Steve Bates, Chief Executive of the BioIndustry Association, the UK trade association for innovative bioscience companies, explains why he’s impressed with the MRC/TSB Biomedical Catalyst, from its straightforward application process to the encouraging signs already seen from investors.
The announcement this month of almost £40 million research funding under the first full round of the Biomedical Catalyst, which aims to accelerate research through the ‘valley of death’ and deliver new therapies to patients, is a welcome boost to the UK bioscience sector.
Of that figure, the Technology Strategy Board (TSB) awarded almost £30 million to 22 business-led projects aiming to develop products and technologies in areas where there is unmet medical need.
By backing companies in this way, the Government is demonstrating its commitment to the bioscience sector and helping to attract additional private finance for medical research. Now that the awards have been made, with MRC money going to academic-led projects and TSB money to industry, there is an opportunity to take stock, examine how the process has worked and look ahead to the future awards. Read more