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Biotech Funds Itself Via Contract Work

Monday, January 01, 2007 8:00:00 AM PDT | VentureDeal Staff

PROVIDENCE, RI  --  Eschewing the venture capital model, biotech company EpiVax has had success so far by funding its development work with contract testing for big pharma.

The company aims to "be the industry leader in computational immunology, vaccine design and immunogenicity expertise."  It hires itself out to large pharmaceutical companies who need testing services and obtains grants from government sources to develop vaccines.

The surplus from these and other activities is used to fund "internal discovery and design efforts aimed at selected biological targets, retaining a larger economic interest in the subsequently out-licensed lead candidates."

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