WBBA COMMERCIALIZATION BY THE NUMBERS
Curious about what types of companies utilize WBBA’s pro bono Commercialization Consulting services? Well, we’ve been keeping track! So far in 2012, our commercialization team has met with 85 different companies, entrepreneurs and research groups looking for advice on commercializing life science technology. The following data shows that life science entrepreneurship in Washington State is not slowing down! (Click image to see full-size.)
Additionally, while more than half of the 85 entities we’ve met with this year are in Seattle, almost 25 different Washington cities are represented in the data above!
Are you an entrepreneur, startup or researcher looking for advice or help to commercialize your next big idea? We schedule meetings every other Wednesday with the Commercialization Team.
Are you a service provider who wants to connect with early stage companies and entrepreneurs like these? Sponsor our consultation services – and get instant exposure to almost 100 life science startups!
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New SBIR/STTR Match Program – Get Help Writing Grants!
In an effort to help early stage life science companies with access to non-dilutive capital, as well as offer valuable industry experience to trained scientists, we are excited to announce the SBIR/STTR Match Program. The program will match each selected company with an intern paid by the WBBA- a current graduate student or postdoctoral fellow - who will assist the company with the preparation and writing of an SBIR or STTR grant to be submitted in 2013. Additionally, the WBBA will support the preparation and writing process with workshops and mentorship support via a committee of experienced industry professionals with a history of SBIR, STTR and commercialization success. Applications for this round of companies and interns are currently closed, but keep an eye out for more information about future rounds!
We would like to thank the Herbert B. Jones Foundation for making this program possible.
For more information about this program, contact Director of Commercialization, Christiana DelloRusso at firstname.lastname@example.org.
Also, check out our Grants Page for the latest news on federal and private non-dilutive capital opportunities.
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Funding for Startups from the National Cancer Institute – Event Recap
Dr. Gregory Evans from the National Cancer Institute (NCI) visited the WBBA on October 18, 2012 to speak about funding opportunities for small businesses from the NCI. Dr. Evans is Program Director and Team Leader at the NCI's SBIR Development Center. In his talk (slides linked here), he highlighted contract opportunities with specific topic solicitations (announced only once per year), Phase II Bridge Awards for current grantees seeking additional commercialization support (next round of applications due March 6), and imminent rule changes included in the Congressional reauthorization of the SBIR program (see slides for details). Some of the take home messages from Dr. Evans's talk are highlighted here:
- SBIR contracts are different from grants- see slides for how they vary. In contrast to grant RFPs, the NCI solicits contract applications only ONCE per year!
- For grants, call the NCI SBIR Development Office and speak to them about your application - often the office's staff will be asked to supplement scoring information by recommending which proposals should be funded!
- Early stage companies should focus on one high quality, targeted application, versus multiple proposals for various products.
- There are valuable supplemental programs for grantees that support commercialization efforts - ie., the Niche Assessment Program (NAP), the Commercialization Assistance Program, and additional clinical and specimen resources. Many of these programs have participant caps and due dates, so be aware and take advantage of them!
- New rules will include hard caps on SBIR awards - how these hard caps will be dealt with by each of the NIH institutes remains to be seen, so keep up on announcements and implementation.
The NCI SBIR Development Office is open to your feedback and questions - contact information can be found in the slides and can also be found here.
NIH BrIDGs Program Provides No-Cost Access to Pre-clinical Research Services
Successful applicants to the NIH BrIDGs program (Bridging Interventional Development Gaps) receive access to NIH contractors who conduct preclinical studies for the development of new therapeutic agents at no cost to the investigator. In general, synthesis, formulation, pharmacokinetic and toxicology services in support of investigator-held Investigational New Drug applications to the U.S. Food and Drug Administration are available. Eligible applicant organizations include academic institutions, not-for-profit organizations and SBIR-eligible businesses.
This is NOT a grant, but works through a competitive application process. The BrIDGs program accepts applications once a year. The next opportunity to submit an application to BrIDGs is between December 1, 2012, and February 1, 2013.
Life Sciences Discovery Fund Update
LSDF is now accepting pre-proposals from Washington for-profit and non-profit organizations for the following types of grants:
- Proof of Concept grants (up to $250,000 per award) to enhance the commercial viability of intellectual property developed by non-profit organizations or enhance the competitiveness of early-stage companies for private equity investment. (This grant mechanism combines the Commercialization and PreCede mechanisms offered in prior years.)
