BUSINESS STANDARDS
is the quarterly magazine of BSI Group, highlighting the vital role that standards play in today's business environment. Regular features include interviews with leading business figures, as well as news on the latest developments in management systems and standards.
ReGenMed: tomorrow's medicine today
29 May 2008
Topics: Regen medicine
In February, BSI hosted the Regenerative Medicine Forum - "Supporting UK Innovation in Regenerative Medicine through Standardization" - in London, inviting some of the biggest names in the field to discuss the development of a vibrant regenerative medicine industry.
The regenerative medicine industry faces significant barriers, not least the successful commercialization of its products. Among other things, it's a segmented market with an ambiguous regulatory framework, and investors are often cautious about investing in a technology as young as this.
Some of these challenges will be overcome through the timely introduction of appropriate standards, which benefits stakeholders by:
>assisting innovation by sharing best practice and setting benchmarks for quality, safety and performance;
>clarifying the technical requirements that innovative products and processes must meet in order to gain global market acceptance;
>enabling national ideas to become accepted internationally, opening up overseas markets and gaining competitive advantage; and
>balancing producer and user interests by developing market led solutions, promoting fair competition and increasing the diversity and quality of suppliers for producers and consumers.
Attendees learned about key developments and were asked for their views on the direction the UK should take in regard to future standardization in regenerative medicine. It represented a unique opportunity for stakeholders to ensure that BSI's future standards work supported their business, and accurately represented their interests beyond the UK.
The meeting culminated in a unanimous mandate for BSI to lead efforts in standardization in this area, domestically and internationally. These recommendations included the establishment of a UK technical committee in this area, and the development of work items that would aid the commercialization of the technology in the UK.
For more information, visit: www.bsigroup.com/may08regenmed
Business Standards © 2007. Editorial produced by Caspian Publishing in association with the British Standards Institution. Editorial opinions expressed on are not necessarily those of BSI Group or Caspian Publishing. Neither Caspian Publishing nor BSI Group accept responsibility for advertising or editorial content, nor for that appearing on linked third-party websites. Reproduction in whole or in part is forbidden without written permission from BSI Group or Caspian Publishing.
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