Life science sector given SEK 900 million injection
The government announced on Friday a boost to help protein research, with more than SEK 900 million going towards the development and production of new biomedicines over the next eight years.
The government, along with the Knut and Alice Wallenberg Foundation and the pharmaceutical company Astra Zeneca, will create a new research center in Stockholm with the intention of creating a new platform for innovation within the life science sector, which would lead to new knowledge, and in the long run, to new medicines in the future, reports Swedish Radio News.
According to the Minister for Innovation and Enterprise, Mikael Damberg, society stands before new challenges, with infections and new illnesses taking hold. At the same time, several countries during the past decade, have surpassed Sweden in this industry, leading to many jobs disappearing from Sweden. The government wants to change that, says Damberg.
The program will be run by the state innovation agency, Vinnova, in partnership with the Swedish Research Council. The state will contribute SEK 320 million, while companies are expected to contribute SEK 80 million, and the Knut and Alice Wallenberg Foundation, universities and Astra Zeneca are expected to contribute a total of SEK 510 million.