- Opportunity grants (up to $1.4 million per award) to fund extraordinary research and development proposals having the ability to significantly leverage LSDF dollars against those from other sources.
LSDF is implementing a new submission and review process for 2012-2013:
- Year-round application submission.
- Monthly pre-proposal reviews (including a presentation and interview for Proof of Concept applicants).
- Quarterly proposal reviews and awards by the LSDF Board of Trustees.
All applicants must submit a pre-proposal to be considered for a grant. Only a subset of pre-proposals will be invited to submit a proposal.
Up to $7,000,000 is available for award through June 2013, with no specific allocations or quotas by grant type (Proof of Concept vs. Opportunity) or applicant organization type (for-profit vs. non-profit). As awards are made, the remaining balance of funds will be available here.
SEED AND EARLY STAGE CAPITAL
WINGS Angels Continue to Invest in Washington’s Med Tech Startups
WINGS, The Washington Medical Technology Angel Network, is a joint initiative of WBBA and the medical technology community. WINGS’s mission is to close the gap in early stage funding to accelerate the translation of medical technology innovation from the lab bench to patients. Since the inception of WINGS, 34 companies have been selected to present at ten Investor Meetings from 135 deals screened. To date, WINGS is responsible for nearly $5 million of investment in ten Washington med tech companies. That represents about a quarter of $20 million raised by these ten companies in the past 2+ years.
About a third of the companies that make it through screening and present to the WINGS investors receive some investment. WINGS held its final Investor Meeting of 2012 on October 16th with three company presentations from Ciel Medical, Indel Therapeutics, and EchoGuide Medical, and company updates from Innovative Pulmonary Solutions, Spiral Genetics, and Cardiac Insight.
The WINGS network is looking forward to its next meeting on February 12th. Emerging medical technology companies are encouraged to apply to present. To be considered for the next round of screening, apply by the January 8, 2013 deadline for the February investor meeting. For more information on how to apply to present, to become a WINGS investor or to sponsor WINGS, visit www.medtechwings.com or email WINGS Project Manager Brady Ryan at email@example.com or WINGS Managing Director Christiana DelloRusso at firstname.lastname@example.org.
WINGS thanks the generous support of its sponsors: WBBA, Perkins Coie, WRF Capital, University of Washington Center for Commercialization, Silicon Valley Bank, SonoSite, Stratos, Varitrex, Philips, Physio-Control, JP Morgan, the Coulter Foundation at the University of Washington, and The Rainier Club.
VENTURE CAPITAL and STRATEGIC PARTNERSHIPS
VIP Forum Updates: Shire Pharmaceuticals Recap and Bristol-Myers Squibb’s Return Visit
During WBBA’s Venture Investment and Partnering (VIP) Forums, venture investors and multi-national strategic partners (VIPs) travel to Seattle to participate in two related events. First, the VIP gives an overview of their firm at a Plenary Session and Networking Reception open to the life science community. More than 500 life science professionals have attended these sessions in the past year! Second, the VIP participates in a customized, day-long schedule of 1:1 meetings with the region’s most promising life science companies, entrepreneurs, researchers and emerging companies, who are pre-selected during an application process. Since this program began in 2009, more than 100 local companies and research groups have met 1:1 with visiting VIPs, and multiple discussions are ongoing.
Five VIP Forums in 2012 featured Bristol-Myers Squibb (BMS) on January 12-13 (slides linked here), H.I.G. BioVentures on March 7-8 (slides linked here), MedImmune Ventures and MedImmune Partnering, who jointly visited on May 23-24 and whose slides are linked here and here, respectively, C.R. Bard, on August 6-7, and most recently Shire Pharmaceuticals on December 5-6.
Shire Pharmaceuticals is a leading pharmaceutical company, and is committed to helping people with life-altering diseases lead better lives. Shire’s areas of interest include CNS, gastrointestinal, and hematopoietic disorders, regenerative medicine, and orphan diseases. Shire Pharmaceuticals sent representatives from its Human Genetic Therapies, Specialty Pharmaceuticals and Regenerative Medicine divisions to Seattle for our latest VIP Forum on December 5-6, 2012. At the Plenary Session on December 5th, four business development executives explained Shire's "seek and develop" strategy of acquisition and partnership to more than 60 attendees. On December 6th,14 pre-selected WBBA companies and research groups discussed potential partnerships with visiting executives. Click here to read more about Shire's specific areas of interest, pipeline and leading products.
