The Government has announced the decision to invest around £16 million in various ‘life-saving’ medical advances, including improved diagnosis and treatment for cancer and heart disease.

13 ‘precision medicine’ projects from UK-based small or medium-sized enterprises (SMEs) will get a share of the money, so they can use a combination of information about a patient’s genes, proteins and environment, and medical images, which will then be used to do things such as explore cell-based therapy to treat a currently incurable form of lung cancer, and develop a blood test for early detection of brain cancer.

“From the discovery of penicillin, to the invention of the hip replacement operation, the UK has a rich history of driving crucial medical breakthrough,” explained business secretary, Greg Clark.

He went on to say that “Now UK firms are on the precipice of ground-breaking advances using ‘precision medicine’ technologies – meaning early diagnosis and better treatment for devastating diseases including cancer and heart disease.

“Through our modern Industrial Strategy, we are delivering the biggest ever boost to R&D funding in UK history. This new £16m investment in the UK’s brightest medical gamechangers will propel crucial research from laboratory to market, ensuring the population can reap the rewards of these life-saving advances, sooner rather than later.”

This funding is available are part of the Government’s modern Industrial Strategy, which is keeping the UK at the forefront of development disruptive new technologies – as well as making the UK one of the “most exciting places to start a business for budding entrepreneurs.”

Alongside the funding, a competition has now opened allowing medical companies to be in with the chance to win a slice of £22m to develop digital pathology technologies – which could help medical professionals diagnose diseases.