2 August 2012 -- The BioIndustry Association welcomes today's announcement by the Medical Research Council and the Technology Strategy Board that the first awards have been made through the Biomedical Catalyst.
Steve Bates, BIA Chief Executive Officer, said:
"UK biotech companies will now be able to rapidly progress early stage projects thanks to the first Biomedical Catalyst feasibility awards. It is great to see this important source of government funding practically and speedily delivering for companies in our sector.
"These awards demonstrate the UK government's commitment to early stage life science companies. We look forward to further awards being announced later in the year. With luck some of the next generation of UK biotech companies will be born as a result of the Confidence in Concept awards also announced today."
Glyn Edwards CEO of Summit Corporation plc, a UK biotech company awarded one of the first feasibility grants in the Biomedical catalyst scheme said:
"We are delighted to have received this support. This type of funding is really important for life sciences companies especially for early stage programmes. The process was simple and quick which makes a real difference to us."
For further information, please contact Robert Winder, Head of Communications, email@example.com, 020 7630 2191; mobile 07825 942 934.
Announced by the Prime Minister as part of the Strategy for UK Life Sciences, the Biomedical Catalyst is a £180 million government scheme designed specifically to support the translation of basic research to proof of concept/commercialisation stage. http://www.innovateuk.org/content/competition/biomedical-catalyst.ashx
Founded over 20 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative enterprises involved in UK bioscience. Members include emerging and more established bioscience companies; pharmaceutical companies; academic, research and philanthropic organisations; and service providers to the bioscience sector. The BIA represents the interests of its members to a broad section of stakeholders, from government and regulators to patient groups and the media. Our goal is to secure the UK's position as a global hub and as the best location for innovative research and commercialisation, enabling our world-leading research base to deliver healthcare solutions that can truly make a difference to people's lives. For further information, please go to www.bioindustry.org