Cancer Research UK (CRUK) is worried that rising prices and its total dependence on public donations mean its funding model is becoming unsustainable. The charity is calling on the U.K. government to step in and plug a £1 billion (US$1.23 billion) shortfall it said will open up over the next decade, in order to maintain investment at 2019 levels in real terms.
Cancer Research UK took a significant hit when its U.K.-wide charity shop chain had to close last year because of the pandemic. But, according to latest figures, its commercial arm could help it to bounce back after seeing its income more than double in the recent biotech boom. The organization reported record levels of investment in its spinout companies, which more than doubled in 2020-2021 compared with the previous year, jumping from £400 million (US$555 million) to £822 million (US$1.14 billion)
LONDON – COVID-19 is posing a real threat to the viability of medical charities in the U.K., which collectively fund 17,000 scientists and invest more than £1.3 billion (US$1.6 billion) per annum in research.
LONDON – A U.K. national plan to upgrade population cancer screening will see greater adoption of genomics and biomarker-based testing, and the use of artificial intelligence to help interpret results. There will be moves to make it easier to pilot and adopt novel diagnostics and to do more targeted screening to identify and follow people who are shown to be at greater risk of developing specific types of cancer.
LONDON – Two new $250 million investment funds have been announced, promising long-term capital to new companies formed around the U.K.'s science base. Ahren Innovation Capital LP, which is supported by eight of Cambridge University's most prominent scientists – including two Nobel laureates – has closed at $250 million. Meanwhile, SV Health Investors announced the launch of its $250 million seventh fund, with the charity Cancer Research UK (CRUK) putting in $25 million as cornerstone investor.