23 March 2010

A scientist from UCL’s department of Medical Physics has received a major award from a new scheme to develop commercial returns from early-stage scientific research. Dr Paul Beard has developed novel imaging technologies, which has been patented and supported by UCLB.

The Finance South East Collaboration Fund has backed Dr Paul Beard by awarding £100k to develop a prototype ultrasound imaging tool for use in industry and medicine. Having demonstrated scientific proof of concept, funded by UCLB, the UCL team and their partners at Precision Acoustics Ltd believe the technology is ripe for commercial exploitation.

Chris Loryman, Business Manager at UCL Business PLC said “we are delighted at having the support of the Finance South East Collaboration Fund. We look forward to seeing the products from this research, and to delivering these exciting technologies into the market.”

CEO of Finance South East, Sally Goodsell added: “The UK is full of scientific innovation and entrepreneurial talent but too often ambitious projects fall by the wayside due to insufficient funding at crucial points in their development. At Finance South East we manage a range of funds to address this gap in early stage finance and we are delighted to have made [these] investments on behalf of EPSRC. The teams involved will face some challenging times in turning their inventions into commercial success, but their Finance South East fund manager will equip them to achieve this alongside an external business mentor.”

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Further information
Please contact Chris Loryman, Business Manager at UCL Business, on: +44 (0)20 7679 9000 or email: c.loryman@uclb.com