Interview with Erika Tyburski, CEO at Sanguina and Maria Thacker-Goethe, President & CEO at Georgia Bio By Caitlin Dolegowski, Marketing Manager, LSN
Caitlin Dolegowski (CD): Please introduce us to Sanguina and the company’s technology (and curious about the naming of your company).
Erika Tyburski (ET): Hi Caitlin. Sanguina means blood in Latin and is also derived from the English word sanguine- or relaxed. I co-founded Sanguina to make accessible tools to learn more about your health. We have a focus on blood health, and making tools that tell you something about blood. We are passionate about blood because it often changes first in response to a stress on the system- a cold, a deficiency, or a chronic disease. This is why blood testing is often used for diagnoses. Our first platform is called AnemoCheck for accessible and rapid anemia management. We recently received FDA-clearance on a home test for hemoglobin level determination and have a complementary smartphone application for determining likelihood of anemia based on the paleness of fingernails via a fingernail selfie.
CD: Maria, please introduce us to Georgia Bio. RESI South took place in Atlanta and there were many companies from Georgia represented RESI. Tell us about the life sciences ecosystem in Georgia and exciting companies emerging, such as Sanguina.
Maria Thacker-Goethe (MT): Georgia Bio is the life science association focused on enhancing the innovation environment in Georgia. Our main goals are advocating for favorable policies, linking members with funding and partners, and supporting workforce development in the state.
Sanguina is one of our standout companies, but it’s not alone. At the RESI conference, we also had Andson Biotech, Aruna Bio, and Emtherapro presenting to the 350 attendees. These companies represent our growing ecosystem. The life sciences sector in Georgia has seen significant growth, with a 20% increase in jobs since 2015, totaling 11,225, and generating a total economic impact of $50.2 billion, according to Biopharma Reporter. Georgia is emerging as a prominent life science hub.
CD: Maria, I know you have been to RESI before, Erika, this was your first conference. What are your experiences at RESI? What worked well for you both at RESI South?
ET: The event was very efficient. The networking platform enabled meetings to be made ahead of the event and the rapid 20-minute meetings allowed me to meet with many parties in a short amount of time. Talk about bang for buck! I found myself re-connecting with people that have seen me grow locally and meeting new people in the southeast region. I particularly enjoyed the pitch session and constructive questions given to me by the digital health panel.
MT: First off, I had a great experience at the RESI South event last month. My team and I had more than a dozen meetings with life science companies in the state. Although Georgia has all the seeds needed to grow a robust ecosystem, one of the big gaps is venture funding. That is why the state associations partnered with Life Science Nation. We are excited about our partnership and look forward to even stronger future events.
CD: Erika, what stage of fundraising is Sanguina in and what are your goals in 2024?
ET: We have closed our first priced round. Sanguina is fortunate enough to have completed our raise and we are looking to go to work and generate recurring revenue this year and next. Sanguina is primarily a B2B company, so I am aiming to onboard several new customers and execute contracts for custom versions of our products. I look forward to profitability, with my next round focused on growth.
CD: Congratulations on your second-place finish at RESI JPM’s Innovator’s Pitch Challenge (IPC)! What do you think was the key to your success and standing out at RESI JPM?
ET: I’ve pitched a lot. I’ve been given thousands of questions on Why? How? When? And I’ve learned in that time to be as honest as possible. I’m not afraid to say: “I’m working on that answer”, while also acknowledging that “I’ve faced many challenges, and know how to overcome” I think investors and experts in my industry appreciate my candor. Additionally, I learn by doing, so throughout the years, I haven’t been afraid to Just Do It. I’ve learned how to run clinical studies, how to execute a regulatory strategy, how to raise money, how to close that first customer.
CD: What advice would you like to give to fellow entrepreneurs about RESI conferences?
ET: Have confidence in what you do and know. Be humble and talk to everyone, you never know what one new connection will lead to. And use the networking platform, of course!
MT: My biggest piece of advice is to use the partnering system to meet investors. Over 200 investors attended RESI South, either in person or virtually, which the Southeast has never seen. These investors want to meet with you to get to know you and your business.
If you’re interested in the next upcoming Innovator’s Pitch Challenge, you can apply for the RESI Europe 2024 IPC taking place June 17-19 with a 1-day in-person conference follow by 2-day virtual partnering at Hilton Diagonal Mar Barcelona in Barcelona, Catalonia, Spain. Applications are accepted on a rolling basis, so get your application submitted today!
McDermott Will & Emery a global law firm exhibited at RESI South on March 25, 2024.
Cambridge Innovation Center exhibited at RESI Boston on June 5, 2023.
Erika Tyburski
Maria Thacker-Goethe
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