Charlottesville-based University of Virginia’s Paul and Diane Manning Institute of Biotechnology has received $6 million in philanthropic gifts to establish the UVA Biotech Innovation Fund, which will support early-stage drug development.
The fund will provide long-term support for the institute’s UVA SPARK Innovative Medicines program, which offers researchers funding, mentorship and resources to move scientific discoveries toward clinical applications, according to a Nov. 4 news release shared with Becker’s.
The institute hosts an annual SPARK Tank competition in which UVA faculty and students pitch research projects for funding and development support. Following the inaugural competition in August, the program is now funding a pipeline of 12 potential medicines targeting conditions including brain, colorectal, ovarian, skin and prostate cancers, atrial fibrillation, Alzheimer’s and Type 1 diabetes.
The fund will also provide future SPARK cohorts with project management and regulatory support to help move discoveries toward commercialization and clinical use.
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