British companies to receive support to develop new regenerative medicine products and technologies

28 Jul 2010

The government-backed Technology Strategy Board is to invest over £5 million to support the research and development in the UK of new regenerative medicine products, tools and technologies.

16 research and development projects in the field of regenerative medicine therapeutics are to receive a total of £3.6 million of investment, while a further £1.6 million is to be invested in 12 feasibility studies in the area of regenerative medicine tools and technologies.

The funding for therapeutics research will enable the companies involved to accelerate product development to take advantage of future market opportunities. Meanwhile, the funding for the feasibility studies will enable companies to explore opportunities to develop platform tools and technologies to overcome key product development challenges including safety/efficacy testing and manufacturing.

Iain Gray, the Technology Strategy Board's Chief Executive, said:

"Regenerative medicine has already provided significant medical advances, in areas such as skin regeneration for burns patients, and it has the potential to offer cures and treatments with long-term benefits. The UK is a world leader in this area, with a strong science base. For us to fulfil our potential in this field, a number of development challenges need to be overcome, so that British businesses - and the wider economy - can benefit from the successful commercial exploitation of promising discoveries."

The investment is part of a £21.5m programme of competitions, managed by the Technology Strategy Board, in the area of regenerative medicine. Launched in September 2009, the programme is supported by the Medical Research Council (MRC), the Biotechnology and Biological Sciences Research Council (BBSRC) and the Engineering and Physical Sciences Research Council (EPSRC). In January 2010 the Board announced its first investments through the programme, with 31 feasibility studies receiving £2.8m of funding while three major collaborative research and development projects received a further £2.3m. Ends

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

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

 

 

Last updated on Friday 30 July 2010 at 12:29

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