Johns Hopkins University is teaming with two D.C.-area institutions, Howard University and the National Institutes of Health, to create a new accelerator to help companies and research scientists focused on treating neurological conditions.
The nonprofit biotechnology accelerator, NeuroTech Harbor, is funded by an NIH investment of $5 million a year over five years, which could go up to $20 million annually. The NeuroTech Harbor plans to launch 45 new neurological companies over the next five years.
Executive director Sri Sarma, a professor at Hopkins, is seeking early stage companies to apply to the program. The goal is for companies to produce the first in-human prototype of a medical device by the end of the program. Selected companies can remain in the program for up to four years, earning $500,000 in support each year. Companies could be eligible for more support from the NIH if they succeed through the vetting process for a grant. The accelerator will not take any equity in the…
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