Developed in collaboration with the National Institute for Health and Care Research, the guidance aims to deliver on the Life Sciences Sector Plan by: accelerating patient access to new medicines and medical technologies; enabling world-class research and development; and supporting the commercialisation of ideas both domestically and internationally.

Health innovation and safety minister, Dr Zubir Ahmed, said: ‘For too long, innovators have faced unnecessary barriers when trying to bring life-changing ideas to patients through the NHS. This updated guidance removes the red tape and provides the clarity needed to accelerate innovation across our health service.

‘By getting the fundamentals right, we can drive transformation, commercialise ideas both domestically and internationally, and strengthen the UK's position as a global leader in health and life sciences research and innovation.

‘Most importantly, it will ensure that the benefits of innovation - from improved patient care and more efficient services to fair commercial returns - flow directly back to patients, staff and the NHS, strengthening its role.'

The Government said the new guidance ensured the NHS was fairly rewarded for the innovations it helps create - with any returns reinvested straight back into patient care and future innovation.