The University of Colorado has just funded seven bioscience (five recent, two in fall of 2011) surrounding promising bioscience-based start-ups. Funding in the form of grants goes is directed toward proof of concept and seed-stage financing.
The program is a great example of collaboration between state agencies and research universities that directly leads to economic development (jobs, attraction, retention), capital attraction, and commercialization impact.
DENVER (May 18, 2012) – Five CU licensees were recently selected to receive matching grants through Colorado’s Bioscience Discovery Evaluation Grant Program (BDEG-Co). The State of Colorado Office of Economic Development and International Trade began the BDEG program in 2007, providing early-stage matching “seed” grants to enable the development and commercial validation of technologies that are licensed from Colorado research institutions by Colorado based start-up companies (as well as proof-of-concept grants to move promising CU biotechnologies closer to market readiness).
CU-based companies slated to receive funding in this round:
Amide Bio – provides research reagents and clinical products for a diverse array of research and commercial targets. The company’s proprietary technology platform, based on the work of CU-Boulder associate professor Michael Stowell, identifies critical molecular targets in finding therapies for Alzheimer’s disease.
Flashback Technologies – using machine learning to enable fast, non-invasive detection of acute blood loss volume and prediction of cardiovascular collapse in emergency situations. Based on work by CU School of Medicine professor and surgeon Steven Moulton and former CU-Boulder computer science researcher Greg Grudic, the company received BDEG funding in fall of 2009, in addition to this year’s grant.
OnKure – a company developing novel compounds that inhibit cancer cell growth and metastasis, based on the work of CU-Boulder professor Xuedong Liu.
Shape Ophthalmics – developing shape memory polymer (SMP)-based devices for the delivery of medication to the surface of the eye, for the treatment of eye diseases. Based on work by CU School of Medicine faculty members Malik Kahook and Naresh Mandava, and CU Denver/CU-Boulder professor Robin Shandas.
Suvica – an early-stage cancer drug discovery and development company, developing compounds that enhance the efficacy of standard cancer treatments. Based on the work of CU-Boulder professor Tin Tin Su, Suvica also received BDEG funding in spring of 2011.
“These are high-potential, Colorado-based companies that have emerged from CU research laboratories and are making their way forward into the commercial world,” commented David N. Allen, CU’s Associate Vice President for Technology Transfer. “We would like to thank all the legislators and others who have supported this program, which has helped these and numerous other companies become a part of the growing Colorado bioscience sector.”
In addition to these companies, in fall 2011 two other CU licensee companies received funding through this program: Crestone Inc. (developing novel antibacterial compounds) and Sophono Inc. (implantable bone anchored hearing devices).