A non-profit based in the Western US with nearly $50 million in assets is interested in biotech firms developing therapeutics that target brain disorders. The firm typically allocates from the hundreds of thousands into the millions per firm, and is looking to allocate to one more firm in the life science’s space for their second fund. They are especially interested in technologies that are able to deliver therapeutics across the blood brain barrier, as well as the personalized medicine space. The firm prefers funds that are in between phase I and phase II of the clinical development process, but will consider products in preclinical, phase I, and phase II development.

A New England-based nonprofit is targeting a philanthropic fund that specifically supports scientific discoveries targeting oncology that show significant clinical potential, but which remain stuck due to insufficient funding. The organization’s primary mandate is to increase the number of cancer treatment discoveries that undergo early stage product development so that more successful treatments will make it through the pipeline.

The organization intends to write grants to emerging biotechs developing preclinical technologies. Average allocations are expected to be in the hundreds of thousands, and will be made on an opportunistic basis. Though the organization will look at opportunities across the scope of oncology therapeutics and diagnostics, companies developing molecular technologies are of particular interest.

The firm is looking for companies in the biotech therapeutics & diagnostics space, and the medtech space. The fund invests in both therapeutics & diagnostics, and will consider the full gamut of subsectors and indications within the biotech therapeutics and diagnostics, as well as in the medtech space.

The VC invests in pre-revenue, early stage companies. With that being said, they are solely looking for companies that do not currently have a product on the market. In the biotech therapeutics and diagnostics space, the firm typically prefers to invest in companies one year prior to the firm starting their phase I clinical trials. In the medtech space, the firm looks for companies that have a prototype of their device.

About 70% of the VC’s life sciences investments are in therapeutics, 30% of which are distributed between devices, diagnostics, and discovery platforms. Currently, the firm is most interested in therapeutics, and is avoiding med-tech opportunities due to an internal perspective of unpredictability of the FDA’s activities in the med-tech space.

Though they do not have a strict mandate in terms of subsector or indication, therapeutics for oncology, cardiovascular, anti-inflammatories, and ophthalmology drugs have historically done well, and are favored by, the investment team.

The VC does not have a specific timeline for allocation, and will make investments as opportunities arise. Typically, they will invest $500K – $1.5MM initially and reserve 1-3x initial invested capital for follow-on rounds, however the firm is comfortable investing broadly across stage, from seed to late stage, and will selectively invest $100K – $250K in angel rounds on an opportunistic basis. The firm prefers to be a co-investor alongside other firms or syndicates, and lays significant value on investing alongside notable “top-tier” firms.

This particular firm is interested in the biotech therapeutics and diagnostics space, as well as in medical technologies. Although the firm does invest in therapeutic companies, they are most interested in the diagnostics and medical device space currently. Additionally, they are interested in companies that are developing research tools.

The firm makes seed and seed stage investments, and therefore does not consider firms that have raised a significant amount of venture capital, or more research-oriented projects that are better suited for an NIH grant. Consequently, the firm will consider companies that have a prototype of their medical device, or diagnostics companies that are in the pre-clinical phase of development.

The foundation is currently looking for new firms in the life sciences space for potential allocations. Although they do not have a set number of firms they wish to allocate to over the next six to nine months, they typically will provide capital to around 20 firms annually. With that being said, they will allocate to a number of firms over the next 6-9 months if some compelling opportunities are uncovered.   Currently, the foundation is most interested in the biotech space, specifically in firms focused on environmental biotechnology. In particular, the firm is seeking firms that are developing anti-pollution or waste remediation technologies.

The foundation is only looking for companies that are pre-revenue, and thus provide seed funding to these. The foundation is willing to provide up to one-third of the capital required to develop the technology. However, they must demonstrate that they will be able to obtain funding for the remaining two-thirds of the financing.