N.C. Biotech Center awards $2.5 million grant to nanobiotechnology center
The Center for Innovation and Nanobiotechnology is getting a major boost in efforts to create a hub for commercialization of new research across North Carolina with a $2.5 million grant from the North Carolina Biotechnology Center.
The money will be spread over four years.
Launched last year with $100,000 in funding from the Biotech Center to hire a director and write a business plan, the nanobiotechnology center, called COIN, will receive the money as it hits certain agreed-upon business milestones.
The money also should help COIN establish itself as an “independent, self-sustaining entity,” according to the Biotech Center.
North Carolina A&T, UNC-Greensboro and Wake Forest University are involved in the project. COIN will be based in the Triad. Several other universities are also now involved.
“Our mission is to connect the dots in the world of nanobiotechnology, including academic and industry researchers, entrepreneurs, managers and investors,” said COIN Executive Director Brooke Adams. “This center will use nanobiotech to add value, meet market needs, solve problems and benefit humanity. The result will be economic growth and job creation across the state.”
Nanobiotechnology research could lead to new medical devices, drugs, and much more, said Mary Beth Thomas, senior director of the Centers of Innovation at the Biotech Center.
“Nanobiotechnology is an exciting new discipline that has the potential to change everything from textiles to medical devices,” she said in a statement. “This Center of Innovation will help commercialize more of the nanobiotech breakthroughs being made in North Carolina laboratories.”
Gwyn Riddick, director of the Piedmont Triad office for the Biotech Center, noted that the nanobiotechnology center grant is the first won jointly by the three Triad universities.
The Biotechnology Center is funding development of three other Centers for Innovation – marine biotechnology, drug discovery and advanced medical technologies.
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