Funding news - 12/09/2017
IUK Launches Precision Medicine: Impacting through Innovative Technology Funding Competition
A £6 million fund to enable UK businesses and research and technology organisations to develop precision medicine technologies.
Precision medicine is one of the priority themes for Innovate UK’s health and life science sector. IUK has launched a competition to fund innovation projects that support the development of precision medicine technologies; defined as better targeting of treatments for patients by combining clinical knowledge with advances in diagnostic techniques and data analysis.
It is estimated that between 30% and 70% of patients respond positively to any one particular drug. Companies producing precision medicine technologies should 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.
This competition seeks solutions to these challenges. Applications can be for feasibility studies 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.
IUK has allocated up to £6 million to fund innovation projects in this competition. Feasibility projects can be up to £100,000 and last up to 12 months. They may be either single-company SME projects or collaborative projects led by an SME. Research and experimental development projects can range from £1 million to £2 million and last up to 24 months. They may be led by a business or research and technology organisation or undertaken as collaborative projects.
Applicants must explain clearly how their proposed technology will advance precision medicine. Applications that can provide evidence of engagement with regional precision medicine centres of expertise across the UK are particularly encouraged.
The deadline for applications is 25 October 2017.
See the IUK webpage for more details.
Source: Innovate UK, 11/09/2017