More than 70 research projects have received grants as part of a scheme designed to speed up the commercialisation of research in priority areas.

Speaking at Bournemouth University to launch the Biomedical Catalyst funding, Mr Willetts said that the initiative will ¡°help us to realise treatments that could have remained trapped in the laboratory¡±.

Among the research projects to secure finance are a blood test that can identify Alzheimer¡¯s disease, a new gene therapy for Parkinson¡¯s disease and a new method for treating cancerous tumours.

Mr Willetts, who was speaking to mark the start of Universities Week, said: ¡°The projects we are funding through the Biomedical Catalyst are testament to the depth and quality of our British research base.

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¡°The UK life science industry is one of the world leaders; it is the third largest contributor to economic growth in the UK.¡±

He added that the sector is changing, with more focus on collaboration, research outsourcing and earlier clinical trials.?

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The Medical Research Council and the Technology Strategy Board jointly run the Biomedical Catalyst.?

Sir John Savill, chief executive of the MRC, said: ¡°Since its inception, the Biomedical Catalyst has awarded over ?170m to UK scientists and businesses. This has been matched by an additional ?97m of private investment.¡±

He added: ¡°The academic-industry partnerships forged through this investment will help to improve lives by delivering the next generation of innovative therapies and will help drive the UK economy.¡±

Universities Week, which runs from 9-15 June, is celebrating the role that academic research plays in improving people¡¯s lives.

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holly.else@tsleducation.com