Taking Bioscience into the new millennium by David Best

Introduction | Key to Success | Progress

MMI's success has been based on a unique skills-base, which has put it in an ideal position to identify, select and manage potentially winning technologies. Its involvement in what became polyMASC Pharmaceuticals, an AIM-listed drug delivery company which spun out of London's Royal Free Medical School, enabled MMI to achieve a 75,000% return on its investment over a three year period.

Another key to success has been MMI's position at the coal-face of technology, giving it access to a potentially massive deal-flow. MMI not only works for universities and pharmaceutical companies, but has become a market leader in the new NHS technology management business. MMI has recently won contracts with many of the major teaching hospitals including the biggest, London Hammersmith.

However MMI's success raised a new problem - where were they to put all these young biotech companies? Leaving them in the universities was the worst option, as they need to be in a disciplined business environment.

The obvious answer to both MMI's needs and those of St. John's College was for MMI to create a biotechnology business incubator, with wet laboratory space and a full range of specialist mentoring skills.

The Bioscience Innovation Centre plc (BIC) was formed, land was acquired on the Innovation Park, planning permission was obtained and the Edinburgh-based Scottish Life agreed to fund the building of the Centre.

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