Cincinnati Children’s Hospital Medical Center will begin making investments in biotech companies built around technologies originally developed at the medical center. Cincinnati Children’s Tomorrow Fund will provide early-stage angel and seed capital to new Cincinnati-based companies to develop to the point where traditional venture capital and other funding is attainable.
The Tomorrow Fund received $500,000 from the State of Ohio’s Third Frontier Validation Fund and Seed Fund Initiative. Start-up companies that receive investments from the Tomorrow Fund will use the investment capital to further develop their technology, hire employees and management, and refine their commercialization strategy.
Any returns on investment received by Cincinnati Children’s will be used for future Tomorrow Fund investments. Cincinnati Children’s CEO James Anderson said the primary goal of the Tomorrow Fund is to move hospital-owned technologies into the market, where they can become medical products to treat patients around the world.
