MedCity News February 19, 2025
Altitude Lab Fund will provide pre-seed funding for early-stage startups affected by changes to grant programs administered by the National Institutes of Health. Accepted applicants will be admitted to Altitude Lab, the Salt Lake City biotech accelerator formed by Recursion Pharmaceuticals.
Before biopharmaceutical companies raise money from venture capital firms, their early funding often comes from the U.S. government in the form National Institutes of Health grants. That was the case for Recursion Pharmaceuticals, a now publicly traded company that applies artificial intelligence to drug discovery and development. With layoffs at the NIH underway and its grant funding programs in limbo, Recursion is stepping in to fill in some of the funding gap for biotech startups.
Altitude Lab, a biotech...
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