An emerging drug therapy that meets Pii’s requirements could be eligible for a $100,000 credit applied to work performed by Pii at its Hunt Valley, MD campus. That means Pii will deduct $100,000 from the cost of their work.
According to a survey of biotech companies by Biocentury and investment management firm Sanford C. Bernstein, most emerging biopharma companies do not have the required funding on hand to advance their therapeutic projects. As a result, many scale back their plans, reducing their valuations.
Lack of funding doesn’t just end the life of a project. Each of these projects represents a therapy in development, a promising treatment, or even a cure, for a group of patients suffering from a disease or illness. For these patients, lack of funding represents lost hope, which is why Pii is introducing this grant.
“If you are an organization with an early-stage drug therapy showing promise, but you are facing a funding gap and need help in getting it to Phase I, we invite you to visit our application page,” the company said in a statement.
Pii’s capabilities can support:
- Biologics and Vaccine fill-finish for Clinical Trial Manufacturing (CTM), as well as, formulation & process development.
- Projects for COVID-19 treatments and vaccines in clinical development.
- New Chemical Entities (NCE) and New Biological Entities (NBE) requiring formulation and process development, as well as, CTM.
- Clinical Trial Supplies for small molecules, biologics and vaccines.
The deadline for applications is August 31st, 2020 and the grant will be awarded to one promising drug-therapy candidate on September 18th, 2020.