IndieBio Announces Coronavirus Initiative
Millions in funding available now for startups with radical life sciences innovation
-- Open Call for COVID-19 Applications --
SAN FRANCISCO, March 24, 2020 /PRNewswire/ -- IndieBio, the world's most active investor in early stage life science startups, announces an immediate call for COVID-19 related applications. Up to 8 startups will receive a minimum of $250,000 each to pursue the development of diagnostics, therapeutics, vaccines, disinfection, and other solutions addressing the worldwide problem of emerging infectious diseases.
"The coronavirus pandemic is a wake-up call," said Po Bronson, Partner at IndieBio SF. "Our healthcare system has long under-invested in solutions for a pandemic, even though every expert has predicted we were at ever-increasing risk of one. There are so many new tools and approaches developed in biotech that can be applied here."
Applications are currently being screened for an anticipated May 4th, 2020 start date, both at the flagship San Francisco location and a brand new New York facility based at Rockefeller University.
IndieBio provides startups with capital, world-class mentors, and fully equipped labs. Even during this time of "stay-at-home" lockdowns, SOSV's labs have remained open as "essential businesses" for COVID-19 abatement and development. Co-founders and workers can also choose to attend the accelerator via teleconferencing, and access to facilities will vary as necessary to comply with government regulations.
SOSV staff include faculty with PhDs & MDs specialties in infectious diseases, microbiology, drug development, and regulatory approval processes. In addition, there is a wide range of business development expertise necessary to take a product from bench to market.
"IndieBio recognizes we have a responsibility to act fast to enable new solutions to combating infectious diseases," said Stephen Chambers, Ph.D., Managing Director at IndieBio NY. "There is a lot of justifiable fear out there right now. But these are solvable problems. And now is the time to solve them."
For details on the call for applications, please visit https://indiebio.co/indiebio-covid-response/.
Over a dozen SOSV startups already on the front lines of the COVID-19 response can be found here: https://sosv.com/covid-startups.
About IndieBio IndieBio enables scientists to become entrepreneurs and build breakthrough companies to solve the world's biggest challenges through biology as a technology. IndieBio drives innovation to improve human and planetary health. To date, 116 biotech companies have been through the program, creating a combined valuation of over $2.4 billion.
About SOSV SOSV manages over $700 million with a portfolio of over 950 deep-tech startups. SOSV created the world's first life sciences accelerator in 2014, and in the past six years has backed 200 life science startups. The 950 startups in SOSV's portfolio have a combined valuation of over $15 billion.
SOURCE SOSV
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