£1.5m investment aims to give the UK’s emerging Regenerative Medicine sector a business boost

26 Aug 2009

£1.5m investment aims to give the UK's emerging Regenerative Medicine sector a business boost

UK regenerative medicine companies are being offered the opportunity to compete for an investment package designed to enable them to boost their productivity. The government-backed Technology Strategy Board has launched a £1.5m collaborative R&D competition call, setting businesses the challenge of developing a better understanding of the best ways to make a profit from regenerative medicine.

Zahid Latif, Lead Technologist in Medicines and Healthcare for the Technology Strategy Board said:

"Regenerative medicine companies operate in an emerging business sector, in an international environment where delivery of regenerative medicine could take on a number of different guises as the products and services are developed.  The number of UK companies working in this field has been growing since 2003 and we are a world leader in this area, with a strong academic science base and a supportive clinical and regulatory environment."

"There has been much recent progress but if the UK is to fulfil its potential in this field, there are a number of development challenges which need to be overcome to successfully commercialise promising discoveries," he added.

The competition is designed to encourage businesses to explore where and how value is created in the regenerative medicine value chain and develop business models to enable them to best capture that value, for themselves and the UK economy as a whole.

Regenerative medicine has already provided significant medical advances in areas such as skin regeneration for burns patients, and has the potential to go much further with next-generation products offering treatments with long term benefits or cures.

The £1.5m is part of a wider £18m Regenerative Medicine investment package from the Technology Strategy Board and is being launched alongside a separate £3m feasibility call. Ends

Main press contact:Nick Sheppard, Media Relations Consultant Technology Strategy Board
Mobile: 07824 599644 Email : nick.sheppard@tsb.gov.uk

Additional contact:Paul Whittemore, Head of Communications, Technology Strategy Board
Phone : 01793 44 2769 Mobile : 07824 599632 Email : Paul.Whittemore@tsb.gov.uk

For full press release including notes to editors follow this link - £1.5m investment aims to give the UK's emerging Regenerative Medicine sector a business boost

 

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Last updated on Thursday 27 August 2009 at 14:09

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