NC Biotechnology Center Awards $2.8 Million in Grants and Loans for Bioscience Research

The North Carolina Biotechnology Center has awarded over $2.7 million in grants and loans to support bioscience research, technology commercialization, and entrepreneurship in the state.

Why It Matters:

The funding provided by the North Carolina Biotechnology Center will help universities, life sciences companies, and non-profit organizations advance their research and attract additional funding. This investment in bioscience research is significant for the growth and development of the industry in North Carolina.

The Details:

• Four life sciences companies received loans totaling $1.25 million to advance their research and product development efforts.

• Seventeen companies previously funded by the Biotechnology Center raised $44.7 million in follow-on funding.

• Seven universities were awarded 19 grants totaling $1,443,323 to support bioscience research.

• Translational Research Grants were awarded to fund projects exploring potential commercial applications or early commercial development of university-held life sciences inventions.

• Biotechnology Event Sponsorships were provided to support life sciences-focused events in North Carolina.

• Biotechnology Meeting Grants were awarded to support national and international life sciences-focused meetings held in North Carolina.

Conclusion:

The North Carolina Biotechnology Center's grants and loans support vital bioscience research, technology commercialization, and entrepreneurship in the state, driving innovation and economic growth in the industry.