Quoting from the July 8th Denver Business Journal:
"The Colorado Institute for Drug, Device and Diagnostic Development (CID4) is playing a role left vacant in biotech because of a lack of venture capital in the state these days.
CID4 is pushing to direct the attention of national biotech investors to discoveries from state researchers forming new companies — a role area VC firms used to play.
“We’re trying to replace the early-stage buzz that we’ve lost in the decline of venture capital and create our own buzz about innovation coming out of Colorado,” said Kevin Smith, president and CEO of CID4."
Link to the article at the DBJ website