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.