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QB3-Industry Biotech Startup Partnership Funds Two Projects
Date:4/20/2012

space in the QB3 incubator system (the QB3 Garage/Innovation Network) for spinoff companies arising from the projects.

The nine projects funded by QB3's Bridging-the-Gap program to date have resulted in five new companies and three licenses to existing firms. The five companies formed in the past two years have raised over $9 million in private and public commercial funding.

In the 2012 Bridging-the-Gap award cycle, the Rogers Foundation has also funded three new projects.

QB3 is a cooperative effort among private industry and more than 220 scientists at UCSF, UC Berkeley and UC Santa Cruz. QB3 has a joint mission of supporting science, driving the California economy and transforming scientific research into public good. Fundamental to the latter two missions are QB3's efforts to commercialize University of California science by creating mutually beneficial partnerships with industry and supporting innovative entrepreneurs. The effort has led to 60 bioscience startup companies in the QB3 Garage/Innovation Network, which have raised $225 million and created more than 280 jobs. QB3 also operates Mission Bay Capital, an $11.3M seed-stage venture capital fund designed to help UC entrepreneurs create successful startups. Please visit www.qb3.org.

UCSF is a leading university dedicated to promoting health worldwide through advanced biomedical research, graduate-level education in the life sciences and health professions, and excellence in patient care. Please visit www.ucsf.edu.

For more information on the Johnson & Johnson Corporate Office of Science and Technology (COSAT), visit www.jnjcosat.com/cosat.


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