The Institute of Cancer Research has access to a range of translational funds to support the development of its research from bench to bedside.
BACIT (the Battle Against Cancer Investment Trust) provides funds to the ICR and supports larger projects. Projects supported by BACIT will be substantial and if successful the work carried out must be capable of significantly enhancing the commercial value and prospects of the work. An independent panel of experts take decisions on investments from the fund.
BACIT is a unique fund of funds investment trust whose investment objective is to deliver superior returns from investments in leading long-only and alternative investment funds across multiple asset classes.
BACIT only invests where the relevant investment manager provides investment capacity on a ‘gross return’ basis, meaning that BACIT does not bear the impact of management or performance fees on its investments.
Instead BACIT invests up to 1 per cent per annum of its net asset value (NAV) in drug development and medical innovation projects undertaken by the ICR in the field of cancer research and therapeutics which have the potential for commercial development and application.
BACIT also makes an annual charitable donation of 1 per cent of NAV, half of which is donated to the ICR and half of which is donated to the BACIT Foundation (registered charity number 1149202). The BACIT Foundation will in turn make grants to charities named in a list proposed annually by the BACIT Foundation in proportions determined each year by investors in BACIT.
The ICR contributes to the Faringdon Fund each year and when there is sufficient funding available we open a competition for awards. Awards of between £30,000 and £50,000 are made. Projects are eligible for a Faringdon Fund award if there is a possibility that clear progress towards a commercialisable result will be made in the funding period with a key milestone being reached (e.g. a patent filed, effectiveness demonstrated or a prototype created). If technically successful, the value of the project must be seen to be enhanced.
Biomedical Research Centre
The Biomedical Research Centre at The Royal Marsden NHS Foundation Trust and the ICR makes small awards to support translational research projects at the ICR and the Royal Marsden.
CRT Pioneer Fund
The CRT Pioneer Fund has been established to create a £50m+ investment fund to bridge the investment gap between cancer drug discovery and early development. It will fund potential cancer drugs, primarily discovered by Cancer Research UK-funded scientists, from discovery through to entry to Phase II clinical trials before partnering with pharmaceutical and biotechnology companies. The CRT Pioneer Fund is managed by 6th Element Capital.
Wellcome Trust translation Awards
The aim of Translation Awards is to develop innovative and groundbreaking new technologies in a biomedical area.
Projects must have already demonstrated proof of principle, supported by experimental data. Applications should bridge the funding gap in commercialisation of new technologies in the biomedical area in question and must plan to take the product, technology or intervention to a stage at which it is sufficiently developed to be attractive to another party.
Wellcome Trust Seeding Drug Discovery awards
The aim of Seeding Drug Discovery
is to develop drug-like small molecules that will be the springboard for further research and development by the biotechnology and pharmaceutical industry in areas of unmet medical need.