£180 million government support programme for innovative life science businesses
5 December 2011
A three-year £180 million programme, to be managed jointly by the Medical Research Council and the Technology Strategy Board, will support some of the UK’s leading life science companies and academia, enabling them to move more quickly from discovery to commercialisation.
The new programme, announced today by the Prime Minister as part of a package of measures to drive growth in the UK’s life sciences sector, will see the Technology Strategy Board receive additional funding of £90 million, which will be aligned with existing Medical Research Council academic translational funding, providing a programme valued at £180 million.
The aim of the Biomedical Catalyst fund will be to deliver growth to the UK life sciences sector through supporting and driving the development of innovative life sciences products and services. Support will be available to both academically- and commercially-led research and development.
The fund will provide seamless support, from initial research in universities through to commercial development in small- and medium-sized companies, from incubating innovations in academia to supporting and accelerating companies’ innovative product and process developments.
Iain Gray, Chief Executive of the Technology Strategy Board, said:
“This joint programme will leverage the strength of the science base for business by encouraging greater collaboration. We will work in partnership with the Medical Research Council, focussing on areas such as regenerative medicine, stratified healthcare and emerging medical technologies.”
Sir John Savill, chief executive of the Medical Research Council (MRC) said:
“The MRC welcomes this additional support and we look forward to working with the Technology Strategy Board to promote productive partnerships between MRC-funded scientists and high technology companies, especially small and medium enterprises (SMEs). In particular, the MRC are keen to help SMEs to engage more with clinical proof of concept studies, where partnerships with academic research groups and patient participation are vital.”
The number of organisations involved in the life sciences sector in the UK is increasing and the emerging “open innovation” model of research and development results in companies engaging with the wider research environment. While this encourages creativity and innovation, it also means it is now more important than ever to ensure that public investment is maximised and supports the most promising developments, for both patient benefit and commercial success.
The Biomedical Catalyst fund will link to existing Medical Research Council translational programmes and Technology Strategy Board activities, providing a seamless set of support and funding options. The programme will provide staged investment, while also allowing applications that are already partly developed to enter the “pathway” at any suitable stage. It will provide a well publicised, simple funding scheme, with rigorous scientific, clinical and commercial tests, that gives credibility and visibility to help companies to move more quickly to commercial success, revenues and sustainability.
The Medical Research Council and the Technology Strategy Board will work closely with key stakeholders to develop the most efficient and effective solutions to deliver the new programme of support.
Ends
Notes to Editors:
1. For almost 100 years the Medical Research Council has improved the health of people in the UK and around the world by supporting the highest quality science. The MRC invests in world-class scientists. It has produced 29 Nobel Prize winners and sustains a flourishing environment for internationally recognised research. The MRC focuses on making an impact and provides the financial muscle and scientific expertise behind medical breakthroughs, including one of the first antibiotics penicillin, the structure of DNA and the lethal link between smoking and cancer. Today MRC funded scientists tackle research into the major health challenges of the 21st century. www.mrc.ac.uk
2. The Technology Strategy Board is a business-led government body which works to create economic growth by ensuring that the UK is a global leader in innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit: Technology Strategy Board website.
3. The MRC have developed new translational programmes over the last four years, to complement excellent lab and clinical discovery research. The MRC funding will be for researchers in the academic sector.
4. The vision of the Technology Strategy Board is for the UK to be a global leader in innovation and a magnet for innovative businesses, where technology is applied rapidly, effectively and sustainably to create wealth and enhance quality of life. Our approach to accelerating the pace of innovation in the UK is captured in our strategy document, Concept to Commercialisation, published in May 2011. This builds on our first strategy, developed in 2008, and sets out new directions, taking into account the challenges and exciting opportunities that lie ahead. To see the new strategy please visit: Concept to Commercialisation.
5. The Technology Strategy Board’s _connect platform provides an effective and powerful way to collaborate online, network and share knowledge with other innovators. It provides a place to work together securely and share information & knowledge. Users can utilise the online tools to work collaboratively, discuss ideas and find events. The networks offer up-to-the minute news on funding, events, articles and publications, plus information about all 16 Knowledge Transfer Networks. Through the networks, users can find potential business partners, entrepreneurs, collaborators, other innovators, researchers and academics.
6. The Bioimedical Catalyst fund will be overseen by a joint steering group, to be made up of senior translational experts from academic, NHS, industry and investment backgrounds, and Director-level representatives from the MRC and Technology Strategy Board. Specific programmes will be overseen by funding, award, assessment and monitoring panels composed of highly experienced translational scientists from academia and industry, life sciences entrepreneurs, venture capitalists and technology transfer experts.
