BioAdvance - About BioAdvance

"Protez Pharmaceuticals is an outstanding example of the importance of access to funding from Commonwealth-supported organizations such as BioAdvance, which has been a driving force in our growth and success. Protez received seed-stage funding from BioAdvance, and early-stage funding from BioAdvance Ventures. These early-stage investments were critical in our ability to reach company milestones, attract and hire personnel, and attract more than $20 million to date in additional capital to the region. "

Christopher Cashman
President and Chief Executive Officer
Protez Pharmaceuticals
Malvern, PA

About BioAdvance

BioAdvance was founded as part of a $2 billion initiative by the Commonwealth of Pennsylvania to strengthen its commitment to the life sciences. BioAdvance was established in 2002 when awarded $33.8 million from the Commonwealth of Pennsylvania's share of tobacco settlement monies to grow the life sciences industry in Southeastern Pennsylvania. Our mission is to accelerate the growth of the region's life sciences industry by transforming its strengths in biomedical research into commercial opportunities.

Fulfilling this mission, BioAdvance is:

Investing in emerging life sciences technologies with the most promising commercialization prospects,
Accelerating the transfer of technology from research laboratories to start-ups and established companies,
Attracting, retaining, and supporting life sciences entrepreneurs, and
Building collaborations between academic, entrepreneurial, corporate, financial, and government partners.

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BioAdvance is now recognized as one of the nation's leading investors providing essential pre-seed and seed stage funding to emerging life sciences companies. Using a unique investment strategy designed to identify promising research and technologies that could lead to important advances in medicine and human health, BioAdvance has invested $14 million in 24 life sciences companies and 14 academic projects since its first investments in 2003. Focusing on entrepreneurs in the life sciences sector, BioAdvance has invested in companies working to develop products to treat many serious health problems including Alzheimer’s, obesity, diabetes, macular degeneration and cancer. BioAdvance's investments have enabled its portfolio companies to leverage an additional $900 million in subsequent capital into the region, and have been involved in many significant industry developments including acquisitions and strategic licensing and partnering opportunities.

BioAdvance provides funding through its $20 million to its Greenhouse Fund, which invests in new therapeutics, biomedical devices, diagnostics and platform technologies.

BioAdvance is also a founding partner in the development of the Greater Philadelphia Life Sciences Guide (GPLSG), which is available at www.look4science.com. The GPLSG is an online directory of life sciences companies, support organizations and consultants in and surrounding the Greater Philadelphia region. The listed companies, organizations and consultants support existing and emerging life sciences firms in our region. This project is a collaborative effort between BioAdvance, Select Greater Philadelphia and the University City Keystone Innovation Zone.

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