Anew £2 m investment fund is being launched to speed the best British medical inventions and ideas to a worldwide market. Designed to help surgeons and other medical practitioners develop their concepts into commercial reality, the fund is managed by surgical implants and medical devices manufacturer, Leeds-based Xiros.
Commenting on the initiative, Durham-based orthopaedic surgeon Mr Andrews Jennings said: “This is a welcome British shot in the armfor the medical product market, which is invariably led by the USA. This is an excellent opportunity for some home-grown product development.”
The company will use the fund to invest in the development of product ideas in exchange for a share of the intellectual property rights and potential future profits. In exchange, surgeons, therapists, academics and medical practitioners will gain from cash investment into development facilities, intellectual property protection, legal services and production expenses.
