Empowering Local Innovation: 48Hour Discovery Receives $530k from the Edmonton Edge Fund to Scale Drug Discovery Business
[Edmonton, Alberta] May 8, 2024 – 48Hour Discovery, a pioneering biotechnology company in precision medicines, is proud to announce that it has been awarded a $530k grant from the Edmonton Edge Fund. This grant, provided as part of Edge Fund Phase 1 funding, aims to support innovative businesses in the Edmonton area, enabling them to start, scale, and grow their initiatives.
The Edmonton Edge Fund is an initiative that addresses financial barriers for innovative businesses seeking to make transformative contributions to the local economy. By investing in forward-thinking companies like 48Hour Discovery, the fund aims to drive local economic growth and job creation in key industries and sectors.
“We are thrilled to receive this support from the Edmonton Edge Fund,” said Rick Finnegan, CEO at 48Hour Discovery. “This funding will allow us to accelerate our drug discovery efforts and continue our mission of developing cutting-edge solutions to address unmet medical needs.”
With the support of the Edmonton Edge Fund, 48Hour Discovery plans to advance its innovative drug discovery programs, leveraging its unique platform to identify novel therapeutic candidates. The grant will enable the company to expand its research and service capabilities, hire additional talent, expand its local footprint, and further establish itself as a leader in the biotechnology sector.
We are thrilled to receive this support from the Edmonton Edge Fund, this funding will allow us to accelerate our drug discovery efforts and continue our mission of developing cutting-edge solutions to address unmet medical needs."
The grant provided by the Edmonton Edge Fund will help 48Hour Discovery accelerate the development of life-saving therapeutics and contribute to the growth of Edmonton’s vibrant biotechnology ecosystem.
For more information about the Edmonton Edge Fund, visit Taproot Edmonton.
About 48Hour Discovery
48Hour Discovery, headquartered in Edmonton, is a pioneering biotechnology company that specializes in rapid drug discovery through its revolutionary peptide platform. By harnessing state-of-the-art technologies, the company quickly identifies and optimizes drug candidates providing an innovative approach to tackling unmet medical needs. Founded in 2017, 48Hour Discovery has validated its technology through strategic partnerships with over 25 companies, including global pharmaceutical leaders. With a dedicated focus on developing radiopharmaceutical assets, the company is at the forefront of advancing precision medicines for the diagnosis and treatment of various cancers. Discover more about our groundbreaking initiatives at www.48hourdiscovery.com.
