Member Article

£180m for SMEs addressing healthcare challenges

£180m of funding is available for innovative SMEs and academics to develop solutions to healthcare challenges.

The Biomedical Catalyst is a key element of the Strategy for Life Sciences launched by the Prime Minister in December last year.

Open from the end of April, it will accept promising ideas from sectors or disciplines that demonstrate the potential to provide significant positive healthcare and economic impact.

It will support the development of innovative technologies emerging from partnerships between clinicians, academics and industry.

David Cameron said: “The UK boasts a world-leading life sciences sector which is changing at an incredible pace. And I’m absolutely committed to helping it widen its significant foothold in the global market.

Announcing the opening of the fund at life sciences roundtable event in Japan, Minister for Universities and Science David Willetts, said: “We have a world-leading life sciences industry in the UK that is changing fast.

“The Government is absolutely committed to ensuring its future success and one of the key challenges is tackling the so-called ‘valley of death’.

“This exists between the moment that a bright new idea is developed in the laboratory and the point when a new drug or technology can be invested in by the market.

“The £180 million Biomedical Catalyst programme will bridge this funding gap and support innovative businesses and our research base, bringing benefits for patients and the economy.”

Sir John Savill, Chief Executive of the Medical Research Council added: “The Biomedical Catalyst will give SMEs greater access to leading academic researchers and patient groups.

“The MRC is particularly keen to help SMEs engage with clinical proof of concept studies, where partnerships with academic research groups and patient participation are vital.

“It will also build on the significant investment we have made in our existing translational research initiatives to help us deliver the health impacts of fundamental research to people more quickly.”

Three categories of grant awards will be available through the Biomedical Catalyst scheme including feasibility, early stage and late stage.

Individual grants to businesses will range from a maximum of £150,000 for feasibility awards to £3m for early and late stage awards.

The programme will seek to support those opportunities which demonstrate the highest scientific and commercial potential, irrespective of medical area.

Iain Gray, Chief Executive of the Technology Strategy Board, said: “This exciting scheme is a major part of the UK’s Strategy for Life Sciences and it aims to help the next generation of brilliant British medical breakthroughs become the next generation of great British companies.

“It will provide seamless support, from concept to commercialisation, from initial research in universities through to commercial development, from incubation of innovation through to product development.”

This was posted in Bdaily's Members' News section by Tom Keighley .