RAFT’s charitable objective is to get the maximum benefit to the maximum patients as quickly as possible.
For the majority of projects this means attracting commercial investment into projects at later stages.
A good example of this is the story behind the Smart Matrix® product , where RAFT was involved in creating a standalone commercial company (Smart Matrix Limited) which raised over £10 million to carry out clinical trials and advance the products development. RAFT retains both a shareholding in this company and the entitlement to a royalty stream which both will enable RAFT to carry on new research.
Other RAFT inventions that require substantial funding to get them to patients are planned to be commercialised and different models of how best to do this will be explored at the time.
Smart Matrix®- the culmination of 15 years of research and development by RAFT – is poised to become one of the most important developments in the charity’s history. The product is a dermal scaffold which works by encouraging the proliferation of skin cells and the growth of new blood vessels.. This is a treatment which negates the need for a skin graft and will therefore bring benefits to the patent, clinician and health services.
A separate company for Smart Matrix®, was created, utilising the Enterprise Investment scheme and attracting private investors who would benefit from any eventual sale of the product. RAFT retains the royalties that will translate into a income for the charity. Patients will also benefit from this invention many years sooner as a result. A win-win for everyone.