CAMBRIDGE, Mass. & SAN FRANCISCO–(BUSINESS WIRE)–June 28, 2022–
Mission BioCapital has launched the Platinum Program to speed the creation of transformative life sciences startups. The Platinum Program will enable entrepreneurs from diverse backgrounds to quickly launch new companies with support from one of the most successful venture companies active in biopharma.
The Platinum Program will initially help four outstanding biotech startups establish and accelerate their businesses with the following resources:
- Six months of free Class A lab space at MBC BioLabs in San Francisco or San Carlos
- Up to $250,000 of seed capital
- Advice and mentoring from MBC’s partners, who have unequaled accomplishment in life sciences startups
- Assistance with incorporation and other startup tasks
MBC has a long tradition of assisting new entrepreneurs. Its general partners recognized the unique challenges of biotech companies over a decade ago and in response, founded three of the leading biotech incubator platforms; BioLabs, LabCentral, and MBC BioLabs. The Platinum Program is the team’s next development in accelerating biotech company formation.
“Starting any company is hard, but starting a biotech company is especially challenging because of the biotech Catch-22: you need data to get money, but you need money to get data,” said Doug Crawford, Ph.D., managing general partner in MBC’s San Francisco office. “We want to give deserving entrepreneurs the chance to sidestep this conundrum by giving them the lab space and the seed capital they need to quickly develop scientific data.”
Added Jennifer Griffin, Ph.D., a partner in MBC’s Cambridge office, “It’s no secret that fundraising has become more challenging in the life sciences sector during the past year. And yet, we still face enormous unmet medical needs for a range of patients. Consequently, we need a diversity of ideas and founders to address these challenges. The Platinum Program helps all types of entrepreneurs accelerate the journey from discovery to medical breakthrough.”
The deadline for applying to the Platinum Program is August 1. The streamlined application process includes filling out a short online form available on the MBC website and sharing a non-confidential presentation (10 slides maximum). The firm will award four Platinum Tickets in September.
About Mission BioCapital
Mission BioCapital is a venture capital firm focused on making pivotal early-stage investments in life sciences companies. We support our portfolio companies through a unique combination of shared lab space, capital investment, and access to strategic partners. With offices in the nation’s leading life science clusters in Cambridge and San Francisco,Mission BioCapital is dedicated to helping entrepreneurial scientists build successful companies, from idea to exit. Learn more at missionbiocapital.com.
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