Earlier this month, the U.K.’s Engineering and Physical Sciences Research Council (EPSRC) and the Technology Strategy Board (TSB) announced that they would be providing grants totalling over £6.5 million ($10,285,345.31) to

seven business-led projects that will focus on developing therapeutic agents and diagnostics where nanoscale technologies are at the heart of the innovation.

The aim of the investment is to help ensure that the UK can become an early competitive adopter of these novel technologies and rapidly meet the urgent and difficult challenges posed within the worldwide healthcare sector, by translating world-class early stage ideas from academia and commercialising them through building supply chains with innovative businesses.

The funding is conditional, subject to compliance and financial reviews by EPSRC and TSB. The U.K. views this funding as actively supporting growth in the British economy through healthcare technologies.

The companies involved in these projects are:

Critical Pharmaceuticals Ltd

Johnson Matthey plc

 Mologic Ltd

Nanomerics Ltd

OJ-Bio Ltd

Renishaw Diagnostics Ltd

Sharp Laboratories of Europe Ltd., a subsidiary of Sharp Corporation of Japan.

A list of the projects funded by the grants may be found here.