Business
Granted Innovate UK KTP for Stem Cell Research
Granted Innovate UK KTP for Stem Cell Research.
About this update from Iconic Labs Plc
[{"type":"text","content":"\n \nRNS Number : 0563I WideCells Group PLC 19 March 2018 \n\n19 March 2018\nWideCells Group PLC ('WideCells Group' or 'the Group')\n \nGranted Government-Backed Innovate UK Knowledge Transfer Partnership for Stem Cell Research\n \nWideCells Group PLC, the healthcare services company focused on providing stem cell services and ground-breaking insurance for stem cell treatment, is pleased to announce that its 100% owned stem cell storage and research division, WideCells Ltd, has been granted a government-backed Innovate UK Knowledge Transfer Partnership with Manchester Metropolitan University (MMU) to undertake research on a new form of stem cell technology. As part of this three-year research project, Innovate UK will provide £156,000 worth of funding towards a total project cost of £234,000.\n \nThe new technology allows specialised adult cells such as skin cells to be genetically reprogrammed to assume a stem cell-like state and accordingly be used in stem cell treatment and in the study of disease. These stem cells, known as induced pluripotent stem cells (iPSCs), could revolutionise the stem cell industry by making stem cells, and subsequently stem cell treatments, much more accessible. Following the research project, WideCells hope to have advanced iPSCs to a point of commercialisation so that the technology can be included in the Group's end-to-end stem cell service offering.\n \nTestament to the pioneering nature and potential value of the research project is the support received from Innovate UK, a government-backed public body that is committed to driving growth by working with companies to de-risk, enable and support innovation, particularly science and technology developments that it believes will drive future economic growth. Out of the 33 proposals that were chosen to be supported by Innovate UK, WideCells and MMU's project was ranked fifth. Innovate UK will provide £52,000 per annum in funding for the three-year project and WideCells Group will provide £26,000 per annum. \n \nA post-doctoral scientist will be employed and based in WideCells facilities in Manchester to carry out the research under the supervision of Professor Peter Hollands, WideCells Group Chief Scientific Officer, who is a leading figure in the global stem cell industry, and Profess...