Let the games begin! Below is a link to the PharmTech Talk blog which itself provides links to goverment sites spelling out the guidelines for obtaining monies under the $1 B Therapeutic Discovery program.
Here we go with the highlights:
- The program is NOT first come first serve. Applicants must get their information in betwwen June 21st and July 21st. The application is relatively simple and streamlined.
- Separate applications must be made for each project for which a company is seeking money.
- Preliminary reviews of applications will occur by Septemeber 30th.
- Initial credits or grants (for years 2009-2010) will be awarded by October 29, 2010.
- All decisions are final. There is no appeal on whether or not you receive an award or any dickering about its size.
- There is a $5 M maximum award sixe per company, assuming a compnay can show it has $10 M worth of qualifying costs (50% match).
- The government will award a maximum of $1 B (at least that is story for now).
The goverment expects there to be 1200 applications filed. BIO spokesperson, Ellen Dadisman said, "We expect the program to be heavily oversubscribed. I think that's an indication of its popularity and necessity."
Posted by Bruce Lehr May 25th 2010.