UK biotechs benefit from £100 million in Biomedical Catalyst funding

UK biotech companies are leading the way to develop new therapies for cancer, Parkinson’s, diabetes and tinnitus, with investment from the Biomedical Catalyst, according to the BioIndustry Association (BIA).

Biotech companies Autifony Therapeutics, Biosceptre UK, C4X Discovery, Mission Therapeutics and Oxford BioMedica are amongst the 33 UK companies who have received business-led awards under the Biomedical Catalyst. Significant sums have been invested in the sector through the scheme, including almost £100 million ($170 million) in business-led research by the Technology Strategy Board and approximately £70 million in academic-led research by the Medical Research Council. It has already leveraged a further £97 million of private finance into the UK life sciences sector, with more to come.