VIB and Johnson & Johnson set up a new Fund to identify projects with potential for commercialization

25-Oct-2006

VIB, the Flanders Interuniversity Institute for biotechnology, Johnson & Johnson's Corporate Office of Science and Technology (COSAT) and Johnson & Johnson Pharmaceutical Research and Development (J&J PRD) have established a first Proof-of-Concept Fund at the value of 500,000 EUR. The primary goal of the Fund is to foster VIB proof-of-concept research. The Fund focuses on collaborations between different VIB departments and has to validate frontline inventions in Life Sciences research at VIB.

The further purpose of this program is to identify research with potential for commercialization. Projects should be at a developmental stage at which carefully designed studies are likely to provide proof of concept. According to VIB, this project is unique in Europe, it is the first time that such a fund has been supported by COSAT and J&J PRD at a European University or Academic Institution. The aim of this fund, is to sow the seeds of (a) larger collaboration(s) with J&J and to stimulate interactions between researchers of J&J PRD and COSAT on the one hand and VIB on the other hand.

The projects are pre-screened by a VIB committee and the final selection will be done by COSAT and J&J PRD team. Four projects will be selected on the basis of several criteria (most important criteria are: scientific relevance of research topic, excellence of the proposed research, commercial potential and added value of interdepartmental collaboration).

Each winning project receives 125,000 EUR, which is sufficient to pay one post doctoral researcher and his bench fee for one year. In this manner one hopes to sow the seeds for larger collaborations between VIB and J&J.

https://www.bionity.com/en/news/58887/vib-and-johnson-johnson-set-up-a-new-fund-to-identify-projects-with-potential-for-commercialization.html