New treatments, diagnostics and medical technologies are set to benefit from an investment of $47 million through the Biomedical Catalyst (BMC)—a partnership between the Medical Research Council (MRC) and Innovate U.K. This MRC and Innovate U.K. funding will be further boosted by over $12 million of investment leveraged from industry, bringing the total investment for this round to $59 million.

This seventh round of the BMC, which now is in its third year, will support 38 awards in universities and companies across the U.K., from Aberdeen to Somerset, that have the potential to transform the lives of patients with a range of conditions. This includes 20 MRC Confidence in Concept awards to universities to support a portfolio of early stage translational projects.

BMC grants are available to U.K. academics and small to medium-sized businesses seeking to take their research from discovery through to commercialization to deliver patient benefit. Any U.K. small or medium-sized business or academic undertaking R&D has been able to apply to the BMC on a rolling basis, with applications assessed by independent experts.

This latest round of awards brings the number of BMC awards to 293 (168 funded by Innovate U.K.—formerly the Technology Strategy Board—and 125 funded by the MRC). Since 2011, when it was set up, there has been a total investment of $520 million split equally between the MRC, Innovate U.K. and leveraged funding from industry.