Franklin Lakes-based BD (Becton, Dickinson and Company) and Breakout Labs announces that they have established a strategic relationship to provide additional grant funding and professional expertise to qualifying Breakout Labs portfolio companies.
Under the terms of the agreement, BD will periodically review Breakout Labs’ portfolio for companies developing cutting-edge technologies that are relevant to the strategic interests of BD’s Medical and Life Sciences business segments. Breakout Labs companies selected to participate will be given an unrestricted grant of up to $25,000 from BD, and assigned a business mentor responsible for providing guidance and connections to subject matter experts throughout the company.
“At BD, our goal is to find and nurture cutting-edge technologies that will improve healthcare delivery and outcomes, realizing that such opportunities will not just come from within our walls,” said Ellen Strahlman, executive vice president R&D and chief medical officer at BD. “Breakout Labs brings a fresh approach to finding and supporting the kind of desperately needed innovations that will improve health around the world. We’re excited to lend our financial assistance and subject matter expertise to help these companies flourish.”
In a pilot run of this relationship, Breakout Labs portfolio company CytoVale received a grant from BD. CytoVale management was also connected with Dr. Andrea Liebmann-Vinson at BD’s Corporate Innovation Center in Research Triangle Park, N.C., who will forge relationships within BD that may provide the San Francisco startup with technical evaluations as well as assistance understanding regulatory, clinical, reimbursement and manufacturing challenges required to bring a product to market.
“We’re excited to be partnering with an industry leader such as BD and deeply value BD’s financial and in-kind commitments towards accelerating commercialization of our cutting-edge cell analysis technology. We’ve already benefited from our early interaction with the team at BD, and look forward to continued engagement,” said Ajay Shah, CEO of CytoVale.
“When radical scientific ideas advance from the lab and into the market, everyone wins,” said Lindy Fishburne, executive director of Breakout Labs. “BD deeply understands this and can help our companies tackle some of their technical and operational challenges much more efficiently and adeptly than they could on their own.”Related Articles: