RoslinCT, StormID and Daysix will share the funding, which amounts to more than £1.7 million. The projects have been funded by the UK Government as part of its Industrial Strategy Challenge Fund, managed by UK Research and Innovation.
RoslinCT, an Edinburgh-based company, has been awarded £887,000 to develop stem cell therapies for clinical use as part of a project with ReproCELL.
Stormid will receive £586,000 to develop digital services for patients with lung conditions, while Daysix was awarded £290,000 to create a clinical decision support app; which has the potential to transform the delivery of trauma care.
Supporting Healthcare Innovation
Lord Ian Duncan, UK Government Minister for Scotland, has met with all three of the companies and highlighted the need to support healthcare innovation and emerging technologies.
“This UK Government funding is about supporting breakthrough technology to transform healthcare across the country for both patients and staff,” he explained. “Three Scottish companies will receive more than £1.7 million to develop stem cell-based therapeutics, digital self-management services for lung patients and systems to provide real-time decision support in the care of trauma patients.”
Lord Duncan added: “Scottish companies are at the forefront of life science developments, and this UK Government funding will help them develop their expertise even further.”
At the Forefront
Life science and MedTech firms in Scotland have been drawing global attention so far in 2018. In July, Edinburgh-based MedTech company, Snap40, raised more than $8 million in a new seed fund round led by ADV.
This funding took the firm’s total investment at that point to more than $10 million, and the company said it planned to use the cash boost to expand its team.
Parts of this investment were also earmarked to expand the firm’s presence in the US, where it has clinical trials and pilots with a number of leading hospitals and institutions.