Private Funding Gives Washington Life Sciences Discovery Fund Early Boost

With the first round of state funding not expected until April 2008, private foundations have stepped in to provide a jumpstart for the Life Sciences Discovery Fund (LSDF). Last week, six Washington-based research teams were awarded more than $4.5 million in private funding to support projects that improve health care quality and capitalize on economic development opportunities within the state.

 

Created in 2005, LSDF is a state agency that operates like a foundation, authorized to use $350 million in tobacco settlement funds over a 10-year period to support life science research (see the May 16, 2005 issue of the Digest). When leveraged with federal sources and private investment, the fund’s total impact is expected to exceed $1 billion.

 

Selected projects for the first round of funding will focus on innovative applications of technology to improve effectiveness of surgical procedures, to improve management for all patients, and to better diagnose and treat certain diseases. Major contributors include the Bill & Melinda Gates Foundation, the Paul G. Allen Family Foundation, Microsoft, Amgen, Safeco, and Regence BlueShield.

 

A press release is available at: http://www.lsdfa.org/about/news/Press_release_07-01_awards_final.pdf