Nonprofit with $14m Funds the Commercialization of Life Science Start-ups

Sarai Tsai | February 2, 2010  -  Leave a Comment

This morning Punxsutawney Phil, possibly the world’s most famous rodent, saw his shadow and predicted 6 more weeks of winter. Now if that wasn’t enough to make you think twice about moving to a warm climate, here’s another – Catapult BioAccel.

Catapult BioAccel is an Arizona-based nonprofit founded in 2009. While basic research has funding opportunities, BioAccel wants to make funding accessible for commercialization activities that make new scientific products attractive to investors. Through funding, mentorship, scholarships, and other programs, BioAccel accelerates new life science ideas and transfers them into commercial products and viable business ventures. Technologies in diagnostics, therapeutics, devices, tools and services are the focus.

By bridging the funding gap between discovery and development, BioAccel hopes to promote economic development in Arizona and bring innovative technologies to market faster and more efficiently.

Learn about a funding recipient and if you qualify after the break.

For example, in October 2009, BioAccel announced a $200,000 grant for product development validation to early stage firm Kemeta LLC, a firm developing a palm-size breath acetone analyzer that measures fat metabolism in a single breath. Kemeta plans to sell the product in both consumer health and medical markets in 2010.

“The funding from Catapult BioAccel is pivotal for us in terms of obtaining the data necessary to validate product-use claims in advance of submittal to the FDA for approval, a critical stage in the commercialization process,” said Dr. Joan Vrtis, CEO, president and founder of Kemeta.

Eligibility for the BioAccel Commercialization Programs is limited to Life Sciences companies currently within Arizona (or are willing to move to Arizona). Grants of up to $300k typically require less than a year to demonstrate commercial potential. Check out these questions to determine if your firm may qualify.