The government-backed Technology Strategy Board will invest more than £5 million to support research and development of new regenerative medicine products, tools and technologies in the United Kingdom. Sixteen 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 related feasibility studies.
The funding 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.
“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,” says Iain Gray, Technology Strategy Board Chief Executive. ”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 that was launched in September 2009. For more information, go to the technology board website.