The Colorado Institute for Drug, Device and Diagnostic Development Announces Second Statewide "Call for Proposals" From Life Science Technologies In Need of Funding and Active Management

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The Colorado Institute for Drug, Device and Diagnostic Development (CID4) has issued its second statewide "Call for Proposals" from Colorado life science technologies in need of funding and active management. CID4 is a private, not-for-profit entity, formed in 2009 to bridge the gap between basic research and successful product commercialization, thereby creating more Colorado jobs in the life science industry. Deadline for response to CID4's second proposal solicitation: October 15, 2010.

The Colorado Institute for Drug, Device and Diagnostic Development (CID4) has issued its second statewide "Call for Proposals" from Colorado life science technologies in need of funding and active management guidance. The announcement is made by Kevin M. Smith, CID4 Executive Vice President/COO and spokesperson, who says, "CID4 officially launched in February of this year, concurrent with the rollout of our first solicitation. The response to our first solicitation identified many exciting technologies with significant job creation potential and has resulted in the selection of two projects to receive CID4 funding - one biopharmaceutical and one medical device. The final legal documents are in process and we look forward to announcing the selected technologies in the very near future."

Details for responding to CID4's second proposal solicitation:

CID4 is a private, not-for-profit entity, formed in 2009 to bridge the gap between basic research and successful product commercialization, thereby creating more Colorado jobs in the life science industry. The Institute's mission is to advance the life science industry in Colorado through active management guidance and funding of projects, resulting in the creation of new companies and new jobs.

At CID4's launch in February, Colorado Governor Bill Ritter, Jr., said: "With more than 20,000 good-paying jobs in Colorado, the life sciences industry is one of our state's most important economic sectors today and it holds incredible promise for tomorrow." The Honorable Ed Tauer, Mayor of the City of Aurora and member of the CID4 Board of Directors, concurred, saying: "By helping promising technologies in need of startup assistance to become great companies, CID4 becomes our secret weapon to growing more, higher-paying Colorado jobs."

CID4 was formed through the collaborative efforts of all sectors of the Colorado Life Science community as reflected in the composition of its Board of Directors: David N. Allen, Ph.D. - Associate Vice President for Technology Transfer University of Colorado; Denise Brown - Principal, DM Brown LLC and Former Executive Director of the Colorado BioScience Association; Ralph (Chris) Christoffersen, Ph.D. - Partner , Morgenthaler Ventures; Richard C. Duke, Ph.D - President & CEO , CID4; Terry Opgenorth, Ph.D. - COO NeoTREX®, CSU Ventures, Inc.; Kevin M. Smith - Executive Vice President & COO, CID4; and The Honorable Edward J. Tauer - Mayor, City of Aurora & Chair of the Fitzsimons Redevelopment Authority.

"We were very pleased with the level of response to our first solicitation and are eager to share details about the selected projects. To maintain our momentum we need additional technologies to evaluate, hence the second solicitation at hand," Richard C. Duke, CID4 President & CEO, explains. " We expect to routinely conduct semi-annual solicitations for new technologies. The resulting selection process will be rigorous, with only three or four technologies selected each year."

CID4 selects technologies that have the ability to generate Colorado jobs, as well as financial returns. "We fully expect this new model will allow us to attract additional funding in the form of philanthropic contributions and targeted product investment by angel investors and venture capitalists," Smith says.

The need for CID4 was initially outlined in the 'Colorado Bioscience Roadmap 2008,' a study compiled by the national Battelle Technology Partnership Practice for the State of Colorado and its bioscience industry partners. A copy of the study is found at: http://www.cobioscience.com/stateplan08.pdf

About The Colorado Institute for Drug, Device and Diagnostic Development :
CID4 is transforming life science innovation into commercial success by identifying and funding potential opportunities, and utilizing the talents of an advanced leadership team to ensure ultimate market value. By actively promoting the real world application of cutting edge research, CID4 is a leader in the formation of new companies and the creation of high-paying jobs. For more information, visit http://www.cid4.com

Also find CID4 at these social media sites:
News Feed Blog: http://cid4.blogspot.com
Facebook Fan Page: http://www.facebook.com/pages/Aurora-CO/CID4/140635632624462
Twitter: http://twitter.com/CID4Colorado
You Tube: youtube.com/cid4colorado
LinkedIn Company Page: http://www.linkedin.com/companies/colorado-institute-for-drug-device-and-diagnostic-development?trk=copro_tab

Contacts:
Kevin M. Smith, Executive Vice President & COO, The Colorado Institute for Drug, Device and Diagnostic Development - 720-859-4043

Maggie Chamberlin Holben, APR, Absolutely PR - http://www.absolutelypr.com - 303-984-9801 or 303-669-3558

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