By Dennis Ford, Founder & CEO, LSN
Sourcing quality assets is the key conundrum for life science investors. Using the LSN Company Platform, investors and strategic players can get visibility on 30,000 global early stage products. Many pharma scouting groups use this and other data tools to identify assets and vet the competitive landscape. The LSN Company Platform is a compelling tool, and LSN has also developed other tools and tactics to surface compelling life science technologies.
LSN’s quarterly Redefining Early Stage Investments (RESI) Conference series features the RESI Innovation Challenge, which provides LSN a unique view into hundreds of companies every year that are actively seeking capital. These applicants virtually qualify themselves as being in the game, as the first great metric for investment is whether the team has decided to raise funds and can adequately pitch their product.
Additionally, R&D facilities and incubators can be important strategic partners when it comes to sourcing technologies. Two of the RESI conferences are held at two of the largest R&D centers in North America:
- Texas Medical Center’s new accelerator, TMCx, couples the resources of the world’s largest medical center with the innovative spark of entrepreneurs. TMCx facilitates the development of early stage digital health and medical device companies and, unlike most accelerators, does not charge membership fees or require equity from companies.
- MaRS Discovery District in Toronto is one of the world’s largest urban innovation hubs. MaRS cultivates high-impact ventures and equips innovators to drive economic and societal prosperity. MaRS provides expert advice and market research, and makes connections to talent, customers, and capital. MaRS startup ventures have created 6,500 jobs, and, in the last three years alone, they have raised $1 billion in capital and generated $500 million in revenue.
The other two RESI conferences are held in Boston and San Francisco; these two life science hubs also give us great opportunities to connect with key early stage players.
At the end of the day, sourcing technology involves two facets: you must be able to ferret out what you are seeking, but you must also create a beacon that attracts the technology you seek to you . High visibility within the life science investment world can make it a lot easier for an investor or pharma firm to find high quality assets. A multipronged approach is the best path to investment success.