NEWS RELEASE
Contact:
Jeff Cohen, Denmark Public Relations, (voice) 412-417-5984
Charlotte Rapkin, Pittsburgh Life Sciences Greenhouse, (voice) 412-765-0288
Pittsburgh Life Sciences Greenhouse Launches University Development Fund and Industry / University Collaborative Research Fund
Pittsburgh, July 11, 2002 The Pittsburgh Life Sciences Greenhouse (PLSG) an economic development initiative created to put Western Pennsylvanias life sciences industry on a fast track for growth today announced it has created two new funding programs to accelerate the creation and growth of Life Sciences companies in the region.
The first, the University Development Fund (UDF), is a competitive funding program designed to accelerate the technical proof of concept and assessment of commercial viability of early stage life science technologies that are developed by the region's research universities. The second, the Industry / University Collaborative Research Fund (IUCRF), is a matching funds program to support collaborative projects between the region's academic researchers and the region's private sector. These programs have been designed with the input and advice of the regions technology transfer offices, local industry, researchers, and entrepreneurs.
"To implement the programs, PLSG is working with three of the regions premier organizations with experience in translating technologies from the lab to actual practice -- the Limbach Center of the University of Pittsburgh Cancer Institute, MERITS of Pittsburgh, and the Pittsburgh Tissue Engineering Initiative through the development of early-stage life science technologies, said Cinda Herndon-King, Ph.D., Vice President and Chief Technology Officer of the PLSG.
The University Development Fund and the Industry / University Collaborative Research Fund are each designed to help bridge the gap between discovery research and commercialization to accelerate the development of the regions Life Sciences industry. PLSG is eager to work with our partners, the Limbach Center, MERITS and PTEI, to help identify and nurture the most promising technologies being developed in our regions research labs.
University Development Fund
The UDF is designed to provide financial support to develop key technical or commercial data or reach development milestones that will accelerate and increase the likelihood that the technology may be commercially developed through the formation of a new Life Sciences company.
Examples of activities that are envisioned under the UDF program include:
Construction and testing of a prototype
In vitro or preliminary in vivo testing
Side by side comparison of new technologies with known approaches
Development of a competitive market or technical assessment
The primary consideration for funding is the probability of creating a positive local economic impact.
Proposals must be submitted by an institution of higher education within the thirteen county southwestern Pennsylvania region, and the Principal Investigator must have an appointment at the submitting institution.
Industry / University Collaborative Research Fund
The IUCRF will support research and development projects within the regions research institutions that are conducted collaboratively with local life science firms. The IUCRF will focus on projects that have a strong research or development component relevant to the sponsoring companys business interests and commercialization capabilities. IUCRF-funded projects must involve at a minimum, a principal investigator from a research institution in the southwestern Pennsylvania region, and one private sector participant.
Funding priority for both the IUCRF and UDF will be given to projects that fall within the PLSG's four areas of technical focus Drug Discovery Tools and Targets; Tissue / Organ Engineering and Regenerative Medicine; Medical Devices and Diagnostics; and, Therapeutic Strategies for Neurological and Psychiatric Disorders.
More information about the IUCRF, UDF, eligibility requirements and application procedures is available via http://www.pittsburghlifesciences.com/. All applications for both funds must be received by August 23, 2002.
About the Pittsburgh Life Sciences Greenhouse
The Pittsburgh Life Sciences Greenhouse (PLSG) is a strategic economic development initiative. Our goal is to grow Western Pennsylvanias region to become a premier national and international center for the Life Sciences. It is a collaborative effort including key government, university, industry and economic development organizations that will result in a critical mass of bioscience companies, jobs and research infrastructure. The PLSG initiative is being built on a powerful base of advanced research and healthcare capabilities led by the University of Pittsburgh, Carnegie Mellon University and the UPMC Health System.
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