Boehringer Ingelheim (BI) and the BI Venture Fund have awarded Fairbanks Pharmaceuticals the prestigious 2018 Boston Innovation Prize “Golden Ticket.” The prize recognizes the challenge and dedication it takes to successfully build a new company by supporting the innovation process and celebrating life-science entrepreneurs. The award, worth up to $75,000, includes one year of rent at the LabCentral facility in Cambridge, MA. Dr. Clive Wood, Senior Vice President of Discovery Research at BI, presented the award to Dr. Alan Schneyer, Fairbanks’ CEO.
LabCentral is a first-of-its kind shared laboratory space designed as a launchpad for high-potential life sciences and biotech startups. As a testament to its success, in recent years, LabCentral residents and alumni have raised over two billion dollars, with over $750 million dollars in financing in 2017 alone.
Fairbanks Pharmaceuticals was chosen from a field of ten early-stage bioscience organizations that presented their pitches to a panel of judges. “We are honored to have been selected by BI as the best young biotech company and we greatly appreciate the validation of our idea and approach by such a distinguished pharmaceutical company” said Dr. Schneyer. Dr. Schneyer said that he and his team are excited for the opportunity to locate in Lab Central in Cambridge, the center of biotech entrepreneurism. Fairbanks is also looking forward for the opportunity to work more closely with BI scientists to facilitate development of our lead candidates.
The $200K Challenge is a global competition for early-stage medical device and biotech innovations. The goal of the $200K Challenge is to identify the most promising innovations that will move the needle in healthcare.
On March 28, the finalists will make their pitches to a live audience and a panel of expert judges. Awards totaling up to $200,000 will be presented at a ceremony on April 10. Tickets for the events and a list of the finalists are available here.
Fairbanks Pharmaceuticals was awarded a pilot grant from the UMass Office of the President’s Science and Technology Fund to screen small molecules with the goal of identifying compounds that will promote the transdifferentiation of pancreatic alpha cells into insulin secreting beta cells.
This highly competitive funding program was created by UMass to stimulate the development of high impact therapeutic candidates. Proposals were selected based on assay feasibility, medical relevance, and commercialization potential.
Fairbanks Pharmaceuticals received a second award from the Massachusetts Life Science Center to hire a new technician intern starting in July 2016. Alyssa Berthelette, a 2016 graduate from Assumption College with a degree in Biology, was selected to replace Eddie Mesiti who departed July 31 to continue his education.Welcome Aboard Alyssa!
Dr. Alan Schneyer, CEO/CSO and Co-founder of Fairbanks Pharmaceuticals, is the Principal Investigator (PI) of an SBIR grant from The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) at The National Institutes of Health (NIH). The award begins immediately and funds our research that will identify a number of candidate compounds using our proprietary screening bioassay, comparing them for biochemical and biological properties, and testing the top candidates for biological activity in islet culture assays.
The award lasts for a one year period. It is anticipated that the successful completion of this Phase 1 award will lead to a larger Phase 2 award, which will allow testing the biological activity of lead compounds in animals. The goal of Fairbanks Pharmaceuticals, and this SBIR grant, is to develop compounds that lead to regeneration of insulin-producing beta cells to replace those lost to either type 1 or type 2 diabetes and thereby partially or completely eliminate diabetes in these patients. Stay tuned for progress reports….
Fairbanks Pharmaceuticals received an award from the Massachusetts Life Science Center to hire an intern starting in July 2015. Alfredo (Eddie) Mesiti, a 2014 graduate from the University of Massachusetts-Amherst with an undergraduate degree in Microbiology, was selected to fill this role.
Eddie is currently completing a Masters Degree in Applied Molecular Biotechnology. This internship will help him in his degree program while amplifying progress in pursuing our research agenda. Welcome Aboard Eddie!