NIH launches $1.5 billion “shark tank” to accelerate testing

The most recently-passed federal legislation to address COVID-19 included funding for the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) to accelerate testing. The provision, added by Sens. Roy Blunt and Lamar Alexander, was envisioned to take an approach similar to TV’s “Shark Tank.” NIH is implementing the funds as a three-phase, “Rapid Acceleration of Diagnostics (RADx),” challenge with up to $500 million in prizes. Teams with COVID-19 testing solutions will submit proposals, which will be evaluated by experts from the five hubs of NIH’s Point-of-Care Technologies Research Network. Finalists will receive assistance from experts before the final selection is made.