"OnPAR presents another avenue to fund important biomedical research," said Jim Pannucci, Leidos Director, Life Sciences. "The program will revolutionize the scientific funding environment and foster more discoveries at a faster pace to benefit and improve global health."
Research projects will be considered and funded by OnPAR funding organization members based on their specific research priority areas and requirements. For the pilot project, funding organization members include the Adenoid Cystic Carcinoma Research Foundation, the Breast Cancer Research Foundation, the Children's Tumor Foundation, the JDRF, the Melanoma Research Alliance, the National Alopecia Areata Foundation, and the Parent Project Muscular Distropy. These foundations were selected to span different disease areas and varied foundation sizes.
As the program progresses, OnPAR is planning on increasing its membership to include additional foundations, pharmaceutical companies, and other life sciences funding organizations across varied disease areas. In addition, Leidos foresees expanding the program globally to present an alternative option to the traditional government grant mechanisms.
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health and engineering. The Company's 18,000 employees support vital missions for government and the commercial sector, develop innovative solutions to drive better outcomes and defend our digital and physical infrastructure from 'new world' threats. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $5.09 billion for the twelve months ended January 1, 2016. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 1, 2016, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
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