04 Aug Charlottesville leaders focus on bolstering the regional entrepreneurial ecosystem in the biotech sector through new collaboration

CvilleBioHub, an industry-led nonprofit organization providing engagement, resourcing and advocacy to strengthen the Charlottesville-area biotechnology sector, and CAVAngels, a non-profit angel group that invests in early stage growth companies with a focus on the UVA family, are collaborating to enhance the entrepreneurial ecosystem in Charlottesville and provide angel funding support for early stage biotechnology and life science companies. 

As part of the collaboration, CAVAngels will engage early in the review process with CvilleBioHub to support founders and early stage concepts to streamline the pathway for funding resources. CvilleBioHub companies will also have the opportunity to join CAVAngels as an Educational Member at a discounted rate, with the ability to observe deal flow and due diligence meetings for education and also access Angel Capital Association platform content and programming.

“With our mission to fund companies within the UVA ecosystem, our first-in-class health system and community strength in biotechnology, it’s a natural fit to collaborate,” said Rich Diemer, co-chair and treasurer of CAVAngels. “Our growing membership and high-quality pipeline is serving to bolster the entrepreneurial ecosystem at the University, the surrounding Charlottesville area and wherever UVA alums establish roots globally.”

“We’ve already been working together in building bridges across the community,” said Nikki Hastings, executive director of CvilleBioHub. “CAVAngels has recently enhanced their advisory board with respected experts in the medical and biotech space to elevate the due diligence process, and combined with our involvement industry-side, biotech companies are supported now more than ever. This collaboration also supports our long-term goal of improving access to sustainable funding to support life science companies in our region.”

CvilleBioHub and CAVAngels will also work together to offer programming featuring expert talent and educational resources in future webinars and events. For more information on CvilleBioHub’s mission and network of companies, visit www.cvillebiohub.org. To learn more about CAVAngels, visit www.cavangels.com.