Next, we welcome executives from Bristol-Myers Squibb (BMS) back to Seattle on January 10-11, 2013. Bristol-Myers Squibb is a global BioPharma company focused on discovering, developing and delivering innovative medicines that help patients prevail over serious diseases such as cancer, cardiovascular disease, diabetes, hepatitis B and HIV/AIDS. Click here for more information about BMS’s visit and specific interests. Click here to register for the Plenary Session & Networking Reception on January 10th.
VIP Forums are generously supported by Cooley LLP, the Life Sciences Discovery Fund, PriceWaterhouseCoopers, and Knobbe Martens. If your organization is interested in sponsoring VIP Forums in 2013, information can be found in the WBBA’s Sponsorship Prospectus.
SERVICE PROVIDERS & CONSULTANTS - GET NOTICED BY LIFE SCIENCE COMPANIES!
Sponsor the WBBA’s Commercialization Programs
In 2012, the Commercialization Team is on target to provide consulting services to more than 90 new emerging life science companies, entrepreneurs and research groups. To date, the program has supported more than 170 life science startups as they sought advice on matters relating to company formation, intellectual property, capital sources, investor pitches, research studies and clinical trials, product design, development and manufacturing, regulatory strategy, accounting/finance, and management. Often these companies are in the very early stages of formation and development, and thus have no website or public presence.
We are offering service providers with expertise in these areas a unique opportunity to connect with these early stage companies we support. This exciting, win-win program offers service providers visibility and connection with these early stage life science companies, and at the same time, provides the startups and entrepreneurs with some crucial, initial services and information for no cost.
The Commercialization Team has created a Commercialization Resource Packet that includes a detailed Bio-Entrepreneur Startup Kit. The highlight of this kit is a Map to Financing that outlines the sources of capital available to life science startup companies, and explains the characteristics of successful fundees at each stage of fundraising. All groups that utilize our consulting program receive the Resource Packet and Kit. Your company can be featured in the Packet as a sponsor of the Consulting program. Your company one-pager will describe your area of expertise, service offerings and the offer of at least two hours of initial pro bono services.
We envision that more than 100 early stage life science companies will receive this packet, creating an instant connection to your unique services. For more information on this valuable opportunity, see the Commercialization Consulting Sponsorship, or contact Director of Commercialization Christiana DelloRusso. We’d like to thank and welcome the newest Commercialization Consulting Sponsor, the W.H. Coulter Foundation Translational Research Partnership Program within the UW’s Department of Biomedical Engineering. The Coulter Program is dedicated to improving human healthcare by supporting translational research in biomedical engineering that is progressing towards commercial development and clinical practice.
If you are a life science entrepreneur, researcher or company in need of pro bono consulting services and access to the Commercialization Resource Packet, contact us at email@example.com.
Sponsor the Commercialization Resource WIKI website: www.lifesciencestartup.com
This integrated resource for life science entrepreneurs and companies in Washington State provides prominent, year-long visibility to a multitude of audiences. And in July 2012, a new section of the wiki was launched with much fanfare! This new section covers all aspects of, and the multitude of resources available for, exporting life science products from Washington. The expanded content reflects the results of a grant project funded by the Washington State Department of Commerce in partnership with the UW Center for Commercialization and the Washington Global Health Alliance.
Sponsor the Wiki and have your company logo and link prominent on all pages of lifesciencestartup.com!
Are you forming a company, writing a business plan, or looking to raise capital? Or are you a WBBA member/consultant with years of experience commercializing medical products, writing successful SBIR grants or executing regulatory strategies? Check out lifesciencestartup.com, the WBBA-hosted wiki website full of resources and information for early-stage life science entrepreneurs AND for experts, mentors and service providers who have advice and expertise to contribute to the WA life sciences community. To suggest a new page or add content, just visit the site and create an account. And make sure to take a look at the new expanded section on Life Science Exporting!
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