Asked by: Baroness Northover (Liberal Democrat - Life peer)
Question to the Department for Science, Innovation & Technology:
To ask His Majesty's Government what plans they have to enable Innovate UK to recognise the reclassification of medicines as innovation in their grant assessments.
Answered by Lord Vallance of Balham - Minister of State (Department for Energy Security and Net Zero)
Innovate UK recognises the role of innovation in the reclassification, repurposing, and reformulation of medicines.
Whilst not all competitions will allow funding for post-market products, Innovate UK has supported projects involving repurposing for new indications, novel delivery models, formulation changes, and wraparound technologies to improve patient access. For example, Innovate UK is currently funding Signacor Therapeutics in Northern Ireland to repurpose an existing chemotherapy drug towards the treatment of heart disease.