Washington, D.C. (March 27, 2014) – The Biotechnology Industry Organization (BIO), the National Science Foundation (NSF) and the National Institutes of Health (NIH) today announced an agreement to feature Small Business Innovation Research (SBIR) funded early-stage biomedical companies in a newly-created Innovation Zone at the 2014 BIO International Convention®. The Innovation Zone companies, focused on drug discovery, diagnostics and other platform technologies, will have dedicated exhibit space and participate in BIO’s One-on-One Partnering™ system. Select companies will make presentations in the BIO Business Forum, the Convention’s business development platform.
“We are thrilled to announce this new partnership with the National Institutes of Health and the National Science Foundation to create the Innovation Zone, an exciting new feature for the 2014 BIO International Convention,” said Scott Whitaker, President of the BIO International Convention. “Through the SBIR grant program, these companies have demonstrated significant market potential and transformational technology with substantial societal impact, presenting an incredible investment opportunity for early-stage investors. I hope everyone at the San Diego Convention takes the time to stop by and learn about these exciting companies. ”
“The BIO International Convention is an excellent opportunity for these companies to showcase their cutting-edge technologies, form long-term partnerships and begin to raise funds in the private sector,” said Jesus Soriano, MD, PhD, MBA, a program director for NSF's SBIR/STTR program. “These connections will be invaluable as the small businesses build on their early successes and move forward to bring innovative technologies to market, where they will ultimately help to improve healthcare, create jobs and stimulate the economy.”
“The Innovation Zone at the BIO International Convention offers an inside look at some of America’s most promising biomedical technology firms strategically positioned and ready for investor and partnering engagement,” said Lenka Fedorkova, PhD, program manager for NIH SBIR/STTR programs. “Many of today’s largest biotechnology companies, including Amgen, Genzyme and Biogen Idec, received NIH SBIR funding when they were young companies. We are committed to supporting our companies along their path to commercialization and are excited to partner with BIO to showcase the next generation of health care market solutions at BIO's Innovation Zone.”
Each of the companies has been rigorously vetted through the SBIR review process prior to receiving the funding. The majority of participating companies in the Innovation Zone have received SBIR Phase II grants, which provide up to $1 million dollars in funding to engage in R&D that has the potential for commercialization.
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