Altitude Lab Secures Small Business Administration Growth Fund Accelerator Grant to Launch Horizon, a Commercialization Partnering Program

The grant designates Altitude Lab as a top acceleration program for biotechnology startups

SALT LAKE CITY, April 30, 2024 (GLOBE NEWSWIRE) -- Altitude Lab and the Small Business Administration (SBA) are pleased to announce Horizon, a commercialization program to connect startups to distributors, biopharma partners, and strategic investors in major biotech hubs nationwide, providing education on deal structures while driving awareness of Altitude Lab's resident startups. The program is funded by a Stage One grant from the SBA, which Altitude Lab secured last week alongside 60 other top incubator and accelerator programs across the country.

"Most biotech startups require commercial partnerships to bring their therapies and innovations to patients and customers. While life science is the fastest-growing sector in Utah, connecting to biopharma and global distributors remains a major hurdle. Horizon aims to close this gap by bringing our entrepreneurs to established biotech hubs and developing lasting relationships with national strategic partners," said Chandana Haque, Executive Director at Altitude Lab.

To help connect and drive Horizon forward, Altitude has formed initial partnerships with industry leaders, including Wilson Sonsini Goodrich (WSGR) and The Utah Innovation Fund, to support its launch this fall. 

"Altitude Lab's receipt of the Small Business Administration Growth Fund Accelerator Grant underscores their dedication to advancing innovation in Utah's biotech sector. It’s truly exciting to see this award go to Altitude Lab and we eagerly anticipate the positive impact the Horizon program will have on fostering vital partnerships and driving progress. Congratulations to Altitude Lab on this well-deserved achievement!" said Marla Trollan, Utah Director of the U.S. Small Business Administration. 

"The Utah Innovation Fund is unique in that it is a state-sponsored venture fund designed to help our deep tech entrepreneurs bridge the gap between technology feasibility and commercial success. Horizon is a program that naturally fits our mission, and we are thrilled to help Altitude connect Utah's leading startups to critical partners," said Gabi Tellez, Managing Director of the Utah Innovation Fund. 

"Wilson Sonsini launched our Salt Lake City practice because we've noted the state's huge strides in economic activity. We've been working with Altitude to help their startups navigate partnership agreements and IP strategy for three years. Supporting Horizon by helping Altitude and its startup connect with our national network is a continuation of the investment we are making in the region," said Matt Bresnahan, Partner at Wilson Sonsini Goodrich & Rosati.