Inspiration: Sir Alexander Fleming (pictured), the Scottish physician who in 1928 discovered penicillin
Jeremy Hunt earmarked £5million to set up a research centre dedicated to the inventor of penicillin.
Imperial College London and Imperial College Healthcare NHS Trust will establish a ‘Fleming Centre’ to ‘inspire the next generation of world-changing innovations’.
The centre is named after Sir Alexander Fleming, a Scottish physician who in 1928 discovered penicillin, the world’s first antibiotic.
The Chancellor is keen to boost support for British life science firms and smaller businesses focused on research and development (R&D), and unveiled a tax break combining an existing R&D expenditure credit and schemes for small and medium-sized firms (SMEs) from April.
There will also be a tax cut for loss-making companies to 19 per cent, from 25 per cent, to ease financial pressure on R&D-driven firms, many of which spend years in the red while developing new technologies or medicines.
And there are plans to inject another £500million into ‘innovation centres’ to make the UK a ‘powerhouse’ in the development of AI.
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