Each REACH site will help to translate promising biomedical technologies to the private sector by performing feasibility studies, technical evaluations, and market research, as well as establishing business partnerships.
Flexibility is critical. Each hub must have access to expertise in business plan development, market research, intellectual property protection, regulatory and reimbursement processes, project management, and clinical studies. Your hub will support projects that range from laboratory-based technology validation studies to early phase clinical testing. Then, using a milestone-driven approach, your hub will transition technologies to strategic partners for commercialization
NIH plans to fund up to three U01 cooperative agreements, for a maximum period of three years and a maximum annual budget of $1 million in total costs. The expectation is that each hub will also find nonfederal funding and become self-sustaining by leveraging support from partnering institutions and revenue from sources such as licensing, milestone payments, and royalties.
Each Hub will assemble diverse experts in translational and proof of concept research who have the knowledge required to identify and develop promising early stage technologies in order to accelerate their translation into commercial technologies to enhance human health. Each Hub will focus on research projects that have progressed to a point where a potential commercial product can be envisioned, but additional research and development efforts are required to define the product (demonstrate feasibility and proof-of-concept). Through a combination of in-house efforts and collaboration, each Hub funded under this FOA will perform functions to specifically address the critical knowledge and funding gaps that hinder the early steps needed to turn novel discoveries into technologies for biomedical advancement and patient care. Each Hub will:
- Be governed by leadership experienced in translating biomedical technologies from research performing institutions to the commercial market.
- Develop the necessary collaborations and partnerships to meet the goals of this FOA.
- Provide infrastructure for soliciting and selecting the most promising technologies predicated on medical need, scientific merit, and commercial potential.
- Provide the funding, resources and expertise required for early stage technology development.
- Develop and implement market-focused project management oversight and decision making processes.
- Provide innovators with skills development, hands-on entrepreneurial experience, educational and networking activities with linkages to local or virtual resources.
- Implement a plan for transitioning to a self-sustaining structure.
Internal deadline for application package submission is no later than 5:00 p.m. on June 6, 2014. Please attach NIH biosketch, and completed package PDF document to an email. Materials should be submitted to Dr. Suzanne Rivera at firstname.lastname@example.org. See the program announcement for additional application details.
Final nominees will be notified of their selection by June 9, 2014.
Final proposal due in the Office of Research Administration by June 19, 2014.
Funding agency deadline is June 26, 2014.