Request for candidates

Our Target Product Concept describes the shape of the products that we think should exist: safe and tolerable long-acting preventatives that will prevent ≥75% of symptomatic respiratory infections in as few doses as possible, administered as easily as possible, and that have a credible path to ~60% uptake. We will prioritize approaches that are convenient to administer with minimal side effects to support the goals of widespread adoption and uptake.

We’ve called this a “target product concept” rather than “target product profile.” This is in large part to acknowledge the wide spectrum between our defined minimal and optimal attributes for our target product. We aim to prioritize BSPs that meet our optimal attributes, but recognize that this will be technically challenging and the pathway to advance such candidates through development is unproven. We propose minimum targets that are also aspirational but are more likely to reach approvals based on current drug development paradigms. Depending on where your candidate fits along this minimal/optimal spectrum, we understand the implications for product development could vary widely.

We know that most candidates won’t meet our full TPC today. For that reason, we’ll assess proposed candidates on their potential to meet our TPC, ideally on short timelines. To that end, you’ll notice that the application has a section where applicants will assess their candidate’s future ability to hit the TPC.

In addition to evaluating projects against their potential to hit our TPC, we also care about:

• Finding the very best ideas, regardless of stage. Early-stage ideas with strong technical rationale and small funding needs are welcome alongside later-stage candidates with extensive data packages.
• Moving quickly. We care a lot about getting products approved and adopted as soon as possible. We also favor projects that are important to start immediately, because of long lead times, closing windows of opportunity, or because they unlock other critical work.
• Minimizing execution risk. We’re okay with scientific failures, but will look for partners who minimize non-scientific failures and move with urgency.
• Structuring our investments for accountability. We’ll look for defined deliverables, realistic timelines, and a clear plan for next steps if results are positive.

While we welcome proposals across all relevant modalities, we have identified several areas where progress is especially needed:

• Broad-spectrum biologics & small molecule antivirals: novel candidates with pan-respiratory virus activity
• Delivery & retention of BSPs in the respiratory tract: platforms that can deliver and maintain BSP concentrations in both the upper- and lower-respiratory tracts
• Broad-spectrum T cell vaccines: approaches that elicit protective effector T cells across HLA-diverse populations
• Trained immunity: candidates that reliably and safely elicit broad antiviral innate immune responses
• Next-generation interferon-like molecules: engineered IFN mimics that activate antiviral ISGs without inflammatory side effects
• siRNA/ASO antivirals: nucleic acid approaches with broad respiratory virus activity
• Novel approaches not listed above: the list above is of course not exhaustive, and we actively encourage ideas outside these areas that can credibly advance our TPC

Enabling technologies accelerate the advancement of BSPs through development and include a broad range of resources, including but not limited to new controlled human challenge strains, development of new in vivo and in vitro preclinical models, mucosal endpoint sampling for clinical development, generation of virology and immunological data sets, delivery platforms to target BSPs to the upper- and lower-respiratory tracts, and many others.

For now, we are only requesting proposals for projects focused on new delivery platforms that deliver BSPs to the upper- and lower-respiratory tracts. We plan to request proposals across these topics over time.

The first step is to share an overview of your project proposal. The purpose of this stage is to give us enough detail on your work to indicate fit and warrant further exploration, but to also be respectful of your team’s time and not ask for too much detail. If we think there’s a potential fit, more information will almost certainly be requested in follow-ups.

This specific request for candidates will be open until at least December 31st. While you may submit at any time, we’ll prioritize reviewing proposals received by October 12, 2026.

Please note that we can’t commit to responding to every submission. If we believe there could be alignment, we will contact you to arrange an initial meeting.

Is this a one-time call for proposals?

No. This specific RFP will be open through at least December 31, 2026, after which we may make some edits/adjustments before reopening. In the future, we may also issue time-bound focused calls on specific topics (these will be announced separately).

What types of organizations can apply?

For-profit companies, academic labs, research institutes, and non-profit organizations are all eligible across different geographies. We cannot fund any applicant or any project involving a party that is subject to applicable sanctions or export-control restrictions.

How long until I hear back?

We can’t commit to responding to every submission. If we believe there could be alignment, we will contact you to arrange an initial meeting.

Does submitting a project overview guarantee funding?

No. A project overview is the first step in a multi-stage process. Most project overviews will not proceed to full proposals or investment discussions.

What does Intercept expect in return for funding?

This varies by funding pathway and stage. For grants, we typically require milestone-based reporting and rights to non-confidential results. For equity investments, standard venture terms apply. Specific terms are discussed during the proposal/negotiation stage.

What stages of development are eligible?

All stages, from exploratory research through Phase 2. We fund enabling research, platform development, and direct product candidates. You do not need clinical data to apply.

How will intellectual property be handled?

Intercept does not take ownership or co-ownership of your intellectual property. You retain full ownership of all IP developed with award funding, and you continue to file, prosecute, maintain and control your own patents, and Intercept takes no security interest or lien in your IP.

• A contingent mission license: Intercept requires a presently-granted non-exclusive, royalty-free license which remains dormant and cannot be exercised by Intercept unless certain events occur (such as a wind down of business operations or insolvency). If triggered, the license is limited to use in furtherance of Intercept’s charitable mission. It is a backstop against a promising health intervention being shelved.
• Publication and data sharing: We expect results from funded work to be published and data to be shared with the field. You will have 12 months following completion of the applicable research to publish results so you can file patent applications first. After that period, Intercept may publish factual and data components for noncommercial charitable purposes, subject to customary protections for your confidential information and patent rights.
• Grant size considerations: We generally do not expect a mission license for most small exploratory grants.
• Equity investments: Equity investments and grants that convert into equity investments will be subject to standard venture terms and a side letter with customary program and mission-related commitments, including the mission license.

Can I submit if my work is only partially aligned with the TPC?

Yes. We are assessing proposals based on their current and future potential alignment to the TPC. In addition, we fund enabling research and platform development.

Will my submission be kept confidential?

Yes. All project overview materials are treated as confidential to Intercept and its advisors. We will not share your submission externally without your consent. We do not sign NDAs at the project overview stage—please only share what you are comfortable sharing without an NDA. We expect to establish NDAs once we advance beyond the project overview phase.

I have ideas for how to create discrete products that target individual virus families that can be later combined into a BSP, should I submit multiple proposals for consideration?

Please submit one proposal that outlines the larger vision for the combined BSP and then the milestones or plan and budget for how you’d ladder up to that. What we want to avoid is funding individual products that don’t have a real path to becoming a BSP that meets our full TPC.

I work at a biotech company — will you require a board seat or equity stake?

Not necessarily. We offer multiple funding structures (grants, convertible grants, equity) depending on the project and stage. We’ll discuss the right structure collaboratively if there’s mutual interest.

I’m working on a project in air cleaning technologies. Will you have a separate RFP for that?

Yes, we expect to launch an RFP for air cleaning technologies that will be announced separately. For time sensitive opportunities regarding air cleaning technologies, please email team@interceptfund.com→

If you have any feedback for us or questions as you work through this application form, please email us at team@interceptfund.com→