The investments through Southern Research’s Therapeutics Development Fund are expected to add more than two dozen high-paying jobs in Alabama as well as support the efforts of dozens more scientists, officials said.
Eight companies including several based in Birmingham and Huntsville will receive $2.7 million in grants from Southern Research to support biotech development and expansion. Eight companies including several based in Birmingham and Huntsville will receive $2.7 million in grants from Southern Research to support biotech development and expansion.
“The Therapeutics Development Fund is playing a critical role in our effort to enhance the biotech industry in Alabama by supporting innovators who are already here and those who are willing to move here,” said Josh Carpenter, Southern Research CEO. “We are excited to leverage our 80 years of experience and expertise to support startups who want to advance their programs in Birmingham’s rich biotechnology ecosystem.
A second round of more than $3 million in funding will be issued later this year to support additional existing companies and new ventures in 2024 into 2025.
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