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BIVDA meet with Baroness Finlay to discuss IVD regulations and supporting the diagnostics industry

By March 13, 2024No Comments

Last Friday, BIVDA met with Baroness Finlay of Llandaff to discuss IVD regulations and supporting the diagnostics industry.

Baroness Finlay is a crossbench peer with a vast scientific and medical pedigree. She is a past president of the Royal Society of Medicine and is currently a professor of palliative medicine at Cardiff University School of Medicine.

This meeting followed her comments to Health Minister Lord Markham around disincentives for UK innovation and investment.

In the meeting, it was agreed that the current UK regulatory regime for IVDs is too complex and requires change and, alongside difficult procurement rules, are stifling innovation and driving companies abroad.

A less risk-averse model would be preferable, alongside the agile approach that was fostered during the pandemic, to assist UK life science innovators. Layers of bureaucracy between innovators and government are smothering the potential for success.

It was noted that devolved administrations had often been overlooked in favour of England, and more work was needed to ensure all parts of the UK benefitted from innovation support.

Baroness Finlay agreed to collaborate with BIVDA on a roundtable event for the purposes of decreasing waste, improving cost efficiency, and driving inward investment in Wales via medical diagnostics companies.

We look forward to pursuing these next steps and will keep members informed of any updates.

Dawn