The Timothy P. Walbert Entrepreneurship Impact Award will provide much-needed early-stage capital to the most promising startups in the biosciences industry.

Chicago, IL – The iBIO Institute has received a  donation from Tim Walbert, former chairman, president and chief executive officer of Horizon Therapeutics, which Amgen recently acquired for $28 billion. The donation will fund the Annual iBIO Timothy P. Walbert Entrepreneurship Impact Award, an initiative that recognizes and supports entrepreneurs.

For nearly two decades under Mr. Walbert’s leadership, Horizon has been a pioneer in researching, developing and commercializing innovative medicines that have helped improve the lives of countless individuals and families facing life’s toughest challenges. The donation to iBIO Institute signifies Walbert’s ongoing commitment to advancing the life sciences community and supporting the next generation of innovative entrepreneurs.

The Timothy P. Walbert Entrepreneurship Impact Award will provide much-needed early-stage capital to the most promising startups in the biosciences industry. This award addresses the critical challenge of accessing funding at the earliest stages of development, where traditional financing can be scarce.

“As an entrepreneur and committed member of the Illinois biosciences community, I am proud to support iBIO’s mission to advance our industry and provide opportunities for the next generation of entrepreneurs,” said Mr. Walbert.

The iBIO Institute is a leading organization advancing the biosciences industry by supporting education and workforce development, entrepreneurship, networking, and partnering among the life sciences community. The donation from Walbert will ensure that entrepreneurs with groundbreaking ideas have access to the resources they need to bring their innovations to the market.

“The iBIO Institute is thrilled to receive this generous donation from Tim Walbert, a visionary leader in the biosciences industry,” said John Conrad, president and CEO of iBIO Institute. “With this support, we can continue to advance our mission of empowering entrepreneurs and building a strong bioscience ecosystem that drives innovation and impact.”

Starting in 2024, The Timothy P. Walbert Entrepreneurship Impact Award will be a permanent fixture in the iBIO’s suite of programs and resources. The award will provide much-needed support to entrepreneurs determined to bring innovative ideas to the biosciences industry and impact patients’ lives worldwide. iBIO has launched a website to provide the community with more information and allow startups to receive a notice when the application portal opens.

About iBIO

The Illinois Biotechnology Innovation Organization (iBIO) is a life sciences industry association that represents the 91,000 life sciences employees at member companies, universities, service providers, and venture firms. iBIO promotes the industry’s value to the public and policymakers, connects innovators to investment and talent, stimulates collaboration, and fosters the next generation of innovators and entrepreneurs to transform patient lives through groundbreaking research and works to grow the Illinois economy.

iBIO’s public charity, the iBIO Institute, delivers industry-led STEM programs and supports economic development initiatives in Illinois. To learn more about iBIO and its programs, visit