Patent Baristas » Bioventures

Amazing race: Win $250,000 For Commercializing Biomedical Research

Stephen Jenei — Tue, 20 Oct 2009 21:35:07 +0000

The Partnership for New York City and the New York City Economic Development (NYCEDC) Corporation announced that the New York City Investment Fund (NYCIF) will provide up to $1.25 million for a BioAccelerate NYC Prize in a competition that will provide funding for biomedical translational research. The BioAccelerate NYC Prize is a citywide competition targeting commercialization of the biomedical research conducted in New York.

The goal of BioAccelerate NYC Prize is to translate laboratory discoveries into jobs and business development in the city. Applications will be reviewed by a panel of experts from the investment, finance and life sciences industries and up to 12 finalists will be invited to make presentations during the week of January 25.

Three to five winners will be selected, with each awarded up to $250,000 in funding. NYCIF will receive a percentage of income from the successful commercialization of products funded by the BioAccelerate NYC Prize to allow NYCIF to continue funding additional commercialization efforts in life sciences.

The competition is open to researchers affiliated with not-for-profit universities and research institutions in New York City. To be eligible, an applicant’s research should be at a stage that is almost ready to be commercialized as a product that will improve human health. Finalists will be mentored by one or two life sciences industry entrepreneurs and have access to patent and regulatory expertise in order to help refine their project’s commercial potential. Winners will continue to work with the industry entrepreneurs towards commercialization and company formation.

For more information about the bioscience initiative, visit nycbiotech.org.

The application for this competition will be available starting Thursday, October 15, 2009. Entries for the BioAccelerate NYC Prize must be submitted by November 25, 2009.

New NCI SBIR & STTR Grants Available: Deadline December 5

Stephen Jenei — Mon, 24 Nov 2008 21:32:12 +0000

If you are a small business and are interested in obtaining early-stage financing to support your cancer research and technology development, you may be in luck.

The National Cancer Institute (NCI) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs are offering funding opportunities to eligible small businesses and research institutions for the development and commercialization of novel technologies and products to prevent, diagnose, and treat cancer.

The NCI SBIR & STTR Programs currently have several grant opportunities with December 5, 2008 receipt dates. Funding is available in a range of topic areas. The topics below represent some of NCI’s highest priorities for technology development and commercialization. These topics include:

- Anti-Cancer Agents	- Manufacturing Processes
- Cancer Biomarkers	- Device Development
- Nanotechnology	- Imaging Technologies
- Proteomics	- Diagnostics
- Health Information Technology	- And other areas of interest to the NCI
- Pharmacodynamic Assay Development

Why Apply for NCI SBIR & STTR Funding?

Small businesses and research institutions play an important role in advancing cancer research, prevention, diagnosis, and treatment. In addition, the NCI SBIR & STTR Programs can benefit small businesses in many ways. Small businesses can receive seed capital to push promising technologies through development and commercialization without diluting company stock or shares in any way. Businesses maintain intellectual property rights to technologies.

These funding opportunities are awards, not loans, and no repayment is required. In addition, SBIR & STTR funding can be a leveraging tool to help attract additional funding from other third-party investors.

Additional NCI SBIR & STTR Funding Opportunities

For a complete listing of all funding opportunities from the NCI SBIR & STTR Programs, including the new NCI SBIR Phase II Bridge Award, please visit here. The NCI Bridge Award is a new innovative funding opportunity designed to address the funding gap known as the “Valley of death” between the end of a NIH SBIR Phase II award and the commercialization stage. Budgets up to $1 million in total costs per year for up to three years may be requested from the NCI as part of the Bridge Initiative. The next funding deadline is February 27, 2009.

Learn About How to Apply

View presentations and videos from the NCI SBIR & STTR Programs Forum to learn more about the application process and get tips from prior awardees on how to prepare a successful proposal. These videos also provide information and resources about how the NCI SBIR & STTR Programs can help your company develop its business.

Contact

If you are interested in discussing your organization’s project with NCI Development Center staff to explore how it aligns with NCI’s priorities, please contact a Program Director here.

The SBIR & STTR Programs are government set-aside programs for domestic small businesses to engage in research and development that has the potential for commercialization and public benefit.

Sign up here to receive updates about SBIR & STTR funding opportunities.

Are Biotech Start-Ups A Bargain? Or Toast?

