Summit Receives Investment from U. of Colorado Anschutz Medical Campus CDI Fund
University of Colorado Anschutz Medical Campus, Chancellor Discovery Innovation Fund (CDI Fund) Finalizes Investment in Summit Biolabs
AURORA, Colo., Nov. 18, 2020 /PRNewswire/ -- Summit Biolabs, an early-stage molecular diagnostics company specializing in saliva liquid-biopsy tests for COVID-19 and head and neck cancer, announced they have received funding from the University of Colorado Anschutz Medical Campus (CU Anschutz), Chancellor Discovery Innovation Fund (CDI Fund).
University of Colorado Anschutz Medical Campus Chancellor Don Elliman congratulated Summit Biolabs, describing the selection process by an external review board as "highly competitive and gives the funding the utmost honor and prestige."
The CDI Fund focuses on supporting healthcare technologies that are addressing unmet clinical needs with translational gap funding. The funds are deployed to support specific milestone-based objectives with the intention of unlocking future development or commercial opportunities. The fund is opportunistic in nature and will fund projects on a rolling basis.
"We are honored to receive this esteemed investment from CDI Fund," said Bob Blomquist, Chief Executive Officer at Summit Biolabs. "This will help strengthen Summit Biolabs' ability to bring to market life-changing saliva liquid-biopsy tests that ultimately enable better treatment and improved outcomes for patients."
About Summit Biolabs
Summit Biolabs is harnessing the power of saliva-based diagnostics to address critical challenges in COVID-19 and head & neck cancer testing. Founded on the discoveries of Dr. Shi-Long Lu, Summit Biolabs is being spun out from the University of Colorado Anschutz Medical Campus.
Summit Biolabs is pioneering early detection of head & neck cancer recurrence using a first of its kind saliva liquid-biopsy test, HNKlear. HNKlear is a proprietary, non-invasive saliva test that provides more effective, more accurate, and earlier detection of head and neck cancer recurrence than traditional diagnostic methods. Summit Biolabs is leveraging its core competencies in saliva-based molecular diagnostics and viral nucleic acid testing (i.e. oral oncogenic human papillomavirus detection) to join the fight against COVID-19. Along with our clinical and laboratory partners, Summit Biolabs is developing the first comprehensive panel of highly-accurate saliva-based tests for COVID-19 infection, quantitation and immune response. Summit Biolabs is headquartered in Aurora, Colorado.
About the University of Colorado Anschutz Medical Campus
The University of Colorado Anschutz Medical Campus is a world-class medical destination at the forefront of transformative science, medicine, education, and patient care. The campus encompasses the University of Colorado health professional schools, more than 60 centers and institutes, and two nationally ranked hospitals that treat more than 2 million adult and pediatric patients each year. Innovative, interconnected and highly collaborative, together we deliver life-changing treatments, patient care, professional training, and conduct world-renowned research powered by more than $550 million in research awards. For more information, visit www.cuanschutz.edu.
SOURCE Summit Biolabs