Lundbeck - Frontier Grant

Frontier Grants facilitate transitions from basic research to attractive prospects for biotech investors
Lundbeckfonden has now introduced Frontier Grants to support critical activities to advance and consolidate basic research projects, with significant potential, into attractive prospects for investors. The purpose of the grant is to advance mature research projects to become financeable and commercially tangible venture opportunities.

Purpose:
A Frontier Grant (FG) provides financial and interactive support to test and develop the commercial and translational potential of a basic research finding together with the researcher and allowing for mentoring and professional development activity.

Criteria – Who can apply:
- Field must be within biomedicine or health sciences, i.e., not limited to brain health.
- The research must be affiliated with a Danish non-commercial research institution – international collaboration is allowed.
- The project must be at a level of maturity that enables a convincing plan for how to progress into a commercially tangible venture opportunity within 18 months.
- Gaps that currently prevent the project from being an investment case, must be clearly identified, along with a plan to fill those gaps within the framework of an FG.
- The evaluation will be based on the scientific excellence, leadership potential, and potential to later build a venture.
- Relevant professional development activity defined, and mentor(s) identified within Lundbeckfonden and/or externally.

Application- and Evaluation Process:
- Contact the Lundbeck Foundation (LF) with an idea that matches the criteria.
- The process will be initiated by invitation from LF to present the idea to the FG panel (composed of members from the LF covering the basic research (Grants & Prizes) as well as early-stage biotech aspects (Lundbeckfonden BioCapital)).
- FG panel will select projects to enter an up to 3-month project description process.
- The outcome of this initial process will be an application describing the 18-months research and talent development plan. There will be funding available during the project description process to obtain project critical data, e.g., regarding intellectual property rights and competitive intelligence.
- Throughout the grant period there will be regular follow-ups with dedicated LF member(s), quarterly progress report meetings with FG panel, and annual reporting to the LF.
- At each of the above steps external experts may be consulted on a case-by-case basis.

The Grant:
The scope of the Frontier Grants covers all projects within health science or enabling technologies, with a duration of up to 18 months and a max budget of DKK 5.0 M (with optional 2.5 M and +6 months extension). The recipients of Frontier Grants will receive mentoring, including portfolio executives and other experts.

Success criteria for the finalized project:
- Successful raising of venture capital.
- Alternatively, a legitimate failure, following a well-executed plan.
- Also, an upskilled grantee with added experience with commercially assessed projects and project managerial skills.