Medical technology’s £300m boost

The Government is to inject more than £300 million in developing the technologies needed to support an ageing population.

With 10m Britons alive expected reach the age of 100, ministers say they need to “revolutionise” the way people get older, ensuring they remain healthy and independent for longer.

Under the plans set out by Business Secretary Greg Clarke, a £210m competitive fund will be established to invest in the development of innovative new diagnostic tools, medical products and treatments.

It will include the creation of a series of regional centres across the UK to improve the diagnosis of patients, using technologies such as artificial intelligence.

It will also invest in genome sequencing, drawing on the genomes of 500 “biobank” volunteers to develop tools for early diagnosis of illness and disease and a new wave of therapies.

A further £98m will be invested in a healthy ageing programme to develop new products and services to help people live in their homes for longer.

In addition, another £40m will be going to the UK Dementia Research Institute, researching new treatments for the condition.