Biotechnology startups across the country are using novel sources of funding. “Private investment is waning for early stage investment,” says Rick Silva, director of the University of Colorado Technology Transfer Office (UCTTO). “Universities have been pulled into the realm of technology maturation to fill a void in early stage investing.”
Private foundations are also filling this void. For example, a five-year $12.5 million grant from the Bill and Melinda Gates Foundation to Amyris Biotechnologies (Emeryville, California) is funding development of biotechnology methods to produce the anti-malaria drug artemisinin. Artemisinin is currently in short supply and improved production methods are needed.
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