UK-based George Health has announced £27 million of new financing to accelerate the commercialisation of affordable drug treatments and technologies for some of the world’s “biggest killers.”

The funding round, led by Bupa Australia, Federation Asset Management and the Australian Government-backed Medical Research Commercialisation Fund Biomedical Translation Fund (MRCF BTF), is set to fast-track the growth of George Health Enterprises, the commercial arm of the world-leading George Institute for Global Health.

As a result, the company will be able to accelerate the development of an innovative drug and technology pipeline, born from The George Institute’s research program, including a low-cost digital technology to guide clinical decision making for patients with multiple chronic diseases, and an ultra-low-cost dialysis system for patients with end-stage kidney failure.

The investments will also see a £20 million financial boost to bring to market a near-registration medicine for the prevention of recurrent heart attacks, a late-stage drug treatment for high blood pressure, and an “innovative” treatment for Type II diabetes.

Stephen MacMahon, professor of medicine at the University Oxford and Principal Director of The George Institute said: “This investment is very good news not only for George Health but, more importantly, for the hundreds of millions of patients suffering those chronic diseases that still cause most premature deaths worldwide. Mainstream pharmaceutical and medical technology companies are increasingly focussed on rare diseases, so George Health is filling a major emerging gap.”

The George Institute UK, an independent medical research institute aiming to improve the health of millions of people worldwide, was established in 2010 in partnership with the University of Oxford.