Accelerating innovation in precision medicine
Posted on 10/07/2018
Precision medicine can be defined as ‘technology that enables early and accurate diagnosis to inform patient treatment, as well as the availability of targeted therapies’. This includes combining clinical biomarker knowledge with advances in diagnostic technologies, data analysis and tailor-made therapeutics. Precision medicine is also commonly referred to as stratified medicine or personalised medicine.
Innovate UK is inviting UK businesses to apply for a share of up to £6 million of grant funding to match private equity investment and fund innovations in precision medicine.
Investment Accelerator: Innovation in Precision Medicine
The Investment Accelerator: Innovation in Precision Medicine funding competition will provide simultaneous grant funding and private investment for early stage projects led by UK companies.
Up to £6 million of grant funding and a comparable amount of private equity investment is available to support business-led innovation in precision medicine technologies. Proposals must offer a disruptive change to the way that we accurately diagnose, monitor and treat disease.
The competition is open to single SMEs who are looking for grant funding and who want to establish an equity relationship with a UK venture capital firm.
Innovate UK are particularly encouraging new deal flow from the investor partners. SMEs who already have investment from one or more of the investors are also eligible. Preference may be given to first time investments in the event of a large number of high quality applications.
The competition opens on 23rd July 2018, and closes on 26th September 2018 at 12:00.
For further information please visit the Innovate UK competition page.
Competition Briefing Event, 31st July, London or Webcast
The Knowledge Transfer Network (KTN), on behalf of Innovate UK, is hosting a briefing event to present this competition to the SME community. The event will be held on 31st May 2018 (13:00-1700) at the Hallam Centre, London and will also be streamed live on the new KTN YouTube Channel.
The competition briefing will provide potential applicants with the opportunity to learn more about the scope of the competition and the application process. The 13 private investors that have been selected to co-fund this competition will attend the event and delegates from the industries will be given the opportunity to network with them as well as with the other attendees.