Olga Kubassova is devising a system that speeds up the diagnosis and treatment of rheumatoid arthritis, a crippling condition that affects around two per cent of the world population.

Ms Kubassova is the co-founder of Image Analysis, a Leeds-based company which produces software products for Magnetic Resonance Imaging (MRI) equipment. The software enables doctors to establish whether a patient is suffering from arthritis more quickly. Mr Kubassova, who was educated in Finland and Russia, came to Leeds as a PhD student in 2004.

She received the entrepreneur of the year award at Yorkshire Forward's fifth annual Yorkshire Bioscience Awards, which were held at the Thorpe Park Hotel in Leeds.

After receiving the award, she said: "I am so pleased to receive this award, which is very unexpected. We wouldn't be here without the help of the University of Leeds, Business Link and Yorkshire Forward; and all the people who have supported us through our first year."

The second award went to Tissue Regenix, a spin-out company from the University of Leeds, which is developing regenerative biological tissue grafts for use in areas such as vascular and orthopaedic medicine. Regenix won the young company of the year title in recognition of its rapid growth.

A Selby-based consultancy that specialises in conducting clinical research was awarded the prize for International Achievement in recognition of its work to increase its presence in the global healthcare market. Medvance has established a strong business base in US and Europe, with clients including Johnson and Johnson

Simcyp, a spin-out company from the University of Sheffield, which specialises simulating the way new drugs are absorbed and react within the body – a vital element of drug development – received the recognition of advancement award.

Professor Keith Holland of the University of Leeds received a lifetime achievement award in recognition of his career in bioscience, which spans five decades.

Sir Michael Arthur, member of the Yorkshire Forward board and Vice Chancellor of the University of Leeds, said: "Yorkshire and the Humber has one of the highest concentrations of healthcare technology companies in the UK, and much of the pioneering work in bioscience, medical devices and pharmaceuticals is coming from our regional universities."