Earlier this week the House of Lords' ScienceandTechnologyCommitteepublished a report in which it said that the UK is "currently underprepared to realise the full potential of regenerative medicine".

Among the criticisms the Committee raised was with the regulatory regime that applies in the UK to regenerative medicines and with the level of Government funding to help the industry grow.

Life sciences transactions lawyer Allistair Booth of Pinsent Masons, the law firm behind Out-Law.com, said that the Government had demonstrated its commitment to the growth of regenerative medicines research in the UK.

"Regenerative medicines is one of the next big areas for medical research," Booth said. "The Government has put together centres of excellence around cutting edge technology with the idea of combining research and catapulting it forward. The Cell Therapy Catapult is one of the centres set to benefit from the Chancellor's decision to ring fence 185 million for scientific research in his recent Spending Review."

"Through, for example, the Cell Therapy Catapult and the government funding of that Catapult, small regenerative medicine research companies can get access to equipment, expertise and the other resources that would most likely otherwise be beyond their reach," he said. "The reality is that, while a number of early stage venture funds have been created in the last few years and that is a very welcome development there is still a shortage of early stage investment capital to assist these companies to take forward such cutting edge innovation."

"Through its investment in the various Catapults and the BioMedical Catalyst fund the UK Government is providing vital, meaningful and very welcome support to innovative life sciences companies to move forward their research to the point where it can attract further investment or partnering opportunities," said Booth.

In its report, the ScienceandTechnologyCommitteesaid it was concerned that the Cell Therapy Catapult was "seeking to achieve too much, too quickly, given the level of funding" available to it. The Cell Therapy Catapult, set up in 2012, had an initial budget of approximately 70m to be spread over five years, but the Committee said that it should prioritise "developing investable propositions and building connections" before sharing its expertise.

The Committee also said that "innovative funding models" should be explored to help support the development of regenerative medicines research. It said the models would likely rely on the Government matching funds pledged or providing a form of guarantee to investments and that the Government should "put their money where their mouth is".

The Committee also called for action to help reduce regulatory barriers to the development of the regenerative medicines research in the UK. It said that the Health Research Authority (HRA) must "simplify the regulatory route so that the development of regenerative medicine, and other innovative therapies, is not hindered". A new independent advisory group should be set up to assist the HRA in helping "focus and clarify the functions of regulators".

Life sciences expert Louise Fullwood of Pinsent Masons said she agreed with the Committee's view that the existing regulatory framework was 'labyrinthine'.

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Streamlined regulation would be welcome but Government clearly supports regenerative medicines research, say experts

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