CHANCELLOR OF THE EXCHEQUER JOINS J.P. MORGAN, CANARY WHARF GROUP AND KADANS SCIENCE PARTNER AT J.P. MORGAN HEALTHCARE INNOVATION SYMPOSIUM

CHANCELLOR OF THE EXCHEQUER JOINS J.P. MORGAN, CANARY WHARF GROUP AND KADANS SCIENCE PARTNER AT J.P. MORGAN HEALTHCARE INNOVATION SYMPOSIUM

23 June 2023: Together with Canary Wharf Group and Kadans Science Partner, J.P. Morgan hosted an exclusive EMEA Healthcare Innovation Symposium yesterday, which saw global industry leaders share their valuable insights on dealmaking, life sciences capital market activity and digital healthcare.

The event provided the opportunity for leading investors and both established and emerging disruptive companies across the European healthcare landscape to come together to hear from industry leaders. Amongst the speakers was Jeremy Hunt, Chancellor of the Exchequer, whose keynote reiterated government support for life sciences and technology and the industry’s importance to drive long term economic growth in the UK.

Chancellor of the Exchequer, Jeremy Hunt, said: “It’s a huge vote of confidence in the UK that J.P. Morgan, in partnership with Canary Wharf Group and Kadans Science Partner, picked London for its first large scale gathering of biotech experts and investors in Europe.

“Their faith in our country is well placed. The UK’s exemplary life sciences base meant we raised more capital in the sector than Germany, France and Canada combined.

“And our thriving life sciences sector is key to growing the British economy, creating better-paid jobs and spreading opportunity right across the country.”

Throughout the Symposium, digital health leaders discussed how to unlock data and AI to support healthcare systems, while industry investors looked at the current state of the capital markets, emphasising the importance of late-stage data for life science companies to attract investment. The importance of leveraging partnerships, as well as mergers and acquisitions to drive growth, was also debated by the industry leaders and attendees at the conference.

The event took place in J.P. Morgan’s office in Canary Wharf; a location which is fast becoming a hub for UK life sciences given it is already home to several leading healthcare and life sciences-focused companies, including Genomics England, Barts Health NHS Trust, UK Health Security Agency, Medicines and Healthcare Products Regulatory Agency, NHS Transformation and the recent opening of Kadans’ Innovation Centre at 20 Water Street.

Canary Wharf Group and Kadans Science Partner are also partnering to develop a world-leading health and life sciences cluster at Canary Wharf, which will be centred around the development of 1 North Quay (1NQ). 1NQ will provide 823,000 sq. ft across 23 storeys, and include a state-of-the-art laboratory, office and innovation space for some of the most exciting and fast-growing businesses in the health and life science sector.

At the Symposium Shobi Khan, Canary Wharf Group’s CEO, discussed how Canary Wharf has become a life science hub: “Through the Level39 incubator hub, we have attracted a number of life sciences tech start-ups including TC BioPharm, Neural Rays, L Base, Sanius Health and Congenica. Combined with our existing occupiers such as Genomics England, MHRA, NHS Transformation and the Kadans’ Innovation Centre at 20 Water Street, we have created a great nucleus from which to grow further.”

Sharing his thoughts on the emerging life science cluster at Canary Wharf, Vis Raghavan, CEO of EMEA at J.P. Morgan, said: “These are exciting times for the U.K.’s healthcare and life sciences industries and the new development in Canary Wharf presents a real opportunity for research and development to grow in London. Capital is available. New companies are being created. Innovation using AI and big data in particular is going to transform where this industry goes from here, so it is the perfect time for this kind of investment in the city.”

This month saw Kadans, the European leader investing in the development of ecosystems with a dedicated focus on the knowledge intensive sector, launch its Innovation Centre at Canary Wharf. The facility provides flexible access to fully fitted, best in class laboratories and collaborative space for early-stage science companies to gather, create and innovate and has been designed to allow flexibility for specific tenant requirements. 

Michel Leemhuis, CEO of Kadans Science Partner, commented: “We are looking forward to welcoming tenants at our 40,000 sq ft Innovation Centre over the coming weeks, which includes CL2 wet labs and office accommodation with fully flexible leases, and for those companies to join the growing life sciences activity on the estate. Hearing from panellists and attendees at yesterday’s Healthcare Innovation Symposium makes me excited about the potential of the all the scientific research ongoing in the UK and we are delighted to be part of the ecosystem that can help bring much of this research to life.”

Other panellists at the Symposium included Chris Wigley, Chief Executive Officer at Genomics England, Chris Hollowood, Chief Executive Officer of Syncona Ltd and David Redfern, President Corporate Development at GSK.