Following Saturday’s announcement of Round 8 Biomedical Catalyst winners – in what was the last round of the current Biomedical Catalyst (BMC) funding allocation – today we published a new report which provides a retrospective of the current scheme. The report features ten case studies from companies who have been recipients of BMC funding.
To date the BMC scheme has awarded over £250 million to accelerate medical research. Over 180 business-led projects have been supported with funds worth over £130 million and with a total project value of over £240 million. This means that over £100m of additional private capital, in the form of matched funding, has been leveraged as a condition of the Biomedical Catalyst awards. Furthermore, beyond the Biomedical Catalyst awards, post-award funded companies and academics have realised in excess of a further billion pounds in the form of additional private finance, grant funding, via licencing or acquisition.
The Biomedical Catalyst fills a crucial structural gap in the UK investment pathway, early in company development where private sector investors will not venture alone. If this is removed or diluted, already invested SMEs will fall again into the funding valley of death and the whole life sciences ecosystem, and UK economic growth will suffer. As we head towards this year’s Spending Review our message is clear: the Biomedical Catalyst must be continued.
Many congratulations to all BIA members who received funding from Round 8, including Crescendo Biologics, Critical Pharmaceuticals, Domainex, Eva Diagnostics, MISSION Therapeutics and Peptinnovate.
The report is available to download here, complete with updated infographics (pictured above).
Also published recently, the seventh MHRA Innovation Office case study features BIA member, the Cell Therapy Catapult. The advent of induced pluripotent stem cells (iPS) sees medicine go beyond its traditional boundaries. But de-risking therapies like iPS so that their full potential can benefit public health, means overcoming many challenges. The case study showcases how MHRA’s advice and guidance helped the Cell Therapy Catapult to overcome these challenges, meet the regulatory requirements facing the development of a stem cell bank for iPS and undertake clinical trials currently taking place in Japan. You can read it in full here.
In other news, the Academy of Medical Sciences have launched a call for evidence to gather external input into their project on ‘How does society use evidence to judge the risks and benefits of medicines?’. The deadline for submission is 21 September. See their website for further details.
Finally, a reminder that we’re currently seeking nominations to the BIA Board. More information here, and please do pass on to any colleagues who may be interested.
As I head off on holiday, Newscast will be taking a break next week – back on 24 August.