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The Biomedical Catalyst has been relaunched, meaning that innovative biotech companies will have the opportunity to access a share of £30 million (US$38 million) in grant funding.
Announced in a June 11, 2020 press release, the Biomedical Catalyst has been relaunched, meaning that innovative biotech companies will have the opportunity to access a share of £30 million (US$38 million) in grant funding.
The relaunch was confirmed by Ian Campbell, CEO of Innovate UK-the United Kingdom’s innovation agency-during a webinar for the UK BioIndustry Association (BIA). The BIA reported in the press release that it has been campaigning for the Biomedical Catalyst consistently for over a decade with many of its members using the funding to build successful companies.
“The Biomedical Catalyst has provided entrepreneurs and SMEs [small-to-medium enterprises] access to crucial capital to grow and scale, and its light bureaucracy approach means innovators can focus on business development, not red tape,” said Steve Bates OBE, chief executive of BIA. “COVID-19 has thrown the importance of a vibrant and strong UK life-sciences sector into sharp focus. The Biomedical Catalyst is a key part of the government’s efforts to ensure the UK is resilient to future threats to public health, as well as supporting the development of new life-changing medical treatments, diagnostics, and devices, and building an innovation-led economy for our future prosperity.”