NorthEast BioLab Launches Strategic Investment Program for Preclinical-Stage Biotech Aimed at Accelerating Innovation
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.
HAMDEN, Conn., July 28, 2020 /PRNewswire-PRWeb/ -- 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) PK studies and immediate biomarker testing 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."
About NorthEast BioLab
NorthEast BioLab LLC, based in New Haven, CT, is an independent bioanalytical service provider with over 15 years of experience performing small and large molecule bioanalytical services for clinical, preclinical, and drug discovery studies. The company has an excellent track record of advancing PK, BA/BE, TK, immunogenicity, biomarker, and custom assays. Services include method development and validation using LC-MS/MS, ELISA, MSD, Luminex, Western Blot, and qPCR, among other technologies. NorthEast BioLab is GLP/GCLP compliant, FDA audited, and DEA and CT State Schedule II-IV approved. Clients span the top ten Pharmaceutical companies and emerging Connecticut and Cambridge, MA biotech. The NorthEast BioLab team has successfully supported numerous preclinical and clinical studies and continues to partner with several leading research and academic institutions across the nation.
For more information about the investment program, please contact:
Abhay Pandey, MBA
VP, Business Development
NorthEast BioLab
925 Sherman Avenue
Hamden, CT 06514
T: (203) 361 3780
E: [email protected]
SOURCE NorthEast BioLab
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