Stephen Jenei — Wed, 05 Nov 2008 00:38:40 +0000

In a spate of recent articles, it would seem that the world has come to an end in terms of high-tech IPOs — not to mention venture backing of early-stage start-ups. Because of the recent market turmoil, the M&A market has has come to a screeching halt and the window of opportunity for IPOs has shut completely. Even angel investors are rethinking investment moves.

According to recent articles in Wired, VCs are mostly pumping money on hand into existing portfolio companies or in large, established start-ups that have already gone through several rounds of funding. What’s more, the slow down may hit the Midwest even harder. Mirroring the regoin itself, Midwest VCs have are a lot more conservative in their investing than coastal investors.

Companies looking to secure financing are needing to look beyond venture groups to a variety of non-traditional sources such as hedge funds, retirement accounts, family trusts, deposed dictators, individual or angel investors. Even the tried and true home equity route is shut down.

Reuters reported that the biotech industry has not seen an IPO since November 2007, when Nanosphere, which develops diagnostic tests, made its $113 million debut at the bottom of its price range. Since then, it is down 68 percent. Those waiting in line are finding no exit. In the last two weeks, nearly half of the biotech companies in the IPO pipeline have dropped out. Five biotech companies remain in the pipeline, with deals totaling $330.5 million, according to Thomson Reuters data.

All this is counter-intuitive. Biotechs are companies that generally sell products — diagnostics and therapeutics — that are unaffected by market conditions. Then why the long face for biotech start-ups? The market is skittish about the length of time for return on investment and the prospect of huge returns. Only seven of the 61 biotech companies to have gone public since 2000 are currently trading above their IPO prices.

So, what is selling? Biotechs with products ready for market. The venture spigot is off for early-stage companies including most any Phase 1 or Phase 2 stage company. Right now, companies on the early side of the curve will need to look to doing more partnerships and mergers.

While all the doom-and-gloom strikes fear in many start-ups and entrepreneurs say that money just isn’t flowing, it could be that this is the perfect time to invest. Start-up equity can be found cheap in this buyer’s market. OK, admittedly you don’t get money for having an idea scratched out on a bar napkin just because it involves the internet and sock puppets but there are still opportunities to be had.

The key to survival in this market — as it should be in all markets — is having a great management team and a low burn rate. That’s a winning venture.

See more here:
Where Have All The Biotech IPOs Gone? (Pharmalot)
Biotech Facing a Long IPO Dry Spell (California Biotech Law Blog)

Global Cardiovascular Innovation Center (GCIC) RFP Announcement

Stephen Jenei — Thu, 02 Oct 2008 16:18:21 +0000

Yes, the country’s financial system may be in total meltdown right now but your company can still benefit from the Global Cardiovascular Innovation Center (GCIC). On top of developing and acquiring new technologies, the GCIC also looks to launch new cardio companies and recruit companies with $30 million in investable cash.

The GCIC has announced the next round of the Commercialization Funding Program beginning with a formal request for proposals to be released on October 1, 2008.

GCIC is calling for proposals from companies and institutions seeking to commercialize innovative cardiovascular technologies. GCIC can provide development assistance and financial support to advance promising technologies through development and commercialization milestones.

Proposals for cardiovascular technology commercialization projects will be accepted from research institutions and companies currently located in Ohio or seeking to develop a presence in Ohio. Projects will be evaluated on technical, commercialization and economic development merits.

Proposals due on November 21, 2008.

The Global Cardiovascular Innovation Center is a $250 million product commercialization consortium made possible by a $60 million grant from the State of Ohio’s Third Frontier Project. The consortium is led by the Cleveland Clinic and includes Case Western Reserve University, the Ohio State University, the University of Cincinnati, the University of Toledo and University Hospitals of Cleveland, along with leading industry and economic development partners.

More at the GCIC website.

Ohio Valley Affiliates for Life Sciences (OVALS) Regional Conference in Louisville, KY

Stephen Jenei — Thu, 14 Feb 2008 19:38:31 +0000

The Ohio Valley Affiliates for Life Sciences Group (OVALS) will host it’s 6th Annual regional conference “Transformational Research: A Bridge to Building Economies” on April 14-15, 2008, at the Historic Brown Hotel in Louisville, KY.

Topics Include:

Future trends in the biotech industry and factors that will shape it
A close-up view of NC: key elements, impact and lessons
Partnering with foundations
Changing landscape of universities and industry working together
OVALS regional assets: what do we have – how can they be used
Congressionally mandated programs as a source of funding

An optional program this year is the Business Bootcamp for Scientists and Engineers. This includes sessions on IP, marketing, start-up and funding. (Note: Advanced registration required)