Founded in 2009, the Colorado Institute for Drug, Device and Diagnostic Development (CID4) is a 501(c)(3) not-for-profit charitable organization whose mission is to:
- Advance the Colorado bioscience industry through helping to build sustainable companies.
Active business management and capital work in tandem to help bridge the gap between discovery and product development.
Colorado has a long and successful history in the life sciences. A sampling of biotechnology companies have included: Synergen (acquired by Amgen), Somatagen (acquired by Baxter), NexStar (acquired by Gilead), Ribozyme/siRNA (acquired by Merck), Dharmacon (acquired by Thermo Fisher), Pharmion (acquired by Celgene), Insmed (acquired by Merck) and Taligen (acquired by Alexion); A sampling of medical device companies have included Cobe (Gambro), Valley Labs (Covidien) and CaridianBCT (Terumo); And numerous going concerns who have recently raised venture capital dollars include: Clovis Oncology, GlobeImmune, Allos Therapeutics, Array Pharmaceuticals, ARCA biopharma, SomaLogic, Miragen and Biodesix.
Access to early-stage venture capital has become increasingly difficult and the “Valley of Death” or the period between discovery and entering the clinic, continues to widen, in part, as a function of risk capital continuing to migrate away from the early-stage entity and instead towards larger and later-stage deals.
CID4 funds and mentors emerging life science companies commercializing university/research institution technologies. Active due diligence and venture advisory input is provided by CID4 management, board members, and members of CID4's Technical and Business Advisory Committee.