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The ingredients and recipe for successful commercialization
Have an idea, product or technology you’d like to commercialize? Phase 1 Ventures may be the recipe for your success! Phase 1 Ventures (P1V) puts together the right ingredients to help you launch a new business or grow your recently formed company.
P1V works with “long-horizon” intellectual property including pharmaceuticals, biotech, healthcare, medtech, materials and energy. The program leverages the Science Center’s network of experienced entrepreneurs along with corporate and product-development professionals to strategically contribute expertise to your commercialization process.
P1V will contribute up to $450,000 of direct financing and help you obtain public and private funding. We’ll also provide lab and office space at the Science Center, and research collaboration opportunities as needed.
Phase 1 Ventures is supported by the U.S. Economic Development Administration.
Startups that are commercializing technologies at academic or government institutions, at large corporations, or in the founder’s garage are all eligible to apply. P1V can provide the first level of support to a company and will work with participants to refine their growth strategy.
To be considered for support, the inventor or company must have secured (or be in the process of securing) the rights to develop and commercialize any critical intellectual property. Your technology must also address an unmet need.
If you wish to be considered, contact us to receive a non-confidential “expression of interest” form.
Since it launched in 2015, P1V has enrolled and assembled 12 teams developing products in drug development, gene therapy, diagnostics, biomaterials, machine learning, and energy. Technologies have come from institutions throughout the region, including Drexel University, Lehigh University, Rutgers, Temple University, Thomas Jefferson University and the University of Pennsylvania.
The following companies have secured Phase 1 Ventures funding:
BioSignal Analytics is dedicated to improving the quality of healthcare through the use of automated interpretation technology based on state of the art machine learning algorithms. The company leverages big data resources to train sophisticated models capable of self-organizing unstructured data and discovering underlying structure.
PolyCore Therapeutics is developing a drug to better manage Parkinson’s disease and other neurodegenerative disorders, by targeting a unique nerve cell receptor. The technology has been licensed from Rutgers, the State University of New Jersey, and Drexel University where its development has been supported with funding from the Coulter Foundation.
Spirovant is developing a gene therapy for cystic fibrosis (CF), the first curative treatment for this disease. CF is an autosomal recessive disease primarily characterized by progressive airway infection and inflammation, and, in the majority of individuals, death from respiratory failure.
Quantitative Radiological Solutions is developing a tool that will help physicians make better treatment decisions from medical images used in radiology, oncology, and surgery. QRS was launched from the University of Pennsylvania’s UpStart Program, and has small business funding from the National Institutes of Health and the National Science Foundation.