The UK government has announced that the Medicines and Healthcare products Regulatory Agency (MHRA) will receive £10 million to accelerate the approval process for innovative new medicines and medical technologies.
The funding will be used to establish a thorough but shortened process to speed up the approval of innovative medical products, both those developed in the UK and those approved by trusted regulatory partners globally.
The funding will also support the establishment of an international recognition framework, allowing the MHRA to capitalize on the expertise and decision-making of trusted regulatory partners and provide patients with fast-track access to best-in-class medical products that have been approved in other countries.
The MHRA will still be responsible for the approval of all ‘recognition route’ applications, ensuring that all products are of sufficient quality to be licensed in the UK and that a robust process promoting patient safety and access to improve the health of the UK population is in place.
Using the Agency’s pre-existing international partnerships, the first regulatory partners MHRA intends to build new recognition routes with are the FDA in the USA and the PMDA in Japan.
Dr June Raine, MHRA Chief Executive, welcomed the £10 million funding, which will be used to fund the ongoing innovation work and to accelerate the development of global recognition routes.
This will give UK patients faster access to the most cutting-edge medical products in the world. Steve Barclay, Secretary of State for Health and Social Care, said that this new funding will accelerate the delivery of cutting-edge treatments like cancer vaccines and new artificial intelligence technology that will make therapy more accessible to those who suffer from mental health conditions.
The MHRA is a global leader in regulatory innovation, and the funding will support its efforts to continually build new, international partnerships to ensure that innovative treatments reach patients as quickly as possible.
The Agency has made significant scientific progress through highly successful, internationally collaborative schemes such as the Access Consortium and Project Orbis, from which there have been eight approvals for new cancer medicines.
»UK’s MHRA Receives £10 Million to Accelerate Approval Process for Innovative Medicines«
↯↯↯Read More On The Topic On TDPel Media ↯↯↯