“The intentional architecture and engineering of CAI’s commercialization of cancer inventions in this challenge will serve to create a new paradigm to drive positive industry disruption, economic impact, and most importantly, social impact.” – R. Truman
Bethesda, MD (PRWEB)
July 27, 2017
The Freedom from Cancer Startup Challenge has officially launched. Teams of entrepreneurs will compete to form startup companies around 117 breakthrough inventions from 55 institutions, including the National Institutes of Health (National Cancer Institute, National Heart, Lung, and Blood Institute, and National Institute of Biomedical Imaging and Bioengineering), the United States Army, and more than fifty American universities and hospitals. To identify these breakthrough inventions, CAI reviewed over 120,000 cancer-related patent applications, filed since 2005, and selected the top 1% from a total of 134 research institutions for deep dive due diligence. CAI then shortlisted the most promising 200 cancer-related inventions from a list of 400 technologies, made available for exclusive licensing by 63 research institutions that CAI engaged. From this short list, CAI and a 15-member FCSC invention selections committee cherry-picked 100+ commercially viable inventions to feature in the competition. Members of the selection committee included senior executives from MedImmune, Pfizer, and Novartis, as well as super angels, serial entrepreneurs, venture capitalists, and foundations.
The Laura and John Arnold Foundation has committed $1.2 million in funding towards the FCSC. The challenge was also launched with support from MedImmune, the global biologics research and development arm of AstraZeneca
Teams will have to create detailed business plans and…