A CALDICOT based company will receive £320,000 of EU funding to help develop a plaster which can proactively help wounds to heal.

Known as a ‘photonic band aid’, the special plaster uses lights to speed up healing and can also monitor wounds during treatment.

International Microsemi Corporation will work on the device from its Monmouthshire site, which employs around 100 people.

Rhys Waite, a senior design engineer who will be working on the innovation, said: “We are excited to be involved in a project where we can potentially enable better healthcare.”

Working with others on the device which works by flashing red and blue lights, the company hopes to develop a prototype within the next few years.

Jim Aralis, chief technology officer, said: ‘Microsemi is pleased to be part of the MEDILIGHT Horizon 2020 collaboration and we look forward to working with its world class partners. The collaboration allows Microsemi to capitalise on its miniaturisation technologies to help deliver innovative wound healing solutions.”

Companies can apply for money from the EU’s Horizon 2020 fund, worth nearly €80 billion across the EU between 2014 and 2020.

The fund aims to produce world-class science and industrial developments and promote collaboration between the public and private sectors.

Welsh Government finance minister Jane Hutt announced the funding yesterday. She said: ‘Horizon 2020 presents Wales with excellent opportunities to build research excellence and enhance Wales’ reputation in the world for research and innovation”

Ms Hutt said in addition, £310 million of EU Structural Funds will be invested in Wales to help build capacity for research.

Julie Williams, Chief Scientific Adviser, said: ‘Coupling scientific excellence and innovative companies with European funding will help us build success in Wales in the future, producing better health care, new technologies, more jobs and greater economic capacity.”