Newcastle University gets share of Â£150m fund
Newcastle University has secured a share of a £150m government investment in the UK's clinical research infrastructure.
A total of 23 projects will benefit from the capital injection across the UK. Newcastle University will receive a £1.7m share.
The Treasury has worked in partnership with the Department of Business, Innovation & Skills (BIS) to allocate the funding to the Medical Research Council’s (MRC) Clinical Research Capital Initiative.
It follows the £80m also pledged to the initiative by the MRC, universities, charities and devolved authorities, bringing the total amount of finance available to £230m.
"The UK is already a world leader in science and research, which is why at the Budget, I protected science spending," said Osborne.
"Today we go a step further by announcing £150m of new investment in clinical research infrastructure. The funding will go to 23 truly innovative projects from across the UK today that represent the best of British ingenuity and scientific exploration.
"The government, charities, universities and industry will be working together to advance our knowledge in combatting the biggest medical challenges of our time."
Life sciences minister George Freeman added: "We want to make the UK the best place in the world for life sciences.
"Building on our existing research infrastructure this investment will speed up the innovation of experimental medicine, strengthen partnerships with industry and charities and boost our economic growth in this exciting sector."