D5 Capital advises Bill Morgan on Newmarket appointment

UK health and life sciences consultancy, Newmarket Strategy, has added two outstanding leaders to its top team. Professor Peter Clark and Bill Morgan join immediately, having held influential roles at NHS England and No10 Downing St respectively.

D5 Capital advised Bill Morgan on his equity participation at Newmarket Strategy, having advised Incisive Health (where Bill Morgan was Co-Founder) on its sale in May 2019 to UDG Healthcare plc.

Bill Morgan, joining as a Senior Partner, is one of the UK’s outstanding health policy experts. He has advised Prime Ministers, health ministers, policymakers and the world’s leading life sciences businesses in a career in health policy spanning more than two decades. He jointly founded and led life sciences consultancy, Incisive Health, until its successful aquisition, before returning to government as 10 Downing Street’s Special Adviser for Health, Social Care and Life Sciences. Bill is also a Lecturer in Health Policy at Imperial College, London, a Visiting Professor at the University of Greater Manchester, and a member of the Advisory Council of The Social Care Foundation.

Newmarket’s new Chief Clinical Adviser, Prof Clark, is one of the most influential figures in UK Oncology. A former Trust Medical Director, his national roles have included Chair of the Chemotherapy Clinical Reference Group for the NHS in England (2013-2019), and National Clinical Lead for the Cancer Drugs Fund (2013-2025). 

This latter role was focussed on working with NHS England, NICE, pharmaceutical companies, clinicians and patients to maximise and accelerate access in the NHS to cancer drugs which are both clinically and cost effective. He will add to Newmarket’s significant advisory capabilities, serving its extensive client based in pharmaceuticals and life sciences.


Newmarket Strategy was founded in 2021 by former Health Minister, Lord O’Shaughnessy, former government adviser, Ed Jones, and pharma industry expert Berkeley Greenwood. The business was joined in 2023 by former NHS England Commercial Medicines Director and Interim Chief Commercial Officer, Blake Dark. Its Senior Associates include former NHS Chief Operating Officer, Sir David Sloman, and former Chief Pharmaceutical Officer for England, Dr Keith Ridge.

Newmarket Strategy’s Chief Executive Officer, Ed Jones, said:

"I am thrilled to welcome Peter and Bill to our senior team. Peter has made a huge contributions to cancer care and research, as well as supporting access to life saving treatments for NHS patients, while Bill is an outstanding policy thinker, adviser and entrepreneur. Their arrivals will further enhance our mission to support the best healthcare innovations to reach the patients and clinicians who depend on them. 

As restated in the government’s Ten Year Plan for the NHS, effective collaboration between the health system and industry partners will be critical to the reform and transformation of services. Our valued clients and colleagues will learn a huge amount from these two exceptional individuals."

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