South East England Development Agency (SEEDA)

New 'breakthroughs in diabetes' diagnosis fund created through unique partnership

28 August 2007

SEEDA, SEHTA, Finance South East, Ortho-Clinical Diagnostics and the Johnson & Johnson Corporate Office of Science and Technology create a unique partnership to accelerate diabetes research.

South East England Development Agency (SEEDA), South East Health Technologies Alliance (SEHTA), Finance South East, Ortho-Clinical Diagnostics, a Johnson & Johnson company, and the Johnson & Johnson Corporate Office of Science and Technology have today (28th August) announced the launch of a new research fund open to those involved in all aspects of diagnosis and management of diabetes and diabetes-related diseases.

The £500,000 fund will be available exclusively to companies in the SEEDA region – Kent, Surrey, Sussex, Hampshire, Isle of Wight, Berkshire, Buckinghamshire, Oxfordshire and Milton Keynes – and to academic institutions anywhere in the UK.

The purpose of the fund is to accelerate discovery and translational research into the diagnosis, monitoring and management of pre-diabetes, diabetes and diabetes-related illnesses. Private sector funding for this initiative has been provided by Ortho-Clinical Diagnostics, a Johnson & Johnson company, and the Johnson & Johnson Corporate Office of Science and Technology.

Andre Ruzycky, Vice President Technology Assessment at Ortho-Clinical Diagnostics said: "Diabetes affects millions of people in the UK. This new fund aims to accelerate research projects in this field bringing vital new medicines and products closer to market."

Ruzycky continues: "SEEDA, SEHTA and Finance South East have demonstrated a new and innovative way to coordinate support and funding into health technology companies in South East England. We are convinced they will be able to identify and encourage the right companies and academic institutions to participate in this project and are confident in the results that will follow."

Ed Metcalfe, Head of Science, Technology, Entrepreneurship and Management at SEEDA said: "South East England has the highest concentration of health technology companies in the UK with some 600 companies providing one third of all UK employment in this sector. Nine of the world’s 10 leading life sciences companies and the top 12 global pharmaceutical companies are in the region, along with many world renowned universities, medical schools and institutes undertaking pioneering health research. Thirty per cent of the UK’s life sciences R&D is undertaken in the region. We believe that this project has the potential to shape the future agenda for business to business knowledge transfer in this region."

The fund will be launched on 6 September. The deadline for initial expressions of interest will be 5 October, with full proposals required by 17 November.

The Fund is likely to offer two large awards of £125,000, two medium awards of £75,000 and four smaller awards of £10,000.

David Parry SEHTA’s Chief Executive Officer, said: "One of the other major benefits to participating applicants is the opportunity to establish direct access to technology and other support with Johnson & Johnson and their large number of associated companies spanning many different medical disciplines."

Sally Goodsell, Chief Executive Officer at Finance South East concludes: "Diabetes is a serious illness and has huge implications for the individuals affected, their families and the wider UK economy. We are looking forward to working with Johnson & Johnson and companies and academics in this field. We believe this Fund will make a real difference and set a standard for future collaborative funds."

Companies and academic institutions wishing to access this funding must make applications through Finance South East – www.financesoutheast.com/ourfunds/index.aspx?id=1032. All proposals will be assessed by a panel of experts drawn from SEHTA, Ortho-Clinical Diagnostics, the Johnson & Johnson Corporate Office of Science and Technology, SEEDA and Finance South East.