Regenerative medicine research and development to receive £4.5 million funding injection

15 Jan 2010

Over 40 British companies are to receive more than £4.5 million from the Technology Strategy Board to support research and development into regenerative medicines.

The first part of a major £21.5 million research and development investment programme in regenerative medicines, support will be provided for 30 commercial feasibility projects in the area of regenerative medicine therapies. In addition two large-scale R&D projects, in value systems and business models, will involve a further 16 British companies, research organisations and academic institutions.

Explaining the reason for the investment in feasibility studies, Zahid Latif, the Technology Strategy Board's Lead Technologist in Medicines and Healthcare, said:

"The intention is to establish projects and collaborations that will participate in larger initiatives that we will run in 2010 and beyond. All the projects are business-focussed and should be completed in less than six months."

"The challenge we have set the companies is to explore the feasibility of developing previously-identified therapeutic candidates, that can replace or regenerate human cells, tissues or organs, into regenerative medicine products."

While the 30 feasibility studies will share funding of £2.8 million, the two major collaborative research and development projects will see investment by the Technology Strategy Board totalling £1.7 million. The projects will explore where and how value is created in the regenerative medicine value chain, informing the development of business models to enable businesses to best capture that value, for themselves and the UK economy as a whole.

Future plans for the Regenerative Medicine Programme include the launch of competitions in the first half of 2010 in 'regenerative medicine therapeutics' and 'tools and technologies'. The total investment will be around £17m, with funding from the Technology Strategy Board, Engineering and Physical Sciences Research Council (EPSRC), Biotechnology and Biological Sciences Research Council (BBSRC) and the Medical Research Council (MRC). Ends

Companies and other organisations seeking further information about this and other funding competitions should visit the Competitions page of the Technology Strategy Board website - www.innovateuk.org, email support@innovateuk.org or phone the helpline on 0300 321 4357.

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

Additional contact
Claire Cunningham, Media Relations Manager
Technology Strategy Board
Tel: 01793 442901
Mobile: 07554 115745
Email: claire.cunningham@tsb.gov.uk

For full press release including notes to editors please follow this link

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Last updated on Tuesday 13 July 2010 at 14:57

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