Roche, QB3 partner to launch startups
Roche (SIX:ROG; OTCQX:RHHBY) partnered with the California Institute for Quantitative Biosciences (QB3) to launch the Collaborative Startups program to identify, fund and support early life science startups in the San Francisco Bay Area. QB3 will identify candidates for the program from its incubator network; the QB3 Startup-in-a-Box program, which provides legal support to incorporate and structure new companies; QB3's annual Bridging the Gap award program, which provided $250,000 over two years for proof-of-concept research; or directly from university laboratories. Mission Bay, which funds QB3 startups, will provide $200,000-$500,000 in seed funding, and Roche will provide matching funds. Roche and Mission Bay Capital, both of whom may also invest in series A rounds for potential startups, plan to launch a couple companies a year. The pharma may also provide scientific expertise or resources to startups. QB3 is a collaboration of the University of California, San Francisco; UC Berkeley and UC Santa Cruz. ...