Another impressive financial year for Manchester-born spinouts

Ten brand new Manchester-based biomedical, science and engineering companies have been created over the past year by The University of Manchester Innovation Factory, producing cutting-edge technology and services which will benefit societies around the world.

In addition to forming these new IP-rich businesses, the Innovation Factory, which is dedicated to driving the commercialisation of innovations and intellectual property originating from The University of Manchester (UoM), secured an impressive 6.4M of first investment into Manchester-based spinout companies as well as 4.9M in UoM licensing income.

Andrew Wilkinson, Innovation Factory Chief Executive, said: "Over the past three years the Innovation Factory has worked hard to meet our ambitious targets and fulfil our commitment to create positive social, environmental and economic impact by helping UoM academics and student inventors commercialise their research.

"We are proud to help the nation’s most visionary researchers and scholars transform their ideas and theories into a form that can be used to benefit people from all parts of the world. Manchester has always been the birthplace of great ideas and that pulse of innovation is as strong as ever."

In 2021, the Innovation Factory was instrumental in facilitating the formation of Northern Gritstone through a partnership with the Universities of Leeds, Manchester and Sheffield. Northern Gritstone is an investment vehicle determined to be one of the largest investors into academic spinouts in the UK.

Wilkinson continued: "This year the Innovation Factory continued to perform well and exceeded most of its key targets, placing it firmly in line with the top technology transfer offices in the world. Our team works tirelessly to identify opportunities and maximise investment in the innovations originating from The University of Manchester, and this year further secures our positive trajectory."

Apini Therapeutics Ltd - Novel Small Molecule Therapeutics for the treatment of inflammatory diseases without induction of immune suppression

Music in Mind Remote Ltd - Digital platform for providing music to people with dementia

Sebomix Ltd - A rapid, non-invasive test for the diagnosis of Parkinson’s Disease and a wide range of other indications

To find out more about the Innovation Factory’s work and the projects they are supporting, visit www.uominnovationfactory.com