Welsh Secretary Jo Stevens has met key figures from the life sciences sector in the latest in series of round table meetings to drive economic growth.
Wales's Life Sciences industry is crucial to delivering sustained economic growth, Welsh Secretary Jo Stevens has told leaders from the industry.
The growing sector already contributes more than £2.6 billion to the Welsh economy each year and supports more than 12,000 jobs across more than 250 companies, according to Life Sciences Hub Wales.
Life Sciences encompasses a wide range of businesses which develop everything from healthcare products, such as pharmaceuticals or medical devices, to companies that use living organisms to solve challenges like making crops more resistant to climate change.
The Welsh Secretary's discussion with key decision-makers from several trail-blazing organisations took place on Thursday 16 January at Life Sciences Hub Wales in Cardiff and is the latest in a series of roundtable meetings chaired by Jo Stevens as part of her drive to deliver economic growth for Wales. Ms Stevens has already met leaders from the Digital and Tech industry, the Creative sector, and the Advanced Manufacturing sector in Wales.
At the end of 2024 the Welsh Secretary launched the Welsh Economic Growth Advisory Group to help shape UK Government efforts to boost growth and put more money in people's pockets.
The group is tasked with informing the UK Government's new Industrial Strategy to boost key Welsh industries and shape Welsh priorities for the next Spending Review, both expected during Spring 2025.
As well as understanding the importance of the Life Sciences sector to the Welsh economy the Welsh Secretary also learned about some of the cutting-edge work taking place in fields including cancer treatment and genomics.
She visited TrakCel in Cardiff to learn how they use software to facilitate the complex cell and gene therapy supply chains for the life changing treatment of diseases such as cancer and sickle cell.
At Cardiff Edge, a Life Science and Innovation cluster in Coryton, Ms Stevens saw world-class clinical and research laboratories at the Wales Genomic Health Centre. She heard from some of Wales's leading experts in genomics about how their work is increasing options for patients and improving their care.
Welsh Secretary Jo Stevens said:
"My clear focus is on delivering the UK Government's Plan for Change which will kickstart the economy and put more money in people's pockets in Wales.
"We have a growing and thriving Life Sciences sector in Wales, delivering a huge boost to our economy as well as contributing research and technologies with the potential to change people's lives.
"I am committed to ensuring that we do all we can to support our ground-breaking companies to continue to grow, create well-paid work and deliver results that make a real difference."
Cari-Anne Quinn, Chief Executive of Life Sciences Hub Wales said:
"Wales' Life Sciences sector is driving innovation, supporting a skilled workforce, and fostering strong collaborations that boost economic growth.
"Boasting world-class facilities and a supportive environment for innovation, Wales is the ideal place for global innovators to thrive.
"Through advanced research and technologies like AI diagnostics, businesses in Wales are creating high-quality jobs, improving healthcare outcomes and helping to transform lives while strengthening our economy."
David Fluck, Executive Medical, Life Science and Precision Medicine Director at Cardiff and Vale University Health Board said:
"We would like to thank the Secretary of State for her visit to the Canolfan Iechyd Genomig Cymru today.
"As part of a wider cluster of life science organisations based at Cardiff Edge, the work which takes place at this facility plays a crucial role in Wales strengthening their position in the field of precision medicine.
"Genomics presents groundbreaking opportunities for the health care industry, and we look forward to continuing our work alongside our partners to improve patient care and the wellbeing of the wider population."
