Confirming the launch of the Patent Box tax break for innovative technologies from April 2013, the UK government has made one of the most far reaching changes to corporate tax structure in recent times.
The full implications of the new UK corporate tax regime are still being unraveled, but within days of the announcement global pharmaceutical companies were announcing massive new investments into the UK, such as GSK’s £500M expansion of its Ulverston and Montrose manufacturing facilities.
But the introduction of the patent box will have far wider effects (perhaps not all of which have been fully appreciated by the government), and some of those benefits extend to smaller biotechs too. So what is this patent box, and how might it change your view of the UK as a location for starting a new biotech company?
RxCelerate Ltd is an outsourced drug development platform based near Cambridge, UK. We specialize in delivering an entire road map of drug development services from discovery and medicinal chemistry through to formal preclinical development and clinical up to Phase IIa. In the last five years, we have witnessed dramatic changes in the drug development …