BRIEF—UK's Biomedical Catalyst relaunched

Innovative biotech companies will be able to apply for access to a share of £30 million ($39 million) in grant funding through the UK’s relaunched Biomedical Catalyst.

The relaunch follows campaigning from the BioIndustry Association (BIA) for the funding competition, which is proven to leverage more than £4 of private investment for every £1 of public money invested.

Steve Bates, chief executive of BIA, said: “The Biomedical Catalyst has provided entrepreneurs and SMEs access to crucial capital to grow and scale, and its light bureaucracy approach means innovators can focus on business development, not red tape.

“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.”

The Biomedical Catalyst has been a leading campaign focus of the BIA for more than a decade and since its launch in 2012, has been used by many BIA member companies to build British life science companies.