WASHINGTON--(BUSINESS WIRE)--The Biotechnology Innovation Organization (BIO) and the National Institutes of Health (NIH) today 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.
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BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.
About the National Institutes of Health Small Business Programs
The National Institutes of Health (NIH) Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs (https://sbir.nih.gov/) are one of the largest sources of early-stage capital for biomedical technology commercialization in the United States. In Fiscal Year 2019, these programs will invest over 1.1 billion dollars into health and life science companies that are creating innovative technologies that align with NIH’s mission to improve health and save lives.
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