A £4.2 million MedTech accelerator programme has launched, which will provide up to 140 UK small and medium-sized enterprises (SMEs) with grants to tackle regulatory challenges.
The six-month MedTech Accelerator: Rapid Regulatory Support Fund (MARRS) is aimed at SMEs developing or offering medical devices (including software as a medical device) and diagnostics (including in vitro diagnostics) products or services.
It is funded by the UK government and will be delivered by technology innovation centre CPI, in partnership with the Office for Life Sciences (OLS).
Companies can apply for a grant of up to £30,000 to fund external regulatory guidance and support, helping them accelerate the development of safe and effective devices to market or keep critical devices available to patients in compliance with new regulatory environments.
Rahul Kapoor, director of health tech at CPI, said: “We cannot understate the value MedTech companies bring to patients, the life sciences industry and the potential they hold for the UK economy.
“This project stands to help those SMEs and start-ups navigate a complex regulatory landscape and, crucially, deliver life-changing medical technologies to patients who need it most.
“By delivering safe and effective medical devices, we can provide a step-change to the care we can offer patients in the UK, and if this fund goes even a small way to getting those devices to those who need them most, we will have achieved something significant”.
The initiative is aimed at accelerating transformative medical technologies by identifying major technology and investment opportunities and proposing initiatives to unlock investment, skills and capacity.
Research conducted by CPI and the Association of British HealthTech Industries suggests that NHS patients could lose out on life-saving medical technologies due to delays in obtaining market approval and a lack of clarity on regulatory pathways.
Around 50% of the MedTech industry expect to delay the introduction of their innovation medical products into the UK market, and approximately 40% plan to approve their products in other markets before the UK due to the cost and uncertainty in the regulatory environment, the research found.
Roz Campion, director of the OLS, said: “Cutting edge devices have the ability to transform patient care and outcomes.
“SMEs are key to bringing forward these game changing technologies, but we’ve heard concerns in the past that this can be a complex system to navigate.
“The OLS is therefore pleased to enable a programme to support SMEs through the first parts of their journey to market.
“By enabling SMEs to access regulatory support, MARRS will encourage a pipeline of life-changing medical devices, flowing from our innovative SMEs to clinicians and patients”.
Applications opened on 9 October 2024, with decisions due to be announced by 29 November 2024. Only the first 300 applications to the programme will be accepted for consideration.
Speaking at a Tony Blair Institute for Global Change conference in July 2024, Wes Streeting, health secretary, pledged to make Britain “a powerhouse” for the life sciences and medical technology.
Meanwhile, in October 2024, Peter Kyle, science and technology secretary, announced the launch of a regulatory office, to help deploy AI innovations safely.
