Big names in finance and science to launch £5m Scots fund

A £5 MILLION stem cell research fund backed by Scottish Enterprise is being launched today supported by some of the biggest names in research and finance.

Medical research charity UK Stem Cell Foundation (UKSCF) will run the fund to underpin the work of researchers and clinicians in Scotland working to combat illnesses including diabetes, multiple sclerosis, strokes, liver disease and Alzheimer’s.

Today’s launch of the Scottish Stem Cell Research Fund will be attended by venture capitalist Jon Moulton, founder and managing partner of the private equity firm Better Capital, and fertility expert Lord Winston, who are both trustees of the UKSCF.

The foundation has already supported a number of stem cell research projects in Scotland in collaboration with Scottish Enterprise in recent years with a total of over £5.2m of funding provided.

The new fund aims to bridge the critical gap between funding for early stage research which is mainly backed by the public sector and the stage where the private sector or NHS get involved. Funding provided by the UKSCF can often leverage significant further support into a research project.

Lil Shortland, chief executive of the UKSCF said: “Scotland is home to some of world’s leading stem cell researchers and scientists. However, with ongoing pressure on the public purse, it is becoming increasingly difficult to access funding for this exciting area of research.

“We will focus on raising funding for research projects from a range of sources, and would encourage everyone with an interest in this exciting area of work to get involved. ”

The foundation said it had already received several applications for support from the fund.

Scottish projects recently supported by UKSCF, Scottish Enterprise and other backers include a liver disease research project at the University of Edinburgh which aims to develop viable cells from embryonic stem cells for use in treatment of acute and chronic liver disease.

The global market value for stem cell and regenerative medicine research is expected to reach nearly £6.5 billion by 2013.

Scotland currently has the largest concentration of stem cell research in Europe with around half of all UK research licences issued to organisations north of the Border.

Meanwhile, Glasgow-based life sciences company Bio-Images Research yesterday celebrated the tenth anniversary of the first of its clinical trials.

The Glasgow-based company, founded as a University of Strathclyde spin-out in 2000, completed its first clinical study in September 2001 which opened the door to a string of contracts from some of the world’s biggest pharmaceutical companies.

The company recently opened a new facility in Singapore and formed a partnership with CPS Research, also based in Glasgow, to attract further drug development work from major pharmaceutical players.