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 ecosystem through company creation and job growth.
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 works to identify, fund and actively manage emerging life science technologies, this aim is achieved via an ongoing technology solicitation process augmented by additional deal flow sourcing through networked relationships. Active due diligence is provided by CID4 management and TBAC members.