating a new demand for specialised real estate.
By understanding and addressing the unique needs of CGT businesses, investors and developers can tap into a growing market that's transforming healthcare and the future of Life Sciences real estate.
