27 Mar 2019
Greater Manchester enters transatlantic partnership to enhance growth and competitiveness of life sciences innovation companies across the city region
Greater Manchester’s commitment to fostering the growth and competitiveness of its flourishing life-sciences sector took a step forward this month with the announcement of a new partnership with US investment and strategic advisory firm Briovation.
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. Greater Manchester is fortunate in that it enjoys a diverse and burgeoning life sciences sector encompassing 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 now formalized through a Memorandum of Understanding (MoU) 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.
Based in Nashville Tennessee, 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 life sciences industry. A comprehensive implementation plan will be launched in the second half of 2019.
Professor Ben Bridgewater CEO of Health Innovation Manchester said: “The life sciences sector in Greater Manchester is a core part of the local economy which employs thousands of people, acts as a catalyst for economic growth, stimulates activity within our universities, and provides a rich vein of innovative products and services with the potential to change people’s lives for the better. It is essential that we capitalise on opportunities to support the success of these companies which are pivotal to the health and wealth of the region.”
Vic Gatto, Briovation’s CEO and Co-Founder said: “Briovation has identified Greater Manchester and the North of England as an important world-wide center 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 recognized 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.”
Richard Deed, TRUSTECH Technology Director said: “ Bringing together the unique capabilities of Health Innovation Manchester, TRUSTECH and Manchester’s Oxford Road Corridor alongside those of Briovation has the potential to create even more compelling offer for life science organisations based in or contemplating locating to Greater Manchester – creating additional economic growth, employment opportunities and accelerating the adoption of proven innovation that transforms the health and well-being of citizens on both sides of the Atlantic.
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.