Station 41: Therapeutics Development Fund

Are you a founder or PI with an early-stage (Technology Readiness Level 1-4) therapeutic product? Southern Research is launching the Therapeutics Development Fund to support participating startups and innovators with technical and entrepreneurial support.

To be eligible for the program, the following criteria are required. You must be:

  • An already existing company or willing to work with Southern Research to create a company around the product
  • Company must have less than 15 full-time employees and less than $1 million in commercial revenue over the last three years
  • Willing to locate headquarters in an Alabama New Market Tax Credit Zone (i.e., Southern Research campus or another qualifying zone, unless already located in one)
  • Company must be a for-profit business in an innovative industry. Innovative Industry includes advanced manufacturing, aerospace, agriculture, bioscience, biotechnology, electronics, energy and natural resources, engineering, life sciences, and information technology industries, and any other innovative industry as determined by Innovate Alabama in its sole discretion.
  • Company’s product is intended to undergo FDA-regulated processes for IND application and ultimately NDA approval
  • Company must meet relocation requirements and register as an Alabama company before research begins

Intent and Commitment to Alabama

Pending a positive set of outcomes from studies completed through this fund mechanism, companies must sign a non-binding Letter of Commitment to grow biotechnology jobs in Alabama in accordance with Innovate Alabama’s goals with its novel tax credit program. The plans in this letter include:
  • Maintaining company registration in Alabama
  • Hiring 50% or more of total employees in Alabama, including executives
  • Confirm the company’s main physical location is in Alabama
  • Continue to execute pre-clinical research services in Alabama, where appropriate
  • Conduct clinical trials in Alabama, when relevant
With support from Innovate Alabama, Southern Research’s Therapeutics Development Fund invests between $300k to $500k via in-kind technical and commercialization assistance for equity to bridge the gap to critical sources of follow-on funding, such as angel and venture capital and industry partnerships.

Technical and entrepreneurial services include:

High-Throughput Screening

Chemistry

Biodistribution and Toxicology

Pharmacokinetic (PK) and ADME

Legal Counsel

Venture Capital Training and Coaching

Mentorship

Wet Lab Space and Shared Equipment

We seek broad and flexible spectrum of early-stage/preclinical companies to support a diversified portfolio of projects. Projects will be accepted across a range of therapeutic areas and modalities, and will ultimately be selected to align with Southern Research’s technical capabilities.

Investment terms will be determined indiviudually with successful participants. Investments may take the form of direct equity, convertible notes, milestones, shared IP interest, or other mechanisms. We will work with you to identify the mechanism best suited for your product and company.

Disclaimers

Please review our privacy policy before sharing confidential information
Please be comprehensive to allow us to understand your project and technology fully.
Please also address the status of IP protection.
Please also indicate all prior funding for your project and technology.

Process

Upon receipt of your application, our Scientific and Commercialization teams will review and process your materials within 30 days or less of the application date. From there, the team will determine whether the applicant meets our desired criteria or if the application requires additional information. If selected, a formal onboarding process will be scheduled with the applicant.

 Southern Research is launching the Therapeutics Development Fund to support participating startups and innovators with technical and entrepreneurial support.

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