Hot Life Science Investor Mandate 1: Venture Philanthropy Seeks Early-Stage Companies for Several Allocations

2 Oct

A venture philanthropy group established in 2008 and based in the Eastern US makes equity and convertible note investments of approximately $1 million into companies seeking up to $5 million that are targeting cardiovascular and neurovascular diseases. The firm invests in privately held companies at both the seed and venture stage, and is planning on making 3-4 allocations over the next 12 months. The firm operates under an evergreen structure and is constantly seeking new investment opportunities.

The group is currently looking for companies in both the Biotech Therapeutic & Diagnostics and Medtech sectors. Within these sectors, the firm is opportunistic in terms of subsector, although they do have special interest in companies developing regenerative technologies. The firm’s main focus is on companies developing technologies for cardiovascular and neurovascular diseases – however, they will also consider investing in companies targeting diabetes and metabolic disorders. The firm looks to invest in companies with a product in preclinical or phase 1 of clinical trials for Biotech Therapeutics and Diagnostics, and companies with a product in development or prototype stages for Medtech.

As a venture philanthropy organization, the group is only willing to allocate to companies who have a clear impact on patient therapy and/or standard of care, an adequate level of IP protection, well-defined use of proceeds with quantifiable and achievable milestones, and a clear understanding of the next round of fundraising needs including how much and likely sources.

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