Virtici Receives $3.5 Accelerator Hub Award from the National Institutes of Health

Virtici announced today that it has received a three-year, $3.5 million award from the National Institutes of Health (NIH) to support an Institutional Development Award (IDeA) Center of Biomedical Research Excellence.

Virtici has been selected to create and operate a Regional Technology Transfer Accelerator Hub in the Western region (the ASCEND Accelerator Hub: NM, AK, ID, HI, MT, NV and WY). This hub will actively collaborate with eleven leading research institutions in the Western region and the other three Hubs in Central, Southeast, and Northeast regions.

“It is exciting to be selected by the NIH to lead this important initiative in the Western region,” said Neil Fanger, Ph.D., cofounder and CEO of Virtici. “We look forward to working on this with University of New Mexico and other research institutions in the Western region.”

“The goal is to educate faculty within the various institutions on how to commercialize their research, including startup funding and finding business partners,” said the CTSC’s Eric Prossnitz, PhD, who will serve as UNM’s principal investigator.

“This is a significant opportunity for small businesses, academia, and the federal government to partner in two critical areas: boosting high-tech innovation and tackling biomedical research needs,” said NIGMS Director Jon R. Lorsch, Ph.D. 

The goal of the ASCEND Accelerator Hub is to bridge the gap between NIH funded research and improved patient outcomes by increasing the number of medical entrepreneurs and their level of competency. In this vein, the Hub aims to provide the knowledge, skills and training necessary for innovators to become successful entrepreneurs. With the end result of reducing morbidity and mortality nationwide, the program and its initiatives are unique, and have the potential for significant economic and clinical impact.

This award was granted by the National Institute of General Medical Sciences of the National Institutes of Health under Award Number UT2GM130166. The content of this press release is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health.

About Virtici 
Virtici is a privately held product-development company headquartered in Seattle, Washington. Virtici’s mission is to improve quality of life and save lives and is primarily developing products to improve the way we treat cancer, autoimmunity, and cardiovascular diseases. Virtici, working closely with our affiliates Celdara Medical and MBV, partners with inventors and their research institutions, bringing the business and finance expertise to accelerate product development. Working with its partners in the pharmaceutical industry, Daiichi Sankyo and Grunenthal Group, Virtici connects the entire product development lifecycle by improving innovation, enhancing discovery and increasing product development efficiencies. For more information about Virtici, please visit www.virtici.com.

About the National Institutes of Health (NIH) 
NIH, the nation's medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.