University gets new biomedical research fund
THE University of Manchester has signed deal with Johnson & Johnson’s Corporate Office of Science and Technology to establish a new fund for biomedical innovation.
The proof-of-principle fund will allow scientists at the university to submit ideas with the promise of having a positive impact on human health.
Once proven, projects will be further developed, using further funding from the University of Manchester Intellectual Property company’s Premier Fund, set up to commercialise the research from university spin-outs.
The university said the fund will lead to projects that explore how new technological approaches, such as regenerative medicine, will impact the treatment of conditions like Alzheimer’s and diabetes as well as to the generation of new diagnostic markers and medical devices and materials which may help manage disease.
Professor Rod Coombs, vice-president for innovation and economic development at The University of Manchester, said: “This fund will prove invaluable for scientists as they look to take their research to new levels and could lead to new technology platforms which will underpin new therapies. We are delighted that COSAT has chosen Manchester as a centre of excellence.”
Clive Rowland, chief executive of UMIP, said: “This agreement will allow scientists to make major strides forward in their research as well as help them to develop that research into products with commercial potential. UMIP will make decisions on how to distribute the fund, based on the commercial case of each individual submission.”
