A spinout medtech company from Swansea University has been awarded a government grant to support the development of its new medical technology. Corryn Biotechnologies has been awarded a £50,000 grant by the UK Government’s innovation agency, Innovate UK.
The firm has developed a technology which creates cheap and quick-to-apply bandages made from nano- and micro- fibres that can keep complex wounds clean without touching them. The company said the resorbable materials trigger a natural healing response by the damaged tissue helping the restoration of the tissue.
The funding will be used to help Corryn expand its Advanced Tissue Repair platform and add bacterial infection indicators to the dressings. The start-up is one of 270 start-ups throughout the UK awarded a share of £13m in grant funding from the agency aimed at helping them develop affordable, adoptable and investable innovations.
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Each company has never previously received funding support from Innovate UK. Corryn Biotechnologies was one of 14 businesses in Wales that received funding via the initiative.
Other projects across the UK being funded through the scheme include technologies in semiconductors AI, quantum physics and engineering biology. All projects are expected to complete over the next six months.
Lisa Hazelden, chief product officer at Innovate UK, said: “Congratulations to each of these 270 pioneering small businesses receiving their first Innovate UK grant. These awards will provide crucial cash flow to help accelerate the innovation that will drive our future economy and society. We wish them every success and look forward to collaborating with them as they grow and scale.”
