Awards Support UK Businesses in Meeting Healthcare Challenges

BIA member companies are amongst innovative British SME’s awarded funding through the Biomedical Catalyst 2016 scheme to tackle key healthcare issues.

Launched in July last year by former Business Secretary, Sajid Javid, the Biomedical Catalyst 2016 saw over £26 million of funding awarded across 66 projects by Innovate UK, the Medical Research Council and Scottish Enterprise.

Steve Bates, BIA CEO, commented: “UK life science company innovation is key to tackling healthcare challenges we all face. I’m delighted to see so many of our members receive funding as part of this latest competition. The consistent campaigning of the BIA and our members has ensured that this key source of early-stage funding will continue to support the development of new life-changing medical treatments, diagnostics and devices and underpin economic growth for the future.

“The bioscience sector requires a sustained funding ladder where promising innovations and companies have the most optimal environment from start up to liquidity. The Biomedical Catalyst scheme has proved to be an integral rung on that ladder – crowding in additional private sector investment, allowing the UK to lead the way in tackling global health challenges such as dementia, type one diabetes and antimicrobial resistance.

“It’s pleasing to see the participation of Scottish Enterprise in this UK scheme for the first time – I believe there is opportunity for other devolved nations and regions to look on this as a model to develop investment in their own local SME healthcare ecosystems going forward.”