HealthTech Arkansas, an accelerator partnership of state hospitals and health systems, will team with an investment firm to launch BioAR Trial, an accelerator program that will help biotherapy companies go to market quicker.
HealthTech and SymBiosis Capital Management of Bentonville, led by Managing Partner Chidozie Ugwumba, will accept applications for the first trial of five companies until January 15 of next year. The first cohort is scheduled to start in April 2023.
“Our goal at SymBiosis is to make investments that help bring innovative therapeutics to market to improve and save lives,” Ugwumba said. ,“We are pleased to partner with HealthTech Arkansas to make our shared vision of BioAR Trial a reality and expect that this will be the first in a series of initiatives that help transform Arkansas into a national leader in healthcare.
“We are excited for what we anticipate will be a strong response to this unique opportunity and to begin working with the participating companies to advance their biotherapeutics.”
The trial’s participating medical partners are:
- Arkansas Children’s Research Institute
- Arkansas Heart Hospital
- Baptist Health
- CHI St. Vincent
- Highlands Oncology Group
- St. Bernards Healthcare
“Partnering with SymBiosis to establish BioAR Trial is an important next step towards achieving our goal of driving innovation for Arkansas healthcare providers through our accelerators and internal innovation programming,” said HealthTech Arkansas Director Jeff Stinson. “We are pleased to couple our healthcare accelerator’s ability to provide high-quality clinical trial sites for promising early-stage companies with SymBiosis’ deep expertise in helping biotherapeutic companies to fulfill their vital missions.”