NIH Endurance Financing stimulates the new Biotechnology Fund

Earlier this month, the Trump administration directed the National Health Institutes (NIH) to impose borders on Specific types of financing It provides research institutions.

Although his federal judge has It was temporarily banned Chris Gibson, co -founder and CEO of Recursion, a vital company that uses Amnesty International to discover drugs, said policy change and government grants to emerging companies in the field of early biotechnology, still could face delays or eliminate them completely.

David Beers, Gibson, along with a businessman in the field of biological technology, said that confusion is an opportunity to launch the pre -seed project fund, called the pre -seed laboratory fund, which will seek to invest $ 100,000 to $ 250,000 in 10 to 15 A vital company.

Gibson said that startups that were eligible to obtain granting research research research (SBIR) from the National Health Institutes is invited to apply to the fund. The fund will be managed by Littude Lab, which is the SALT Lake City, non -profit, and life sciences, which was established five years ago.

Gibson said: “Sbir grants are close and dear to my heart,” Gibson said. “The first thing I did when we started an infection was writing a SBIR grant, and we got $ 1.46 million from the federal government.”

Gibson said the 2014 funding helped to create his data set, which formed the basis of the algorithm and the drug discovery platform. Since then, the company has collected multiple rounds of investment capital from investors such as Lux Capital, Menlo Ventures and Felicis, and it came out in 2021. The current market value of Recursion is 4 billion dollars.

Gibson said he hoped the fund “fills the gap” for new biotechnology during this period of uncertainty about financing the national health institutes.

“Early science is fraught with risks. Gibson said:” It is difficult to know how these companies will turn, but companies funded by SBIR are likely to be able to raise private funds. “

The Fund will also help develop the ecosystem of biotechnology next to the lukear. Political companies will receive 12 months of library space and laboratories in Littude Labs facilities.

“We are creating our small Cambridge on the streets of Salt Lake City,” Gibson said.