Altrika Limited, the wholly owned subsidiary of Ilika plc, the Aim listed cleantech materials discovery company has been awarded £100,000 in funding by the Technology Strategy Board as part of a government initiative to kick-start the development of new technology.
Altrika won the healthcare category of the competition for Disruptive Solutions, for its development work on a spray formulation of its Cryoskin® donor skin cell product, available at point of care, to treat paediatric burns and scalds, which could reduce time to healing and length of hospital stay while also reducing the need for costly secondary interventions arising from ongoing burn scar problems.
Altrika was one of 12 British companies and one of three healthcare companies selected to make a live pitch at Innovate10 for a share of £600,000 of government funding.
The 12 finalists were selected from around 550 businesses who submitted two-minute video pitches to the novel funding competition, managed by the government-backed Technology Strategy Board.
Commenting on the win, Graeme Purdy, CEO of Ilika, said: “We are delighted to have won our category and have been awarded this funding which will enable us to further develop our offering to the burns market. This funding will allow us to accelerate the development of Cryoskin® spray and bring the benefits of cell therapy to a much wider group of burn and scald victims, the vast majority of whom are children.
The ready availability of such a therapy will reduce the pain and disfigurement currently associated with these injuries, dramatically improving the quality of life of the victims, whilst also saving the NHS a lot of money.”
For further details, please contact:
Ilika plc
Graeme Purdy, Chief Executive
Steve Boydell, Finance Director
+44 (0) 23 80111400
Altrika Ltd
Richard Snell, Business Development Director
+44 (0) 114 222 0985
+44 (0) 7818 034572
Pelham Bell Pottinger
Archie Berens / Olly Scott / Francesca Tuckett
+44 (0) 20 7861 3232
About Altrika Ltd
Altrika Ltd. is a wholly owned subsidiary of Ilika plc, a global leader in high throughput materials discovery. The Company was founded in December 2008 to focus on the development and exploitation of novel materials in the biomedical sector. Altrika works with leading medtech companies to identify novel materials for specific applications, as well as developing solutions in-house for the next generation of medical products. Altrika runs a GMP manufacturing facility in Sheffield, UK, licensed by both the UK Human Tissue Authority (HTA) and Medicines and Healthcare products Regulatory Agency (MHRA) to supply its Cryoskin® and Myskin® services on a named patient basis exclusively at the request of, and under the responsibility of, the treating clinician. Cryoskin® and Myskin® are distributed in the UK exclusively by Cranage Healthcare.
About the Technology Strategy Board
The Technology Strategy Board is a business-led executive non-departmental public body, established by the government. Its role is to promote and support research into, and development and exploitation of, technology and innovation for the benefit of UK business, in order to increase economic growth and improve the quality of life. It is sponsored by the Department for Business, Innovation and Skills (BIS). For more information please visit www.innovateuk.org.