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Precision medicine projects win private equity backing

Innovate UK and a group of private equity investors are putting more than £16 million into projects aimed at developing personalised medicines.

The funding will be delivered through the Precision Medicine Investment Accelerator competition, with Innovate UK contributing almost £7m and private equity investors providing around £10m, UK Research and Innovation said in a statement on 7 August. The competition will support projects that offer “disruptive change” to systems for diagnosing, monitoring and treating disease.

Thirteen projects are being supported by the accelerator, with work starting during the summer and continuing for two years.

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