The Biomedical Catalyst (BMC) provides grant funding to biotech and life science SMEs for the translation of innovative scientific ideas into products and therapies for patients.
Funding is technology agnostic and prioritises innovation within human health and life sciences. It is run by Innovate UK, part of UKRI, and the Medical Research Council (MRC). Since 2012, the BMC has received over 3,000 applications and generated £4.72 in public and business value for every £1 invested by the government, according to Ipsos Mori's 2019 BMC Impact Evaluation.
The BIA was instrumental in securing the launch of the BMC and made its continuation a key campaign focus. The BMC was relaunched in 2020, allowing innovative biotech companies to access a share of £30 million in grant funding. The relaunch was the direct result of consistent campaigning by the BIA and our members. We were keen to ensure that this crucial source of early-stage financing for UK bioscience companies will continue to support the development of new life-changing medical treatments, diagnostics and devices, and underpin economic growth for the future.
In its first round of 2023, a share of £25 million was made available to UK-registered SMEs through the BMC. The UK-registered SMEs could apply for a share of up to £20 million in the second round which closed in November 2023.
BIA members Arecor and MediSieve share how BMC made a difference
BIA member Arecor on the BMC
