From the beginning of the year 2011, Regea Institute for Regenerative Medicine and Institute of Medical Technology are united and form the Institute of Biomedical Technology (IBT). The new institute cooperates closely with the institutes at Tampere University of Technology (TUT) engaging in the field. The aim is to create an interdisciplinary, internationally high standard research and education institute (BioMediTech), operating on the interface of biomedicine and technology. It also aims to contribute to creating new innovations and businesses. For this purpose, the project has received funding both from the European Regional Development Fund and from the Council of Tampere Region.