Partnerships
As a wholly owned subsidiary of Inverness Medical Innovations Inc. we enjoy the financial and technical support of a global leader in near patient, rapid diagnostic devices. IMI’s mission is to:
1) enable consumers to gain greater control over their own health.
2) enable healthcare providers to improve clinical outcomes and lower costs
3) to deliver to their investors annual significant earnings growth for the next several years
The IMI group of companies incorporates recognized brand names such as Clearview and Triage and health management delivery companies like Alere, Matria and QAS. This gives us great opportunities for collaboration and exploitation, providing access to a wide-range of skills and capabilities, enabling us to accelerate the speed of our development projects and reduce time to market.
Through our sister company Biosite we enjoy access to many years experience of operating in the area of Cardiology. This helps us gain a truly international understanding of how healthcare is delivered and access to key opinion leaders in the care for CHF patients world-wide.
We are delighted to be working closely with the NHS throughout the UK, and more specifically across Scotland, as we look to develop a product that meets the needs of both Healthcare Professionals and patients themselves.
We have enjoyed great support and feedback from some of the leading Cardiac Specialists in Scotland as we have taken our product in to the hands of users in clinics at the Glasgow Western and Golden Jubilee hospitals.
The commitment and support of Scottish Government agencies has been vital to our business. Their willingness to share the risk of a visionary and innovative initiative was key to bringing the project to Scotland, a country with a growing reputation as a leading centre of biomedical and cardiovascular research.
ITI Life Sciences (ITI) is an organisation driving Scotland's ambitious plans to identify, develop and commercialise valuable technology-based intellectual assets in the life sciences sector. The group's aim is to bridge the funding gap between publicly-funded early-stage research and privately backed commercial development.
In return for a substantial investment over the first three years, ITI have received intellectual property rights to the IP generated in this period. This allows them to leverage the technology underpinning our novel diagnostic platform in other areas, such as bio-defence, veterinary care, environmental monitoring and food testing. We continue to work with ITI and their partners in securing successful exploitation opportunities.
As part of the initial arrangement the Inverness Medical Innovations group of companies matched ITI's investment in SMI.
Through our Account Management Team, Scottish Enterprise (SE) continues to provide advice and support to SMI.
They share SMI's commitment to learning and skills development as part of their wider business development remit and they approved training support of £1 million for SMI to assist us through the start up phase. They continue to work with us through our development phase and in planning for the exploitation and expansion of our technology, providing both advice and financial support.
Through its international economic development agency, Scottish Development International (SDI) the Scottish Executive approved a Regional Selective Assistance grant to SMI. SDI provides support to many companies to encourage inward investment in Scotland.
One of Europe's most beautiful campuses, Stirling University Innovation Park is where SMI calls home. The Park concept is much more than an idyllic business setting where management welcomes tenants into a collaborative business community. Through our time in the Park we have enjoyed the benefit of their flexible, incubator approach to space provision as our business needs have changed.
