Up to £6m funding for precision medicine technologies
Posted on 13/09/2017
Even the best medicines are not equally effective in all patients. Disease processes and treatment choices can vary from person to person, regardless of whether they have similar symptoms. It is estimated that only 30% to 70% of patients respond positively to any one particular drug.
Precision medicine is one of the priority themes for Innovate UK’s health and life science sector. It is important that companies producing precision medicine technologies avoid focusing too much on technology and not enough on end user needs. This issue can be exacerbated by companies not having the time or resources to explore these issues at an early stage.
In response to this challenge, Innovate UK will invest up to £6 million in innovation projects to support the development of precision medicine technologies.
Precision medicine is here defined as: better targeting of treatments for patients by combining clinical knowledge with advances in diagnostic techniques and data analysis.
The competition entitled “Precision medicine: impacting through innovative technology “ aims for applications to focus either on:
• Feasibility to help companies assess the research, development and adoption issues their concept will need to address and the likelihood of success or
• Research and development to help companies develop and trial precision medicine technology
A briefing event will take place in London on Wednesday 20th September, which will provide information on the competition programme, scope, background and application process – including the new Innovations Funding Scheme (IFS).