Altitude Lab Secures Small Business Administration Growth Fund Accelerator Grant to Launch Horizon, a Commercialization Partnering Program
April 30 2024 - 8:00AM
Altitude Lab and the Small Business Administration (SBA) are
pleased to announce
Horizon, a commercialization
program to connect startups to distributors, biopharma partners,
and strategic investors in major biotech hubs nationwide, providing
education on deal structures while driving awareness of Altitude
Lab's resident startups. The program is funded by a Stage One grant
from the SBA, which Altitude Lab secured last week alongside 60
other top incubator and accelerator programs across the country.
"Most biotech startups require commercial partnerships to bring
their therapies and innovations to patients and customers. While
life science is the fastest-growing sector in Utah, connecting to
biopharma and global distributors remains a major hurdle. Horizon
aims to close this gap by bringing our entrepreneurs to established
biotech hubs and developing lasting relationships with national
strategic partners," said Chandana Haque, Executive Director at
Altitude Lab.
To help connect and drive Horizon forward, Altitude has formed
initial partnerships with industry leaders, including Wilson
Sonsini Goodrich (WSGR) and The Utah Innovation Fund, to support
its launch this fall.
"Altitude Lab's receipt of the Small Business Administration
Growth Fund Accelerator Grant underscores their dedication to
advancing innovation in Utah's biotech sector. It’s truly exciting
to see this award go to Altitude Lab and we eagerly anticipate the
positive impact the Horizon program will have on fostering vital
partnerships and driving progress. Congratulations to Altitude Lab
on this well-deserved achievement!" said Marla Trollan, Utah
Director of the U.S. Small Business Administration.
"The Utah Innovation Fund is unique in that it is a
state-sponsored venture fund designed to help our deep tech
entrepreneurs bridge the gap between technology feasibility and
commercial success. Horizon is a program that naturally fits our
mission, and we are thrilled to help Altitude connect Utah's
leading startups to critical partners," said Gabi Tellez, Managing
Director of the Utah Innovation Fund.
"Wilson Sonsini launched our Salt Lake City practice because
we've noted the state's huge strides in economic activity. We've
been working with Altitude to help their startups navigate
partnership agreements and IP strategy for three years. Supporting
Horizon by helping Altitude and its startup connect with our
national network is a continuation of the investment we are making
in the region," said Matt Bresnahan, Partner at Wilson Sonsini
Goodrich & Rosati.
The Horizon Program offers numerous benefits for founders,
including:
- Roadshow tours in San Francisco, Southern California, Boston,
and other leading biotech geographies offer unique opportunities to
connect innovators with commercial partners
- Reverse pitches from biopharma and distributors to explore
partnership opportunities
- Increased deal exposure, opportunities, and access to new
executive networks for mentoring
- Facilitated meetings and networking opportunities with
partners
Altitude is preparing for its first roadshows this fall and is
seeking commercial partners and entrepreneurial organizations to
host regional dinners and participate as mentors. Take the first
step towards transformative innovation in health care by joining us
on this exciting journey. Email info@altitudelab.org with your
interest in Horizon as the subject line to be included in the
initial tours.
About Altitude Lab
Altitude Lab is building a new, diverse generation of founders
to seed the next cycle of health care innovation in Utah's BioHive.
Currently located in Gateway's BioHive Hub in Salt Lake City,
Altitude Lab is an incubator focused on early-stage life science
and health care companies. The initiative is part of a larger city
plan and collaborative vision from Recursion to foster socially
responsible entrepreneurship, job creation, and economic
productivity. The Recursion Foundation, under which Altitude Lab
operates, is a 501(c)(3) nonprofit organization.
Learn more at altitudelab.org or connect on X.
About the U.S. Small Business
Administration
The U.S. Small Business Administration helps power the American
dream of business ownership. As the only go-to resource and voice
for small businesses backed by the strength of the federal
government, the SBA empowers entrepreneurs and small business
owners with the resources and support they need to start, grow,
expand their businesses, or recover from a declared disaster. It
delivers services through an extensive network of SBA field offices
and partnerships with public and private organizations. To learn
more, visit www.sba.gov.
About Recursion
Recursion is a clinical stage TechBio company leading the space
by decoding biology to industrialize drug discovery. Enabling its
mission is the Recursion OS, a platform built across diverse
technologies that continuously expands one of the world’s largest
proprietary biological, chemical and patient-centric datasets.
Recursion leverages sophisticated machine-learning algorithms to
distill from its dataset a collection of trillions of searchable
relationships across biology and chemistry unconstrained by human
bias. By commanding massive experimental scale — up to millions of
wet lab experiments weekly — and massive computational scale —
owning and operating one of the most powerful supercomputers in the
world, Recursion is uniting technology, biology, chemistry and
patient-centric data to advance the future of medicine.
Recursion is headquartered in Salt Lake City, where it is a
founding member of BioHive, the Utah life sciences industry
collective. Recursion also has offices in Toronto, Montreal and the
San Francisco Bay Area. Learn more at www.Recursion.com, or connect
on X (formerly Twitter) and LinkedIn.
Media Contact
Media@Recursion.com
Investor Contact
Investor@Recursion.com
Recursion Pharmaceuticals (NASDAQ:RXRX)
Historical Stock Chart
From Sep 2024 to Oct 2024
Recursion Pharmaceuticals (NASDAQ:RXRX)
Historical Stock Chart
From Oct 2023 to Oct 2024