09 May 2019 | News
SBIR-funded companies will showcase biotechnology breakthroughs at BIO 2019 International Convention
The Biotechnology Innovation Organization (BIO) and the National Institutes of Health (NIH) have announced an agreement to feature Small Business Innovation Research (SBIR)-funded early-stage biomedical companies in an Innovation Zone at the 2019 BIO International Convention. The Innovation Zone companies, focused on drug discovery, diagnostics and other therapeutic platform technologies, will have dedicated exhibit space and participate in BIO’s One-on-One Partnering system. Select companies will make 15-minute company presentations in the BIO Business Forum.
“The theme for this year’s Convention sets a perfect tone for the Innovation Zone: It Starts with One. One idea, one vision, one sleepless night – that’s how breakthrough medicines and technologies are first imagined, and that’s why our partnership with NIH to sponsor companies focused on early stage R&D is so important,” said BIO’s President and CEO, Jim Greenwood. “Joining us this year will be 80 SBIR-funded companies, all of which have the potential to produce cutting-edge technologies that could change the way we manage the world’s most devastating diseases. I look forward to learning from these emerging biotech innovators and helping them commercialize their potentially game-changing technologies.”
The SBIR program provides U.S. federal funding to small businesses engaged in research and development with the potential for commercialization. Companies are rigorously vetted through the NIH SBIR peer review process prior to receiving the funding.
“NIH strongly believes in supporting innovative and breakthrough life science technology development through the SBIR program. The BIO International Convention continues to be an ideal place to highlight our companies. The SBIR companies showcased in this year's ‘Innovation Zone’ show some of the most promising technologies in our portfolio that we hope will achieve commercial success and significantly advance and improve human health. In order to achieve these goals, these companies require critical partnerships and capital. I encourage attendees to meet with our companies and explore the featured exhibitors and presentations," said Dr. Matthew Portnoy, NIH SBIR/STTR program manager.
The majority of participating companies in the BIO Innovation Zone have received SBIR Phase II awards, which provide $1 million+ dollars or more in funding to engage in R&D that has the potential for commercialization.