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July 2023

Life science pioneers secure £2.5m in grants

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Newcastle based Life Sciences and Biomedical businesses, LightOx, NunaBio, Magnitude Biosciences and Hexis Lab are celebrating securing several grant awards amounting to over £2.5million from Innovate UK’s latest round of R&D grants. Innovate UK provides the UK’s most innovative companies grant funding to help accelerate their growth and leverage private sector investment in the region. Through the support of advocates such as Labour’s Shadow Science MP Chi Onwurah, the region is able to demonstrate its capability and excellence in commercialising scientific breakthroughs. The funding will be used to advance the pharmaceutical and biotechnology research services, technology and drug development of these stand out companies. Innovate UK, part of UK Research and Innovation, have invested up to £25 million in a range of projects across the country this year. Supporting UK businesses to develop solutions that address significant health or healthcare challenges. From cancer prevention, development of new DNA based drug products, testing regimes and tailored treatments, the group are collectively transforming the delivery of healthcare and the development of new health technologies. The North East is fast becoming a hot bed of talent and innovation, with a notable rise in Life Sciences and Biomedical companies in the region proud to…

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