The Trump administration has instructed the NIH to limit certain funding types, affecting early-stage biotech companies. Although a federal judge has temporarily blocked these changes, concerns over delayed or eliminated grants persist. Chris Gibson and David Bearss launched Altitude Lab Pre-seed Venture Fund to invest in biotech startups facing this uncertainty. The fund, aiming for $100,000 to $250,000 in funding for 10 to 15 companies, will primarily support those eligible for SBIR grants. Gibson emphasizes the critical role SBIR grants play in securing additional funding, having previously benefited from them himself while establishing Recursion.
Early science is super risky. It's hard to know how these companies are going to turn out, but companies funded with SBIR grants are dramatically more likely to go on to be able to raise private money.
That 2014 funding helped Recursion create its dataset, which formed the basis of its machine learning algorithm and drug discovery platform.
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