The UK Government has announced the launch of the new Regulatory Innovation Office (RIO) which is aimed at reducing regulatory burden and speeding up public access to new products and innovations.
An initiative detailed in Labour's pre-election life sciences strategy (the Strategy) - for further details of which see our recent blog post, the RIO is intended to create a more coherent approach to regulation across government and will work with regulators, such as the MHRA, to update regulation, drive innovation and accelerate approval timelines.
As indicated in the Strategy - and in positive news for the UK life sciences sector - the announcement confirms that the RIO will initially support growth in four areas of technology which will include AI and digital in healthcare as well as engineering biology.
Further details as to how the RIO will operate are expected in the coming months, with the announcement confirming that a chair to lead the office is being sought. However, innovators in the sector will welcome these signs that life sciences are being prioritised by the new Government, as well the prospect of smoother and faster regulatory approval processes.
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