Bioscience group to grant $150,000

BOULDER – Boulder County-based bioscience startup firms are among the companies expected to submit requests for a $150,000 grant from the Colorado Institute for Drug, Device and Diagnostic Development.

Companies interested in applying for funds must submit material by Monday, July 2, to the nonprofit group’s website, CID4.com. Managers and the nonprofit group’s technical and business advisory committee will decide which company will receive the grant. Company business plans submitted after July 2 will be considered in a following project-evaluation session to take place in 2013.

In recent years, the Aurora-based nonprofit group has given $600,000 to hearing-device maker Sophono Inc. in Boulder and $150,000 to blood diagnostic test company Flashback Technologies LLC in Longmont.

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“Our first five projects have achieved important milestones in their drive to reach the market,” Kevin Smith, president and chief executive of CID4, said in a press statement. “The management and financial resources deployed by CID4 have had a material and measurable impact on their successes to date, and we look forward to doing more.”

In all, the group is responsible for bringing about $2.5 million of new money into Colorado to fund existing companies, as well as for about 30 new jobs, Smith said. It was started in 2009 on the Anschutz campus and is funded with more than $3 million from the state Legislature.