Absynth appears in industry report

  • August 10, 2015

abSynth

Our investee company Absynth Biologics is one of the companies featured in a new report published by the UK BioIndustry Association (BIA).

Published following the announcement of the last round of the current Biomedical Catalyst (BMC) funding allocation, the report ‘The Biomedical Catalyst’ gives a retrospective of the current scheme and showcases ten case studies from companies who have been recipients of BMC funding.

To date the BMC scheme has awarded over £250 million to accelerate medical research. Over 180 business-led projects have been supported with funds worth over £130 million and with a total project value of over £240 million. This means that over £100m of additional private capital, in the form of matched funding, has been leveraged as a condition of the Biomedical Catalyst awards. Furthermore, beyond the Biomedical Catalyst awards, post-award funded companies and academics have realised in excess of a further billion pounds in the form of additional private finance, grant funding, via licencing or acquisition.

This new BIA report demonstrates that the Biomedical Catalyst is a successful government policy that is underpinning the ongoing growth of the UK life sciences sector and calls for it to be continued in order to sustain this and ensure the ongoing contribution of the life sciences sector to overall UK economic growth.

To read the report click here.