NorthEast BioLab Launches Strategic Investment Program
The investment program will help early-stage biotech startups mitigate the financial burden of R&D initiatives to drive traction, fund essential resources, and scale their business in sequential steps.
New Haven, CT – NorthEast BioLab LLC, a bioanalysis service provider for small and large molecule drug discovery, preclinical, and clinical studies, is pleased to announce the launch of a unique investment program that expands access to in-house bioanalytical expertise as well as a vast array of laboratory services across all major therapeutic areas. The program’s objective is to build a strong working relationship and complete understanding of the underlying science with partnering early-stage biotech to ensure their molecules rapidly advance through the drug development continuum.
As part of the program, NorthEast BioLab will help fund Proof of Concept (POC) studies and immediate bioanalytical requirements for participants. All bioanalytical support would be priced competitively at the market rate before a 50% discount in exchange for equity. Program participants will gain a strategic partner with an extended team of bioanalysis experts who have delivered more than 500 studies and completed more than 300 bioanalytical methods. Moreover, some companies may qualify for cash investment and matching grants based on specific criteria such as POC data, FDA feedback, affiliate approval, and growth potential.
Vipin Agarwal, Ph.D., President and CEO, NorthEast BioLab said, “During a global pandemic, we feel that it is more important than ever to extend a hand to our peers to ensure that essential innovation reaches those who remain vulnerable with unmet medical needs. We are thrilled to announce this unique program to the life sciences community, where we have built our business and operations over the last seventeen years. With more than 50 active projects, ten approved drugs, and experience across all major therapeutic areas, including oncology, this unique partnering model leverages our successful track record. The program is aimed at supporting biotech startups with the necessary resources and financial confidence to focus on innovation,” He added, “We provide compelling drug discovery and development solutions to the biotech community in Connecticut, Cambridge, MA, and rest of the US to expedite their drug development.”