Cash available for projects accelerating medical research
The UK's innovation agency, the Technology Strategy Board, has announced that its Biomedical Catalyst will re-open for applications for early- and late-stage awards on 29 July.
The programme, launched as part of the Government's Strategy for UK Life Sciences in December 2011, has been a major success. To date the government-backed Technology Strategy Board (TSB) has funded more than 80 projects accelerating medical research and leveraging more than £55m in additional private funding.
Last week’s announcement of an extension to the initiative follows a successful campaign and confirmation at the Spending Review of additional £185m funding for the TSB.
Announcing the cash, University and Science Minister, David Willetts, said: “The increase in funding for the TSB recognises the essential work it is doing to support innovative businesses to commercialise their products and get them into the marketplace.
“Programmes such as the Biomedical Catalyst are keeping the UK at the front of the global race to commercialise new technologies, driving the growth agenda and playing an important role in our industrial strategy.”
Steve Bates, chief executive of the BioIndustry Association, welcomed the announcement, telling BBH: “I know many companies are waiting for the opportunity to make applications. I encourage companies to prepare their applications as I am certain there will be strong demand once again."
Geoff Davison, chief executive, of Bionow, a not-for-profit membership organisation for the biomedical and life-sciences industry in the North of England, added: “Given the announcement of another round of this critical funding source, Bionow is keen to encourage more applications by companies across the UK. We will be working with partners to ensure our members have every opportunity to apply for funding via this route."