WIREDGOV

Six highly innovative small and early stage Med-Tech companies in Wales have been selected for a £600,000 R&D funding boost from the UK’s innovation experts Innovate UK to develop and commercialise the next generation of medical technology devices and products.

The winning companies took part in the £1m Launchpad for the Medical Technology cluster in Wales - the first such ‘Launchpad’ in Wales and the first for this sector in the UK.

Designed to support the development and growth of high tech companies in the Med Tech cluster  located along the  M4 corridor from south east to west Wales, the Launchpad will not only help attract further investment into the area, but also encourage collaboration and networking within the cluster.

The Welsh companies were selected for funding to take their products to the next stage in addition to two other businesses based outside Wales that are working in collaboration with the cluster in Wales.

The successful businesses are developing a number of novel products in areas such as respiratory diagnostics, advanced surgical equipment and Cell therapy.

The winning businesses in Wales are:

• Alesi, Cardiff
• Cotton Mouton Diagnostics (CDM), Cardiff University spin out
• Glyconics, Swansea University spin out
• Invitron, Monmouth
• Melys Diagnostics,Whitland
• TrakCel, Bridgend. 

The announcement coincides with a visit to Cardiff (23 and 24 June) by Dr Ruth McKernan, the new Chief Executive of Innovate UK, to discover more about the Welsh innovation landscape. She will be meeting with key figures including Edwina Hart, Minister for Economy, Science and Transport, the Permanent Secretary for Wales, and the Chief Scientific Adviser for Wales.

During a visit to the Wales Life Sciences Hub she will meet a selection of the companies that have been awarded funding through the MedTech Launchpad and find out at first hand how the funding will help them achieve their growth aspirations.

Economy Minister Edwina Hart said:

"Life Sciences is one of our key, fast growing sectors with Medical Technology one of Wales' major industrial strengths. The Launchpadcompetition recognises the importance of the MedTech custer in Wales and I am delighted that funding from Innovate UK is supporting the next generation of MedTech businesses. These small an early stage businessare developing some extremely exciting products with the potential to make a real impact on the future health and well being of patients.
 
"The Launchpad supports the Welsh Government's strategy to grow the sector through initiatives like the £100m Wales Life Sciences Investment Fund and the Life Sciences Hub Wales."

Dr Ruth McKernan said:

"This Launchpad shows how inventive and productive Welsh businesses can be, and I look forward to more Welsh companies being successful in their Innovate UK grant applications in the future."

Dr Akshay  Peer, TrakCel Commercial Director said:

"TrakCel is delighted to have been selected for Medical Technologies Launchpad funding. The grant will enable us to gain access to Cell Therapy Catapult's regulatory and manufacturing expertise in Regenerative Medicine Industry. The funding will also enable TrakCel to accelerate the development of our product and maintain our first mover advantage in this industry."