Hot Life Science Investor Mandate 2: Angel Group Seeking Women Led Biotech/Medtech

24 Apr

An angel group with offices throughout the United States is looking for companies with female founder or CEO, or with women in other C-level positions. The group prefers to invest in companies with a valuation under $5 million; the group’s first-round equity investments generally range from $ 0.25 million to $2 million. The group invests in companies based across the US and Canada.

The group is currently looking for new investment opportunities in the life science space.  Within the life science sector, the group is highly opportunistic and inclusive when considering opportunities. The group will consider any indication or technology, but as they prefer to invest in products that have an addressable market of over $1 billion, the group is more interested in large marketplaces such as the cardiovascular space than in rare diseases.

In terms of validation, the group prefers to invest in device companies with positive in vitro data and ideally in vivo data; diagnostic companies with strong retrospective and ideally prospective, data; and therapeutics companies with data showing efficacy in animal models.  As the group is interested in products with a shorter path to market, the group primarily invests in healthcare IT (including software-based diagnostic platforms) and medical devices.

The group only backs privately held companies in which women occupy key roles as managers, founders or equity owners, and prefers to back management teams with a strong scientific background.  The group is looking for life science companies with protectable IP, articulated pathways for regulatory and payer approval, clear milestones, and in which the amount of capital required to reach the marketplace can be clearly stated.

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