AUSTIN – Today, the Cancer Prevention and Research Institute of Texas (CPRIT) is unveiling a new award mechanism targeting early-stage oncology startup companies. Under this program, known as the Seed Award, companies can apply for up to $3 million in nondilutive funding to support development of innovative cancer therapeutics, diagnostics or tools.
"After consulting with different players in the life-sciences industry, we believe that this new award mechanism goes even further in helping great research journey from labs to clinical trials," said Mike Lang, CPRIT Chief Product Development Officer. "CPRIT’s crucial role is to support companies with promising research cross over the ‘Valley of Death’, the early translational stages where it’s difficult to raise venture capital."
The Seed Award is designed for projects that are too early in their development to be competitive for CPRIT’s two other Product Development awards: the Texas Company Award and the Company Relocation Award. The goal of the Seed Award is to assist startups in bridging the gap between translational research and product development, thus bringing disruptive cancer-fighting technologies to market.
To qualify for up to $3 million in project funding, companies must currently be based in Texas or commit to relocate to Texas upon receipt of award. Companies interested in this award will need to apply and undergo CPRIT’s peer review process.
Seed Award Requests for Application (RFAs) for FY 2019 Cycle 1 will be released in June 2018, with applications due in August 2018. The award will be announced in February 2019. Cycle 2’s RFAs will be released December 2018, with applications due in February 2019 and award notification in August 2019. Similar schedules are planned for FY 2020 and FY 2021. Please visit our site's footer to sign up for our newsletter to receive updates on CPRIT funding opportunities.
About the Cancer Prevention and Research Institute of Texas
To date, CPRIT has awarded $1.95 billion in grants to Texas researchers, institutions and organizations. CPRIT provides funding through its academic research, prevention, and product development research programs. Programs made possible with CPRIT funding have reached Texans in all 254 counties of the state, brought more than 150 distinguished researchers to Texas, advanced scientific and clinical knowledge, and provided more than 4 million life-saving education, training, prevention, and early detection services to Texans. Learn more at cprit.texas.gov. Follow CPRIT at twitter.com/CPRITTexas and facebook.com/CPRITTexas.