BIVDA Press Release - BIVDA welcomes opening of Diagnostics Transformation Fund
BIVDA, the trade association for British in-vitro diagnostic companies, has welcomed the launch of the ‘Medicines and Diagnostics Manufacturing Transformation Fund’ which is now open for applications. The new fund of £20 million is dedicated to expanding the manufacturing capacity of the life sciences industry.
The fund is open to manufacturers of human licensed medicines, medical diagnostics and medical devices, and projects must have a minimum total size of 8M, with no upper limit. It is also open to projects delivering new facilities, expansions, new product lines, equipment or other capital costs underpinning manufacturing facility upgrades. Applicants can submit more than one application, but these must be for different investments.
Commenting on the launch, BIVDA CEO Doris-Ann Williams said
“This fund will help to boost innovation across the UK diagnostic sector and help ensure patients get access to cutting edge medical technologies sooner. BIVDA called for more research & development support in our Budget submission and are pleased to see this scheme progressing. A strong, growing UK IVD industry will be vital in ensuring we are prepared for other potential pandemics and health challenges for the future.”
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