An initiative designed by Discovery Park to supercharge life sciences firms’ potential to scale, has been launched – and the first phase of Reactor has been completed.
Ten companies have benefitted from eight weeks of high-level mentoring and coaching worth £15,000. This support analysed their businesses and then importantly position them for growth and also included coaching with the Triple Chasm Company’s data-based approach to commercialising innovation.
Companies on the programme are involved in developing or delivering clinical diagnostics, drug and medical device discovery, and providing services to biotech and clinical organisations. The companies selected include: BioMavericks, Clinical Diagnostics, Curtis Analytics, Genestack, MedConcept, Psyros Diagnostics, Scitegrity, SpOtOn, Testavec, VisusNano, and Vitarka Therapeutics.
Mentors working with the Reactor companies include Isabel Fox, general partner, Outsized Ventures; Jo Pisani, strategic advisor, non-executive director and trustee and Dr Claire Thompson, CEO, Agility Life Sciences.
In addition, each of the companies were able to access some of Triple Chasm’s analysis tools for a year and membership of Discovery Park’s community, including business services. The Triple Chasm Company’s approach combines the understanding of the three ‘chasms’, or stages where business development stalls, with analysis of a company’s technology and commercialisation readiness level and twelve vectors which drive growth. It is supported by data from thousands of high-growth companies across the world.
Dr Martino Picardo, Chair of Discovery Park, said: “The UK is home to innovative companies leading the field of life sciences, globally. Accelerating their growth allows the sector, and the wider community, to benefit faster from ground-breaking, innovative healthcare solutions. We’re confident that we’ve selected companies with growth potential to be part of the first Reactor programme and we look forward to helping them turn their development plans into positive action.
“The Reactor programme, along with the launch of our new incubator facility in 2022,
will go some way to transforming Discovery Park into a world-class hub for the
translation of life sciences research, where innovation and collaboration are driving
forward the next generation of healthcare initiatives and discoveries.”