The UK government has unveiled a £650m fund for the life sciences sector, as it looks to support the development of companies in manufacturing, skills and infrastructure. 

Bringing together 10 different policies, the ‘Life Sci for Growth’ package includes up to £250m to incentivise pension schemes to invest in science and tech firms, £154m to increase the capacity of the UK’s biological data bank and £121m to improve commercial clinical trials to bring new medicines to patients faster. 

Announcing the news on May 25, chancellor of the exchequer Jeremy Hunt said that the sector employs more than 280,000 people and contributed £94bn to the UK economy in 2021. “These are businesses that are growing our economy while having much wider benefits for our health — and this multi-million pound investment will help them go even further,” he said. 

Malawi seeks agriculture, tourism and mining FDI

Malawi’s president Lazarus Chakwera has said that Malawi is poised to become “the next biggest investment destination”, as the government kickstarts various reforms to entice more foreign businesses into the country.

Speaking virtually at the Malawi Investment Forum, at the Emperor’s Palace in Johannesburg, South Africa, on May 24, Mr Chakwera invited listeners to consider investment and partnership opportunities in agriculture, tourism and mining.

“Do not miss out on the investment windfall coming [Malawi’s] way, as we are committed to addressing legislative, administrative and legal reforms that [reduce] the cost of doing business,” he said.

Stellantis invests in new battery technology 

Automotive multinational Stellantis announced on May 25 that its corporate venture fund has invested in US start-up Lyten to develop lithium–sulphur based batteries for electric vehicles.

Unlike traditional lithium-ion batteries, Lyten’s lithium-sulfur batteries do not use nickel, cobalt, or manganese, resulting in an estimated 60% lower carbon footprint than today’s best-in-class batteries, the company said in a statement. Raw materials for these batteries can also be supplied locally in North America or Europe.

Lyten is also a pioneer in three-dimensional graphene, a material with a graphene based framework which can be used in electrochemical devices.

And finally: US secretary of commerce Gina Raimondo met with her Chinese counterpart Wang Wentao in Washington DC on May 25 to discuss the US–China trading relationship.