UMass Chan BRIDGE Fund invests nearly $2M in 13 faculty projects

By Jim Fessenden

BRIDGE Innovation and Business Development at UMass Chan Medical School invested nearly $2 million in 13 faculty-led research projects that hold promise for translation to clinical application and commercialization.

The BRIDGE Fund supports critical research milestones for inventions and discoveries that have high potential to change the course of disease. The funding will mitigate investment risk by producing key data sets that would provide an attractive entry-point for partners and investors. This investment fund continues to grow, increasing from approximately $1 million per year in 2019 to $3 million in 2024.

“We’re proud to invest $2 million in pioneering projects that showcase potential for clinical application and commercialization. Over the past three years, we have invested more than $6 million to build a strong pipeline of cutting-edge inventions across new therapeutics and medical devices,” said Parth Chakrabarti, MBA, executive vice chancellor for innovation and business development.

“For years, we have had great success working with investors to develop new siRNA and gene therapies for hard-to-treat diseases. This year, we are making investments to diversify our pipeline across other areas such as oncology, immunology, ophthalmology and infectious diseases, among others,” said Chakrabarti.

UMass Chan faculty submitted 29 projects for consideration this year. Project finalists presented to an external advisory board comprising biomedical industry leaders, investors and venture capitalists. The advisory board and BRIDGE selected awardees based on shared criteria. The criteria included scientific merit, innovation, unmet need, market readiness, value proposition and proposed milestones. Funding for the first round of milestones ranged from $31,000 to $302,400.

“I’m truly impressed by the caliber of research and scientific breakthroughs supported by the BRIDGE Fund. The innovative projects chosen hold immense promise for advancing biotech and medicine. I’m excited to see the progress of the research and the positive impact they will have on our industry and society,” said Christalyn Rhodes, PhD, external advisory board member and associate vice president of genetic medicine, external partnerships and collaborations at Eli Lilly and Company.

As part of the venture model approach, project funding will be linked to milestone achievements. Developmental milestones have clear objectives and detailed criteria for advancement before receiving additional funding and proceeding to successive milestones. BRIDGE will work closely with faculty over the next year to track progress.

BRIDGE will begin accepting applications for the new fiscal year in September. Projects will be selected, and funding awarded by June 30, 2024.

2023 BRIDGE Fund awardees