BIO Partners with the Center for Advancing Innovation in the Freedom from Cancer Startup Challenge

SAN DIEGO–(BUSINESS WIRE)–The Biotechnology Innovation Organization (BIO),
the world’s largest biotech trade association, is teaming up with the
Center for Advancing Innovation (CAI) to engage the biotech community
and assist in promoting the Freedom from Cancer Startup Challenge
(FCSC), a unique initiative designed to advance and commercialize 100
cancer inventions for the prevention, detection, and treatment of cancer.

As CAI’s largest challenge to date, the FCSC has the potential to create
as many as 10,000 knowledge-based jobs through at least 100 spin-out
companies. BIO and CAI will introduce the initiative during the BIO
International Convention in San Diego (June 19-22)
, the largest
biotech conference in the world.

More than 80 percent of survival gains in cancer are attributable to new
treatments and medicines. The FCSC seeks to nurture a pipeline of
treatments that not only help patients lead longer, healthier lives, but
also positively impact society and economies.

CAI will open enrollment to teams on August 1. Teams may be accepted on
a rolling basis until December 29, the deadline for the first phase of
challenge deliverables. To enter this challenge, or to learn more about
it, visit
the FCSC website
.

The FCSC features inventions from the federal government and more than
40 universities and hospitals. Teams will enter the challenge to launch
a company around each featured invention, to engage with world-class
mentors, advisors and judges, and to learn from CAI’s virtual
accelerator program. Teams will submit business plans and pitch their
selected technologies to a multidisciplinary panel of judges from around
the world. Each winning team, as determined by the judges, will create a
company, license the invention, and pitch for seed funding. Any
entrepreneurially-minded team with a commitment to making an impact is
invited to enter through the FCSC
landing page
. CAI is also recruiting mentors, judges, and advisors
for the FCSC.

BIO’s role in this initiative will be to help galvanize the biotech
community to encourage them to participate as advisors, judges and
mentors.

Jim Greenwood, BIO’s President and CEO, said, “CAI’s track record in
launching Life Sciences startups is outstanding and the FCSC initiative
further establishes a new paradigm to kick start new cancer companies
and is a force multiplier for the oncology ecosystem. CAI’s systematic
model establishes the trifecta necessary for high performing biotech
companies – commercially viable inventions, rock star teams and funding
– to get treatments to patients faster.”

CAI’s challenge-accelerator model has created 1200 knowledge-based jobs
and launched more than 80 companies. Several of these companies have
gone on to raise additional funding to move new therapies toward
clinical trials.

Several organizations have contributed to CAI’s efforts. MedImmune, the
global biologics research and development arm of AstraZeneca, has
partnered with CAI to launch new cancer startups. The Laura and John
Arnold Foundation has committed $1.2 million in funding towards the FCSC.

According to CAI Founder and CEO, Rosemarie Truman: “CAI is poised to
positively disrupt the Life Sciences industry landscape through FCSC,
another newly launched challenge focused on veterans’ health and future
plans to commercialize thousands of high-impact technologies. In the
immediate term, our team looks forward to driving the commercialization
of cancer research into medicines that could make a significant impact
on the quality of life of cancer patients and their families, reduce the
economic burden of exorbitant cancer treatment costs, and perhaps free
the world from cancer.”

In partnership with the VA Beach Economic Development Organization a
member of VA BIO, CAI is also launching a veteran focused biotech
challenge.

About BIO

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 health care, 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 Center for Advancing Innovation

The Center for Advancing Innovation (CAI) is a global public-private
partnership, non-profit focused on creating a virtuous circle of
innovation and driving growth breakthroughs through novel, creative
paradigms and models. CAI’s mission is to accelerate and increase the
volume of research commercialization in support of high growth business
to ignite entrepreneurship, bolster the global economy, and maximize the
commercial and knowledge-based potential of promising inventions. CAI’s
award-winning challenge-based accelerator, rigorous evidence-based due
diligence, and capital-efficient lean management models serve to
hyper-accelerate “gazelle
high-performing startups for outsized investor returns. Through its
NIH-sponsored Breast
Cancer Startup Challenge
, Neuro
Startup Challenge
, and Nanotechnology
Startup Challenge in Cancer
competitions, as well as its
NASA-supported SPACE
RACE
startup challenge, CAI has launched 58 startups and trained
more than 2000 entrepreneurs. For additional information about CAI,
please visit The
Center For Advancing Innovation
.

Upcoming BIO Events

BIO World Congress on Industrial Biotechnology
Montréal,
Canada
July 23-26, 2017

BIO Patient and Health Advocacy Summit
The Mayflower Hotel,
Washington, DC
October 2-3, 2017

BIO Investor Forum
San Francisco
October 17-18, 2017

Contacts

Biotechnology Innovation Organization
Theresa Brady,
202-997-9034
tbrady@bio.org
Web:
www.bio.org
Blog:
www.biotech-now.org
Twitter:
@IAmBiotech
or
The
Center for Advancing Innovation, Inc:

Jonathan Lui, +1
972-740-3615
Jonathan@thecenterforadvancinginnovation.org
Web: http://www.thecenterforadvancinginnovation.org/