AURORA, Colo., Sept. 14 /PRNewswire/ -- The Colorado Institute for Drug, Device and Diagnostic Development (CID4) has issued its second statewide "Call for Proposals" from Colorado life science technologies in need of funding and active management guidance.  The announcement is made by Kevin M. Smith, CID4 Executive Vice President/COO, who says, "CID4 launched in February, concurrent with our first solicitation.  The response identified many exciting technologies with significant job creation potential and has resulted in the selection of two projects to receive CID4 funding - one biopharmaceutical and one medical device. The final legal documents are in process, and we look forward to announcing the selected technologies in the very near future."

Details for responding:

• Respond electronically: http://www.cid4.com
• Final submissions due: October 15, 2010

At CID4's February launch, Colorado Governor Bill Ritter, Jr., said: "With more than 20,000 good-paying jobs in Colorado, the life sciences industry is one of our state's most important economic sectors today and it holds incredible promise for tomorrow." The Honorable Ed Tauer, Mayor of the City of Aurora and member of the CID4 Board of Directors, concurred, saying: "By helping promising technologies in need of startup assistance to become great companies, CID4 becomes our secret weapon to growing more, higher-paying Colorado jobs."

"We were very pleased with the level of response to our first solicitation and are eager to share details about the selected projects," Richard C. Duke, CID4 President & CEO, explains. "We expect to routinely conduct semi-annual solicitations."

CID4 selects technologies that have the ability to generate Colorado jobs, as well as financial returns. "We fully expect this new model will allow us to attract additional funding in the form of philanthropic contributions and targeted product investment by angel investors and venture capitalists," Smith says.

About The Colorado Institute for Drug, Device and Diagnostic Development

CID4 is transforming life science innovation into commercial success by identifying and funding potential opportunities, and utilizing the talents of an advanced leadership team to ensure ultimate market value.  Visit http://www.cid4.com.

SOURCE The Colorado Institute for Drug, Device and Diagnostic Development

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