Bright future for nanomedicines, says report

Nanomedicines have been highlighted as a major growth area for nanotechnology in a new industry report.

Nanotechnology: a UK industry view gives recommendations for the future success of nanotechnology in the UK based on work carried out by the nanotechnology Mini-Innovation and Growth Team (Mini-IGT), which comprises representatives from the UK's four knowledge transfer networks (KTNs), and makes suggestions for improving support for nanotechnology.

Companies such as Pfizer, Intrinsiq Materials (which is developing a coating that it claims kills flu viruses) and Boots, as well as universities, research organisations and trade associations, have endorsed the report.

Main issues holding back the growth of nanotechnology, says the report, are concerns about the health, safety and environmental impact of nanotechnology, problems with funding and a lack of co-ordinated advice from Government.

Barry Park, theme manager for manufacturing and processing at NanoKTN and one of the co-authors of the report, said the public must be made aware of the benefits of nanotechnology and any risks.

"We want to endorse responsible nanotechnology developments to ensure products are safe to manufacture, use and dispose of," he said.

Many nanotechnology developments are in the healthcare sector (drug delivery, drug discovery tools and medical devices) and the report warns that companies will not take investment risks unless these safety issues are addressed. In addition, the existing regulatory requirements may not be adequate to address the new properties exhibited by nanotechnology.

Although nanotechnology research has received nearly £650m in Government funding over the past 10 years, the majority of solely nanotechnology based firms are either start-ups or SMEs, and these companies need more accessible and commercially focused funding, the report says.

Among the larger companies there is a concern that public opinion and more stringent regulation will have a detrimental effect on their business and a balanced view needs to be taken on which categories of product should be subject to regulation if innovation is to continue.

"Funding should have continuity from product development through to commercialisation," said Park.

Funding strategy should also be re-examined so that it takes into account the cross-disciplinary nature of nanotechnology research projects, the report adds.

The report recommends that the Department for Business, Innovation and Skills (BIS) take a leading role in co-ordinating nanotechnology activities across Government to ensure investment provides added value to the UK.

If this recommendation is implemented, funding can then be directed through the bodies responsible to BIS to drive the successful commercialisation of nanotechnology based products.

Industry and Government should engage in an "evidence-based" dialogue with the trades unions and NGOs, as well as assist banking and insurance companies in understanding nanotechnology to enable sound investments to be made in nanotech businesses.

In addition, professional and vocational educational programmes should be developed to produce people with skills and expertise to support the commercialisation of nanotechnology in the UK.

The report will now go forward as part of a Government consultation and its nanotechnology strategy will be launched in March.