InnoScot Health webinar shares ‘spinout success stories’ and the vital support required to get there 

Formal NHS Scotland partner InnoScot Health will be showcasing ‘spinout success stories’ later this month, including vital knowledge and insights required to establish a new business.      Healthcare innovators are invited to join the next in the organisation’s ongoing series of educational, free to join webinars, taking place on Wednesday 30 October, from 12.00 – 12.45.    Entitled Spinout success stories - translating innovative ideas into attractive commercial propositions, it will include experienced guest speakers offering useful insights on making that vital transition. 

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The session will be a great opportunity for forward-thinkers to understand more about how ideas originating within our NHS can result in the formation of new companies, providing opportunities to create jobs, attract investment, transform lives and showcase Scotland as a truly entrepreneurial nation.    The webinar will be introduced and led by InnoScot Health Innovation Managers, Fiona Schaefer and Frances Ramsay.  They will be joined by Chief Executive of Aurum Biosciences David Brennan – a former Principal Clinical Physicist at the Queen Elizabeth University Hospital in Glasgow – and Senior Partner and Founder of MBM Commercial law firm Stuart Hendry.    A spinout of InnoScot Health, NHS Greater Glasgow and Clyde, and the University of Glasgow, Aurum Biosciences is a clinical stage biopharmaceutical company developing a novel drug for therapeutics and multiple diagnostics, in areas of unmet clinical need such as stroke, spinal cord injury, and inflammatory imaging.    David, an NHS innovator who successfully made the transition to leading the company, will share his innovation journey while demonstrating the vast potential of Aurum’s technology. His presentation will also look at reaching the point of knowing when a proposition is commercially viable, tapping into support from external partners, and leveraging expertise within the immediate team.    Earlier this year, the company raised a six-figure sum – supported by new and existing investors – in the first tranche of a new round of equity funding aimed at further developing its state-of-the-art technology.     Stuart Hendry will discuss how best to prepare to spinout successfully with insights from his extensive experience and tips to overcome common pitfalls and hurdles.    Kicking off the webinar, InnoScot Health will talk about how the spinout route has accelerated development of a range of products for use in hospitals and other settings in Scotland and around the world.    It will also provide insights on the unique way that the organisation has been set up, allowing it to hold equity in spinouts on behalf of NHS Boards securing the long-term prospects of commercial return.     InnoScot Health’s East of Scotland Innovation Manager Fiona Schaefer said: “We believe this will be an invaluable webinar for healthcare innovators. There are many routes to get an innovation to market and it’s valuable to share our experience of supporting multiple NHS spinouts. This helps to demystify the process and illustrates the real value of combining clinical and commercial expertise.    “It will provide useful insights from two guest speakers – one who has successfully made the leap from NHS to spinout with our ongoing support; the other, a legal expert who can offer great advice to help make the process as smooth as possible.     “David and Stuart know that getting the right support and guidance to successfully navigate the innovation journey is vital and I believe attendees will find the session very instructive.”    The accessible, bitesize ‘lunch & learn’ sessions are hosted on Microsoft Teams, regularly providing a platform for inspiring guest speakers whilst allowing InnoScot Health staff to share their deep knowledge and insights on innovation.    Pre submit your questions for the closing panel discussion to info@innoscot.com