Small businesses in Greater Manchester are driving breakthroughs in genomics, from drug repurposing to genomic prediction models, says innovation expert Dr Yousef Taktak. Learn how innovation support, strategic partnerships, and funding can fast-track your ideas into reality and transform healthcare.

See also: Pioneering Digital Health: Opportunities for Innovation in the NHS

Speak with Health and Life Sciences Innovation Specialist Dr Yousef Taktak at our GM Business Growth Hub 2024 BioCap Conference stand, in Manchester on 26th September 2024   .

Dr Yousef Taktak is GM Business Growth Hub’s Innovation Specialist for Health and Life Sciences. With his vast experience of developing innovations within the sector and an encyclopaedic knowledge of Greater Manchester’s innovation eco-system, there’s nobody with their finger more on the pulse of the region’s healthcare advancements – and nobody better to talk to about the latest in genomic innovation.

What’s exciting you in the world of genomics? 

I’ve been working in this field for a long time and it’s always so impressive to see the innovations coming out of quite small businesses. Some of the things I’m currently supporting them with have the potential to really transform healthcare in this country and beyond, so it really is an exciting time.

A couple of the companies are developing genomic prediction models that look at an individual’s genetic profile to determine whether a particular drug is going to be effective for them. Such a model could massively help with efficiency and costs within the health service, as well as being used by pharmaceutical companies in their development of new drugs.

Then there’s the repurposing of existing drugs that are more than 20 years old and out of patent, and using them to treat other conditions. There are clear benefits to this for SMEs. For one, investors are very unlikely to put their money into a small company for the development of new drugs, as they’re not going to wait the 10 to 15 years it would take to get through the approvals process before seeing a return on their investment. 

But if you're repurposing other drugs that are already out there, then they’re far more interested. With repurposed drugs, investors are probably looking at around five years before they can make their money and exit, which is far more attractive and around the same as for an investment in medical devices, say.

We’re still talking quite detailed studies before you get to the investment stage, of course. Before you actually start assessing and scanning an existing drug, you have to understand the chemistry, the formulation, and the mode of action – how it works, what it works on, and whether this can be translated into working on what you want – as well as having to look at regulatory approvals and developing a watertight business case.

But the opportunities are definitely there for smaller organisations to think, “Well, we can do that. We know the drug works for a particular area, but we can investigate it for others”.

Is there an accessible market for genomics in the UK?

Absolutely. The NHS is actively looking to partner with businesses that can support genomic testing and innovative solutions for patient care. In its strategy for embedding genomics, published in October  2022, it stated that genomics will be at the heart of healthcare going forwards.

And companies that can provide affordable technologies or solutions that support the embedding of genomic testing, by reducing testing costs and optimising diagnostics, treatment precision and patient outcomes, will certainly have a potential route into the NHS.

I’m supporting one company that’s developing biomarkers for drug efficacy and there are real opportunities for businesses developing new genomic-based treatments.

For a better understanding about accessing the NHS and Greater Manchester healthcare system, I suggest registering for one of our short Health Innovation Catalyst programmes, which run throughout the year and equip businesses with several avenues  and techniques to accessing the NHS.

What about funding and support for genomics?

There’s specific funding for genomics from organisations such as the Medical Research Council, Innovate UK, UKRI and Genomics England, as well as from GM Business Growth Hub’s Innovation Navigator programme. 

And then there’s private investment, which can be an equal source of confusion for SMEs. Putting yourself in the best position to receive investment is essential, but isn’t something that smaller businesses necessarily prioritise. 

It means knowing how to interact with an interested investor, preparing properly for the meeting(s), knowing and being able to best articulate your ‘hook’, and having a really strong pitch-deck to present. That’s often the difference between success and failure.

One business who did it right, that I’m working with, has raised £4.31million in funding. Called PharmaKure, they’re a small set-up of half a dozen people developing whole blood biomarkers to predict and diagnose the early onset of conditions like Alzheimer's and Parkinson's, and they’re also working on repurposed drugs for once a person has been diagnosed.

They started out by putting their own cash in and saw positive results. They were able to identify the toxin proteins in the blood that are linked to Alzheimer's, and  from there they began developing a diagnostic test to detect these proteins, as early as three years before the onset of symptoms. 

Then they raised a very small amount of investment and then began to say to themselves, “We can create a test, but what's the point of detecting toxins early on and diagnosing it if the patient can't then have treatment for it? Why would I want to know that in five years times I'm going to get Alzheimer's if I can't be treated straight away?”

So, they started building on that idea and through in-vitro testing found that there was potential to repurpose existing medication to disrupt the formation of plaque which affects brain connections and essentially cause Alzheimer's. 

The company needed cash to do that, and was financially supported by a group of private investors and the British Business Bank. And now they’re seeking to raise £3million to fund second phase clinical trials to be undertaken by Glasgow Memory Clinic, a specialist contract research organisation. 

They’ve recently joined our Innovation Navigator programme too, through which they have received a grant to carry out validation studies of their diagnostic test, and get that project over the line to commercialisation.

You can see how one piece of funding can lead to another, and the project gathers momentum. Obviously, for those working in this field, everyone’s going to be at a slightly different stage of their journey, but rest assured that I’m here to support you whatever stage you’re at.

Come and speak to me at the 2024 BioCap Conference , in Manchester city centre on Thursday 26th September.