The category recognizes outstanding institutional support for innovation across the life-science, digital health and medical device sectors
NEW YORK, Jan. 11, 2022 /PRNewswire/ — — The Galien Foundation, the premier global institution dedicated to honor innovators in life sciences, today announced a new Prix Galien Award category dedicated to “Incubators, Accelerators and Equity.” This newest honor acknowledges the role played by these institutions in guiding the next wave of innovators by offering a range of mentoring skills including clinical trial design expertise, legal counsel, lab space, professional development, peer-to-peer support, free access to leading advisors and economic support to advance life science innovation.
Globally, incubators and accelerators have stepped in to play a pivotal role in the development of innovative solutions to the healthcare sector challenges of the 21st century. There are more than 4,000 incubators and accelerators worldwide, and some 1,800 in the United States alone. Academic institutions, major medical centers, large life science companies have launched incubators and accelerators to offer a guiding hand in the future of innovation – supporting biotech, digital health, health information and medical device start-ups – to have a stronger influence on the future of ideas that can improve human health.
“The addition of this new Prix Galien category reinforces the critical importance of academia and industry insight and experience to support the future and adaptation of bold, life-changing ideas that can improve humans’ wellness and health,” said Bernard Poussot, Director, Roche Holding, Former Chairman & CEO, Wyeth, Chairman of the Prix Galien, who leads the Prix Galien Start-Up & Digital Awards Category. “Galien is at the forefront of measuring the power of ideas and innovation to impact human life. Many of the world’s life-changing ideas accelerate from drawing board to major companies’ board rooms thanks to support from academia, industry mentors and private equity business guidance.”
“The Galien Foundation curates the best jurors, with decades of proven experience in the industry categories that we recognize for outstanding achievement. The Foundation creates an environment that nurtures and honors institutions for championing biomedical, digital health, and medical device excellence,” said Bruno Cohen, Chairman of The Galien Foundation. “Science and innovation are fragile states that require support at different levels to press forward and succeed. This new category is an essential part of the life-giving and sustaining innovation environment.”
“Today, an innovator’s connection to an accelerator, incubator or equity organization is a strong indicator for success,” said Gil Bashe, Chair Global Health, FINN Partners, and Prix Galien Incubators, Accelerators and Equity Committee Sub-Committee Chair. “Money itself is not sufficient to understand how to design the right clinical trials for regulatory approval, navigate the complexities of the payer system or build a marketing plan. The wisdom and experience offered by incubators, accelerators and hands-on equity groups is the game-changer to address unmet patient needs.”
Judges will evaluate submissions using these seven criteria alongside a candidate’s 800-word entry together with supporting documents:
- Information about the program/fund, its origins, philosophy, clinical or sector focus (e.g., biotechnology, digital health, medical device) and length of support
- Background on how you accept, support and address the needs of candidates or portfolio companies accepted
- Explain how you benchmark success during the incubation or acceleration or funding period
- Note resources provided to companies in the program – e.g., financial, housing, clinical, legal and communications
- Outline financial structure with entrepreneurs into the future – equity or royalties
- If applicable, offer information on the number of funds raised for your cohort of portfolio businesses – Series A or B and other funding rounds
- Examples of businesses that have “graduated” or “exited” from the incubator and/or accelerator
To learn more about the new award category and nominate an outstanding Accelerator, Incubator and Venture Fund demonstrating an ability to advance health innovation, please visit http://candidates.prix-galien-usa.com/
Prix Galien Start-Up Digital Health Category
Bernard Poussot – Start-Up & Digital Awards Jury Chair
Director, Roche Holding, Former Chairman & CEO, Wyeth
Prix Galien Incubators, Accelerators and Equity Category Sub Committee
Managing Partner, Chair Global Health, Finn Partners
Sub-Committee Jury Chair
Ron Cohen, M.D.
Founder, President & CEO, Acordia Therapeutics
Former CEO, Emergent Medical Associates
Amir Kalali, M.D.
Chairman & Chief Curator, CNS Summit/Co-Chair, Decentralized Trial Research Alliance
Michelle Longmire, M.D.
Co-Founder & CEO, Medable Inc.
Cheryl Pegus, M.D.
Executive Vice President of Health & Wellness, Walmart
James Prutow, J.D., MBA
Advisory Partner – Life Sciences, Molecular Diagnostics, Global Healthcare, PwC Consulting
About The Galien Foundation
The Galien Foundation fosters, recognizes and rewards excellence in scientific innovation to improve the state of human health. Our vision is to be the catalyst for the development of the next generation of innovative treatments and technologies that will impact the state of medical practice and save lives.
The Foundation oversees and directs activities in the US for the Prix Galien, an international awards program dedicated to progress through innovative medicines development, with chapters in 14 countries and Africa. The Prix Galien was created in 1970 by Roland Mehl in honor of Galien, the father of medical science and modern pharmacology. Worldwide, the Prix Galien is regarded as the equivalent of the Nobel Prize in biopharmaceutical research.
For more information, visit www.galienfoundation.org.
Follow the Foundation on social media: https://www.facebook.com/GalienFoundation/
SOURCE The Galien Foundation