£1m boost for health science SMEs creates 50 jobs

UP to £1m of funding through Greater Manchester Academic Health Science Network for SMEs has led to the creation of 50 jobs.

Nine companies in Greater Manchester have been awarded a share of the money from the Corridor Growth Fund.

One beneficiary is eLucid mHealth Ltd, a pioneer in the development of disruptive software technology which has the capacity to deliver improved patient care within the healthcare system.

To date it has received grants from both the Corridor Growth Fund and the GM ASHN via a Technology Innovation Challenge call.

Chief executive Graham Howieson said: “These awards demonstrate a level of commitment to fresh ideas and innovative solutions and, as a result, we are delighted to be involved. Furthermore we look forward to building upon our relationships to create a lasting legacy.”

One of Greater Manchester Academic Health Science Network’s objectives is to support SMEs to work with the NHS and create wealth for the local area through developing their businesses further.

GM AHSN has offered a range of support to the SMEs including providing advice on NHS procurement and how to develop business plans, facilitating access to the NHS for research and tests, and making a series of ‘Technology Innovation Challenge’ awards which provide funds for academic, clinical and SME consortia  to develop solutions to current unmet clinical needs.

Another SME which received funding is Intelligence Development Ltd (ID).

Chief executive Stephen Bookbinder said: “ID is a specialist research and development technology company, dedicated to the development of medical solutions for health management.

“We have recently been awarded £37,000 from The Manchester Corridor Growth Fund to further the development of innovative real-time monitoring and delivery devices, together with new clinically functional nutritional solutions.”

In another significant development, Congenica has been working in partnership with Manchester Centre for Genomic Medicine (MCGM) to develop analytical tools that will look at the whole of a person’s genome and identify errors that may cause disease. As not all gene mutations are associated with illness and disabilities so the knowledge of the consultants is vital in identifying gene-disease relationships.

As part of its collaboration with the MCGM and with funding from the Corridor Growth Fund, Congenica has established business operations at the MedTECH Centre close the hospital.

Congenica chief operating officer Nick Lench said the funding from the Corridor Growth Fund has had a major positive impact on the company’s development: “The Corridor Growth Fund has made it possible for us to employ two extra researchers to work with Professor Black and the MCGM team. This will allow us to translate exciting findings from our joint research into a robust diagnostic test suitable for use with patients.”

Executive director for industry and wealth at GM AHSN Keith Chantler said: “One of our key roles at GM AHSN is to boost the economy through supporting companies in developing innovative products for the NHS and helping them to access the support they need to progress these. By helping companies in this way, we are creating really positive outcomes for patients through new and innovative technologies.”