PROPEL Awards Grants To 4 Companies To Attend 2015 BIO International Convention

CHICAGO--(BUSINESS WIRE)--The PROPEL^® Center of the iBIO Institute is pleased to announce that it has awarded grants to 5 PROPEL companies to attend the 2015 BIO International Convention in Philadelphia, Pennsylvania, June 15-18. The BIO International Convention is the world’s largest gathering of biotechnology companies, bringing more than 2,500 companies together in a uniquely multifaceted environment for business development, capital formation, innovative technology showcasing, world-class educational opportunities and networking.

“Vidasym has attended several BIO conventions with PROPEL’s help which have been critical to cultivate regional, national and international relationships with potential development and commercialization partners or investors”

Some PROPEL grant recipients will have access to BIO’s One-on-One Partnering™ system, providing them with the opportunity to connect directly with global partners and potential investors, while others will attend the BIO Entrepreneurship Boot Camp.

“The 2015 BIO International Convention is the largest global event for biotechnology and the industry’s premier networking opportunity. This year, we expect to host over 29,000 one-on-one meetings in just three days,” said Scott Whitaker President of the BIO International Convention. “The grants provided by the PROPEL Center have been instrumental in connecting Illinois’ biotech startups with the global talent and venture capital that continue to advance the state as a hub for biotech innovation.”

PROPEL awarded 2015 BIO International Convention grants to Novalex Therapeutics, Ohmx, Sparrow Pharmaceuticals and Vidasym.

"Vidasym has attended several BIO conventions with PROPEL’s help which have been critical to cultivate regional, national and international relationships with potential development and commercialization partners or investors,” said Terry Opgenorth, President & CEO of Vidasym. “This PROPEL grant is instrumental in helping us attend each year.”

PROPEL is also expanding its BIO Convention and AdvaMed conference grant programs. PROPEL now offers grants to its active PROPEL companies to attend a conference or convention of their choice throughout the year.

PROPEL has provided over $42,000 in grants to 37 startup companies over the past three years to attend the annual BIO International Conventions and AdvaMed conferences. 2015 is off to a great start with 6 PROPEL companies awarded grants to help them attend the 2015 BIO International Convention in Philadelphia in June. “PROPEL programs such as these support PROPEL companies and facilitate their engagement of partners, resources, and prospective investors. We are very proud that our active companies have raised $175 for every $1 we have awarded, demonstrating the leverage effect these small awards can provide,” said Barbara Goodman, Senior Vice President of PROPEL. Funding for the PROPEL Convention grant program is funded by the Searle Funds of The Chicago Community Trust.

Details on eligibility and the application for the expanded PROPEL Grants to Attend Conferences can be found http://goo.gl/R5f7OS.

For more information on PROPEL or the iBIO Institute, visit www.ibiopropel.org.

For more information on the 2015 BIO International Convention, visit http://convention.bio.org/.

About the iBIO^® Institute: The mission of the iBIO Institute is to orchestrate business leadership in delivery of world-class educational programs and job-creating new technology ventures.

About the iBIO Institute’s PROPEL^® Center: The mission of the Institute’s PROPEL Center is to increase the number and success rate of early-stage life sciences companies in Illinois. PROPEL gives entrepreneurs access to specialized resources and expertise and prepares them for early-stage funding.