Manchester’s Oxford Road Corridor, Health Innovation Manchester and TRUSTECH have signed a Memorandum of Understanding (MoU) to create a new partnership with Nashville-based Life Sciences investment company, Briovation. This forms part of Greater Manchester’s continued commitment to foster the growth and competitiveness of its flourishing Life Sciences sector.
The Life Science industry plays a critical role within the health and social care system, providing a pipeline of innovation with the potential to transform population health and wellbeing. Oxford Road Corridor is fortunate in that it enjoys a diverse and burgeoning Life Sciences sector, encompassing everything from pharmaceutical, medical technology and digital companies who are thriving in the city-regions devolved health and social care system and deriving significant benefits from the level of support currently on offer such as funding, expertise and brokering. However, this new partnership with Briovation will enable Greater Manchester to bolster its already highly attractive proposition with the provision of additional investment funding, entrepreneurial programmes, and innovation export and import opportunities between the city-region and the lucrative US market.
Briovation have a reputation for delivering results and currently provide a portfolio of services aimed predominantly at supporting life sciences SMEs including strategic advisory support, assisting companies moving from an idea to a successful launch, and securing investment; all of which have the potential to contribute to accelerating innovation, yield additional growth and create additional opportunities for life sciences industry across the region – a priority for Greater Manchester and the wider UK.
Running for an initial period of 3 years, the MoU is a critical first step in identifying aspects of Briovation’s US offer that can add value to the Greater Manchester Life Sciences economy, and, tailoring it to the UK market with a view to co-delivering it in an integrated manner, enhancing the overall support and opportunities on offer to the life sciences industry. A comprehensive implementation plan will be launched in the second half of 2019.
Jackie Oldham, Director of Strategic Initiatives, Oxford Road Corridor said “We are excited to partner with Briovation to broaden opportunity for local and regional healthcare businesses that are looking both for strategic investment and the ability to introduce their offerings into the complex US healthcare market”.
Vic Gatto, Briovation’s CEO and Co-Founder said “Briovation has identified Greater Manchester and the North of England as an important world-wide centre of healthcare innovation, and envisions this collaborative partnering relationship as highly complementary to its existing US business. The Greater Manchester region has developed a healthcare ecosystem that is recognised globally for its leadership in Health and Social Care, and its dynamic entrepreneurial environment creates an ideal opportunity to implement our proven approach outside of the US”.