NEW YORK (GenomeWeb News) – Small, early-stage companies focused on developing cancer imaging technologies or cancer therapies that have received Phase II funding from the National Cancer Institute’s Small Business Innovation Research program will have access to greater funding from NCI in 2009.
The NCI Small Business Innovation Research Bridge Award program “more than triples” the amount of funding small businesses can seek through the NCI SBIR program, NCI said today.
NCI expects the SBIR Bridge Award program to run for a three- to five-year pilot phase, and it will be funded with $10 million in fiscal 2009 and in each of the subsequent years. Under the Bridge Award, small businesses may apply for up to $3 million over three years.
The aim of the program is to help companies get through a “critical phase of development” and to reduce the risk investors face.
NCI also expects the Bridge Award amounts to be matched by non-federal funds.
More information can be found at the NCI’s website.