The Scottish National Investment Bank (SNIB) said its investment was “aligned with the Scottish Government’s national mission to reduce drug-related deaths”.
Scotland’s taxpayer-funded investment bank has ploughed £5million into a device designed to cut drug deaths that is not even approved for use in the UK.
Annemarie Ward, chief executive of addiction charity Favor UK, said: “It is utterly disgraceful that millions of pounds is being spent on this ridiculous scheme when drug deaths have increased by 10 per cent in Scotland. Most of the time heroin addicts don’t have mobile phones, they sell them to get drugs, so this device is dead in the water straight away if you need a phone in your pocket.
PneumoWave is holding clinical trials of the technology.SNIB’s website said the firm, which was founded in the US, is still “working towards achieving regulatory approval in both the US and Europe”. SNIB said: “As an impact investor, the bank makes investments in businesses and projects based on their potential for both a commercial return and positive impact on society.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
100+ Scottish rugby fans are cycling to Rome – raising hundreds of thousands of pounds for motor neurone disease charity100s of Scots head to Rome for bike for charity
Read more »
Scotland’s slim Six Nations hopes over after shock defeat to ItalyItaly beat the Scots for the first time since 2015 in a sold-out Stadio Olimpico
Read more »
Scots dad saves son's life after donating kidney following horror diagnosisScots dad saves son's life after donating kidney following horror diagnosis
Read more »
From epilepsy to cancer & even stress – how safe really is CBD and what are the long term effects of celeb...Scots drug dealers boost online sales of cannabis products — by sticking QR codes on lampposts
Read more »
Scots carer to split £200k lottery win with mumA Scots carer who was 'gutted' after missing out on a lottery jackpot is now celebrating after her mum said she’ll go halves with her. Sharon Docherty, 53, decided not to join the People’s Postcode Lottery when her mum Sadie – who lives in the flat above her – signed up. But when Sadie, 86, scooped £200,000 on the Millionaire Street prize, the great gran hugged her daughter and vowed to split the winnings with her.
Read more »
Volunteers who found Scots dad's body receive 'game-changing' search deviceA team of volunteers who helped find the body of a Scots dad killed in a fishing accident have received a ‘game-changing’ search device.
Read more »