The East Midlands Academic Health Science Network (EMAHSN) is pleased to announce that the first four clinical evaluation awards have been made as part of the INSTILS Project – part funded by the European Regional Development Fund (ERDF). The EMAHSN is contributing to the funding of these major new awards for Derbyshire and Nottinghamshire based medical technology companies as a delivery partner of the INSTILS project which is led by Medilink East Midlands.
The awards to the four successful SMEs provide of up to 50% of funding for their trials of new medical technology. The trials being carried out are designed to provide the essential evidence base to demonstrate that the innovative products are both effective in delivering benefits to patients and that they demonstrate a sound health economics business case – to help accelerate the successful spread and adoption of a product throughout the NHS.
The four companies awarded funding to date are:
NuVision Biotherapies Ltd
Snowden Healthcare Ltd
ViVO Smart Medical Devices Ltd
The first awards have been made to small to medium sized companies based in the D2N2 / LEP area. Following the success of this initial programme – the first of its kind in the region -EMAHSN and Medilink East Midlands are now looking to extend the initiative across this and other areas of the East Midlands region for future investment awards, with details to be announced shortly.
EMAHSN Commercial Director Chris Hart explained: “Having a robust evidence base which confirms the patient and economic benefits of an innovation is a vital ingredient to the successful spread and adoption of a product throughout the NHS.”
The programme forms an integral part of the EMAHSN Industry and Enterprise Market entry and expansion support programme designed to enhance the spread of health innovations at pace and scale, both within the East Midlands region and nationally.
Dr Darren Clark, Chief Executive of Medilink East Midlands, said: “We are delighted to be working alongside the EMAHSN on this exciting new programme, which will provide valuable support to Medical Technology companies across the region. The Medilink East Midlands INSTILS project follows on from the ERDF-funded healthcare and bioscience iNet, which ran from 2008-2015 and supported more than 1000 companies. The MedTech Trials Programme is a valuable addition to the support we currently provide, and we look forward to continuing to assist Life Sciences companies across Derbyshire and Nottinghamshire.”
For more information about the East Midlands Academic Health Science Network please click here.