Developing strong syndicates to support early-stage, innovative companies is an important part of our work, which is why today we are pleased to announce a new collaboration with Accelerator Corporation, a biotechnology investment and management company that is supporting life science company formation in Seattle and New York.
Through Johnson & Johnson Development Corporation’s investment, we have joined a syndicate of life science investors to fully fund Accelerator Corporation’s fourth commitment round. With this new round, Accelerator is expanding from Seattle to New York, where there is significant opportunity to support early-stage opportunities.
Since its formation in 2003, Accelerator has incubated 12 early-stage biotechnology companies, providing them with the critical management and financial resources necessary to further develop important science. Accelerator has demonstrated a track record of success, with half of these 12 companies graduating from Accelerator’s incubation infrastructure. Additionally, two have been acquired, and a third has raised additional funding.
Accelerator has also developed important partnerships with leading research institutions, and we are pleased to be supporting them through this additional program.
In New York City, Accelerator will work in partnership with Albert Einstein College of Medicine of Yeshiva University, Columbia University, Icahn School of Medicine at Mount Sinai, Memorial Sloan Kettering Cancer Center, New York University, The Rockefeller University, and Weill Cornell Medical College.
In Seattle, Accelerator has expanded its partners beyond the Institute for Systems Biology to include Benaroya Research Institute at Virginia Mason, Infectious Disease Research Institute, Pacific Northwest Diabetes Research Institute, Puget Sound Blood Center Research Institute, Seattle BioMed, Seattle Children’s Research Institute and Washington State University.
Today, more than ever, it is important to work through traditional as well as new models to support innovation, and our collaboration with Accelerator demonstrates the breadth of programs we are engaged in to support entrepreneurs.
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