Organizations Filed Purposes:
BIOADVANCE WAS ESTABLISHED IN 2001 AS ONE OF THREE LIFE SCIENCES GREENHOUSES FUNDED WITH A SHARE OF PENNSYLVANIA'S NATIONAL TOBACCO SETTLEMENT REVENUES, TO PROMOTE HUMAN HEALTH BY SUPPORTING BIOMEDICAL INNOVATION IN THE SOUTHEASTERN PA REGION. BIOADVANCE DEDICATED $25 MILLION OF THE ORIGINAL GRANT FUNDING FOR PRE-SEED AND EARLY-STAGE FUNDING TO HELP MOVE TECHNOLOGIES TO THE NEXT STAGE OF DEVELOPMENT AND TO SUPPORT THE INITIATIVES INTENDED TO INCREASE THE REGION'S STRENGTH IN BIOMEDICAL INFORMATICS AND CLINICAL TRIALS. SINCE THE ORIGINAL GRANT FUNDING WAS EXPENDED, BIOADVANCE CONTINUES TO SUPPORT EMERGING LIFE SCIENCES COMPANIES IN SOUTHEASTERN PA AND THE SURROUNDING MID-ATLANTIC REGION THAT ARE FOCUSED ON TECHNOLOGIES TO IMPROVE HUMAN HEALTH. AS OF JUNE 30, 2020, A TOTAL OF $49.1 MILLION HAS BEEN INVESTED BY BIOADVANCE IN 93 COMPANIES AND ACADEMIC TECHNOLOGIES.
GREENHOUSE PROGRAM - THE CORNERSTONE OF BIOADVANCE INVESTMENT ACTIVITIES - WAS LAUNCHED TWO MONTHS AFTER RECEIVING THE DCED GRANT. THE PROGRAM FUNDS YOUNG COMPANIES FOR RESEARCH, DEVELOPMENT AND COMMERCIALIZATION ACTIVITIES THAT WILL PROVIDE ENOUGH PROGRESS TO ENABLE THEM TO ATTRACT VENTURE CAPITAL OR AN INDUSTRY PARTNER. INDIVIDUAL COMPANIES ARE ELIGIBLE TO RECEIVE UP TO $1,500,000 WHICH OFTEN IS DISBURSED AS MILESTONES ARE ACHIEVED, UNLESS THE CAP IS INCREASED BY THE BOARD. THE INVESTMENTS ARE IN THE FORM OF EQUITY OR A NOTE THAT CONVERTS INTO EQUITY UPON A SPECIFIED MINIMUM SIZE OF DOLLAR FUNDING.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Barbara S Schilberg | CEO & MANAGING DIRECTOR | 40 | $320,100 |
| Frederick Jones | VP AND SECRETARY | 40 | $298,434 |
| Shahram Hejazi | VP AND TREASURER | 32 | $295,911 |
| Robert Driscoll | DIRECTOR OF FINANCE | 40 | $197,152 |
| Marnie Mccoy | PROGRAM DIRECTOR | 40 | $124,113 |
| Steven Nichtberger Md | DIRECTOR | 0.5 | $0 |
| Lauren Lenfest | DIRECTOR | 0.5 | $0 |
| Russel Kaufman Md | DIRECTOR | 0.5 | $0 |
| J Larry Jameson Md Phd | DIRECTOR | 0.5 | $0 |
| John Gill | DIRECTOR | 0.5 | $0 |
| Philip Gerbino Pharmd | DIRECTOR | 0.5 | $0 |
| Stephen D'Ettorre | DIRECTOR | 0.5 | $0 |
| John Daly Md | DIRECTOR | 0.5 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202141329349302239_public.xml