PHTA and Oxford Science Enterprises partner to scale high growth companies
Early-stage life sciences enterprises are set to benefit from a new collaboration between Birmingham’s Precision Health Technologies Accelerator (PHTA) and Oxford Science Enterprises (OSE).
The partnership will focus on helping high-growth health technology and life sciences companies to scale, primarily through access to high-quality lab and innovation space, while also catalysing cross-regional collaboration between academics and enterprises.
PHTA is the University of Birmingham (UoB)’s flagship life sciences research accelerator, where entrepreneurs, start-ups and scale-ups collaborate with clinical-academic specialists with the aim of rapidly translating and commercialising therapies and technologies. Due to open in late 2023, it will be located at Birmingham Health Innovation Campus – a 10-acre science park which is being delivered in partnership between UoB and Bruntwood SciTech.
OSE is an independent investment company created in 2015 to build transformational businesses through its unique partnership with the University of Oxford. Actively focused on a core portfolio of around 40 companies - spanning across life sciences, health tech and deep tech – OSE goes well beyond funding by providing access to advisers, specialists and state-of-the-art lab and start-up space to help founders turn cutting-edge ideas into successful businesses.
PHTA is set to help address the current low availability of research-focused lab space in the UK by providing early-stage companies with access to much-needed grow-on space.
Professor Irene Tracey, vice-chancellor at the University of Oxford, said: “We are thrilled to be involved in this exciting new initiative that brings together our two great universities centred on a shared belief in our collective ability to solve some of the great health challenges via the creation of more commercial research. This is good news for the local and national economy and it shows what is possible when we combine strengths and work collaboratively.”
University of Birmingham provost and vice-principal, Professor Stephen Jarvis, added: “Universities are unique in their ability to act as ‘engines’, producing new SMEs and driving regional growth through creating high-value jobs. By establishing this Birmingham-Oxford life sciences partnership, which will be a vibrant mix of university and commercial research, we believe we’re setting the direction of travel for future collaborations between regions.”
Professor Gino Martini, PHTA’s CEO, explained: “We’re fortunate to have multiple regional centres of excellence across the UK and I firmly believe that we work best when we work together. Birmingham and Oxford have a long track record of collaboration – including the Arthritis Therapy Acceleration Programme and Covid-19 drug trials among other projects – and we’re confident that increased collaboration along the ‘M40 corridor’ will lead to enhanced patient outcomes and economic growth in both regions.”