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CURE OPENS XSEED AWARD APPLICATIONS TO SUPPORT UNDERFUNDED AND UNDERREPRESENTED NYC LIFE SCIENCE STARTUPS WITH UP TO $500,000 | ||
By: PR Newswire Association LLC. - 09 Apr 2024 | Back to overview list |
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NEW YORK, April 9, 2024 /PRNewswire/ -- Cure®, a healthcare innovation campus in New York City, has opened applications to the XSeed Award, an annual competitive program designed to disrupt the status quo by supporting traditionally underfunded and underrepresented minority- and women-led life science and healthcare startups working on drug development in New York City. Deerfield Management, a New York City-based healthcare investment firm, founded and supports the XSeed Award. In 2024, two winning teams will become eligible to receive up to $250,000 each. They also will join the Cure ecosystem with their fellow awardees to receive entrepreneurship mentoring and networking designed to help them move promising translational research to the marketplace and commercial success. The deadline for XSeed Award application submissions is May 31, 2024, and virtual finalist presentations will be June 28, 2024. The program will announce winners on Sept. 2, 2024, and they will receive honors at an official ceremony at Cure in October 2024. "The XSeed Award is designed to bring equity and diversity to life science and healthcare innovation, where ongoing barriers critically impact the cures developed for underserved communities and the careers of scientists from underrepresented communities. For example, Black and female scientists remain significantly less likely than their white or male colleagues to receive three or more NIH research grants, a threshold that academic institutions prioritize for faculty hires and retention,1" said James E. Flynn, Managing Partner at Deerfield and Cure Founder. "Deerfield is pleased to continue our collaboration on the transformational XSeed program, alongside the NYCEDC, Cure and the experts who comprise our enthusiastic XSeed Award Leadership Committee." In addition to advancing their research, the 2024 cohort of X-Seed Award winners will enhance their entrepreneurial skills, networks and visibility via the Cure ecosystem. Graduates of each cohort will then serve as mentors and coaches for future cohorts, further strengthening the entrepreneurial community in New York City. "The Cure ecosystem of industry, investment and innovation experts is an ideal setting to mentor XSeed Award winners and hone their business knowledge to help their life science and healthcare achievements," said Seema Kumar, CEO of Cure. "We look forward to welcoming the XSeed Award winners who, along with the Cure Xchange Challenge winners, are startups advancing health through collaboration and community building via Cure." Deerfield and the New York City Economic Development Corporation launched the XSeed Award as a yearly program in 2020 to provide funding to help address critical funding gaps for the diverse population of most talented researchers and entrepreneurs in New York City. Advancium Health Network, an independent non-profit organization launched by Deerfield Management and dedicated to advancing healthcare and health equity, has helped operationalize the XSeed Awards since 2022. "The XSeed Award program aims to break down barriers and create equal opportunity in the life sciences sector by supporting minority- and women-led research and early-stage ventures to help yield the medicines of tomorrow," said New York City Economic Development Corporation (NYCEDC) Chief Strategy Officer Cecilia Kushner. "As Cure's ecosystem expands, the XSeed Award program will continue to help establish New York City as both a premier and inclusive hub for the life sciences industry. We are thrilled to be working alongside Deerfield and Cure again to support this important effort." XSeed Leadership Committee To learn more about the XSeed Award's applicant eligibility criteria and to submit applications, visit https://wewillcure.com/xseed-award About XSeed Since its inception, the XSeed program has helped fill early-stage funding gaps within the life sciences industry by identifying and supporting promising translational research and commercial opportunities of underrepresented and underfunded startups, financially and through a mentorship cohort. To learn more about the XSeed Award, visit https://wewillcure.com/xseed-award. About Deerfield Management About Cure.® _________________________ View original content to download multimedia:https://www.prnewswire.com/news-releases/cure-opens-xseed-award-applications-to-support-underfunded-and-underrepresented-nyc-life-science-startups-with-up-to-500-000--302111249.html SOURCE Cure |
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