Next Phase Newsletter

Greg Mannix

Interview with Dennis Ford By Greg Mannix, Vice President International Business Development, General Manager Europe, LSN

Dennis Ford

Gregory Mannix: Please Explain why Life Science Nation’s Redefining Early Stage Investments (RESI) conferences are a good strategy for a startup seeking capital investment and licensing partners. 

Dennis Ford: It is very hard navigating all the partnering events and conferences if you are a startup with a limited budget, and trying to figure out which events will be best and most fruitful for you and your firm. 

 The first thing is getting in context; if you are raising a seed, Series A or Series B round, it can take 9-18 months to complete a round. Secondly, it is a numbers game. You must increase your visibility to as many potential players as possible, and it is not enough to go to a few events a year. You must be committed to being out in the marketplace, kissing many frogs, hearing many nos, and not being deterred. Third, this is not a part-time undertaking. It takes dedication to do a global fundraising campaign. It is a journey; you will have ups and downs along the way and must persevere.  

GM: What is your fundamental advice to startup CEOs? 

DF: My advice to startup CEOs is: every time you stick out your hand, you will be giving up as much as 20% of your company, so make sure you do the math and know how much cash you need for the next 24-36 months so that you have cash and runway to make your milestones and get your data for your next inflection point before the next round.   

GM: What is the distinct differentiator for a RESI Partnering Event? 

DF: RESI is unique because it has been a dedicated partnering event for over a decade, and while other events may have 10-15% investors in attendance, 50% of RESI’s attendees are investors. This bodes well for booking meetings with investors who fit your product and stage of development. Follow the money! 

 RESI is cross-border; we have three events in the U.S., one in Europe, and one in Asia, and it is also cross-silo, meaning that the buy-side attendees are seeking early-stage drugs, devices, diagnostics, and digital health (the 4Ds) startups for their portfolios. A startup can follow the RESI events every few months worldwide and use RESI to execute their global roadshow.  

GM: Who attends a RESI event? 

DF: The audience is well defined. As stated, the attendees are split 50/50 between sell-side startups across the 4Ds and ten categories of buy-side investors and licensing partners. This makes RESI partnering events incredibly interactive, and deals get done. LSN estimates that we have helped over 400 startups raise over $5B. The startup-to-investor ratio has been the same for the last ten years. The investors range from angels and family offices to early-stage VC and PE, Big Pharma and MedTech strategics, and corporate and government funders. 

GM: Startups are frustrated with the extravagant pricing models to attend events today. What has LSN done to help with this pricing pain point? 

DF: LSN introduced a flexible pricing model during COVID-19 that coincided with our virtual conferences that have morphed into present-day pricing. The challenge is finding price points that fit a startup company’s ever-changing stage of development.   For example, if you are a new startup, you can buy an audience access pass for $595. Although you will not have access to the partnering system, you can experience all the investor panels and workshops firsthand to see how other startup CEOs leverage RESI in their fundraising campaign.  They can attend pitch challenges to see how other start-up CEOs pitch to investors and subsequently observe investor reactions and questions. Attending RESI and learning through observation is invaluable for a newcomer.  

Presently, RESI is a three-day event with one face-to-face and two virtual days, so we adjusted the pricing so a startup can purchase a one-day, in person event with partnering for $1,795. Alternatively, the standard three-day package costs $2,295, which allows flexibility and is very competitive with the extravagant pricing that is out in the event arena today. Lastly, for a company that wants to participate in partnering, but cannot physically attend the conference, they can register for a virtual-only pass that costs $1,195, allowing them to connect with investors via videoconferencing. 

Michael Langer

Interview with Michael LangerBy Dennis Ford, Founder and CEO of Life Science Nation

Dennis Ford

Michael previously founded Old Silver VC, a family-associated investment firm that invests in Healthcare and Deep Tech startups focusing on materials. They invested in 20 companies, including Big Hat Biosciences, Sesame Care, Seismic Therapeutics, Alto Pharmacy and Opentrons. Also involved are Susan Langer, who is the former head of strategy at Biogen, and Dr. Bob Langer, who is an MIT Professor and founder of over 40 biotech companies, including Moderna.

Michael was formerly Head of Search, Evaluation, In-licensing & Acquisitions at Pear Therapeutics. During his time at Pear, Michael led or co-led 15 different transactions. Pear Therapeutics discovers, develops, and delivers clinically validated software-based therapeutics to provide better patient outcomes, smarter engagement and tracking tools for clinicians, and cost-effective solutions for payers.

Michael is an active philanthropist. He co-founded the Young Coder’s Society, which teaches children how to code using Raspberry Pi. He is a Young Leader at the Milken Institute and formerly a World Economic Forum Global Shaper. He serves on The Leadership Board at Beth Israel Deaconess Medical Center, on the Board of Advisors at the Museum of Science, and is the Senior Advisor of Special Projects at the Galenus Foundation.

Dennis Ford (DF): Please comment on the state of early-stage investments in Digital Health Technology. I see many startups in the digital health arena: the good is its software; the bad is not a lot of traction; and the ugly is reimbursement.

Michael Langer (ML): The last decade has seen incredible advances in digital health, both from an innovation and progress standpoint. Although valuations have gotten very frothy over the previous few years, we are presently seeing a return to equilibrium. Furthermore, there has been a significant impact on patients, which is a promising indicator for us. Business models are continuing to mature and evolve, but still more is needed to really solidify them. Reimbursement remains a significant issue, as payers have hesitated to reimburse products quickly. As a result, we need longer-term data and creativity in business models. Ultimately, the digital health sector will continue to need collaborative efforts from stakeholders – namely payers, providers, patients, pharma, and pharmacies – which can foster clear standards, interoperability, and payment models that support the integration of innovations into mainstream healthcare. We are also seeing regulatory frameworks evolving to accommodate and streamline the approval process for digital health technologies.

DF: Please share with our readers what you have learned as an entrepreneur through some of your ups and downs in the industry and some key takeaways you have personally learned from your experience in the life science arena.

ML: Entrepreneurship demands resilience above all else — the ability to weather setbacks while persisting in building. Beyond resilience, the power of effective communication paired with steady leadership cannot be overstated: inspiring others and cultivating a team that remains dedicated is paramount. I believe that people are drawn to work with leaders they believe in, rallying behind visions that resonate with their own values. Building a team that shares a foundational commitment to the mission is not just important but a cornerstone of enduring success.

DF: Michael, can you comment on what you have learned and elaborate on your process for vetting a startup for capital or licensing? How do you source, vet, and qualify the key things you must see when looking at a startup, from CEO to team to technology?

ML: The most impactful lessons I’ve gleaned boil down to two key principles. Firstly, cultivating a distinct and authentic voice has proven crucial in negotiations. My personal blend of humor, patience, and unwavering persistence aligns with my personality, making it a potent tool in various negotiations. This approach has significantly helped me be effective in navigating diverse scenarios. Secondly, emphasizing a relentless commitment to process and volume has been a game-changer for me. Establishing a streamlined and repeatable process enhances not only efficiency but also effectiveness.

Being successful in sourcing, vetting, and qualifying comes down to a few areas.  Finding quality and passionate people to partner with is key.  It’s extremely difficult to build anything of value without the right team.  Secondly, the science needs to be sound with research and data to support it.  Are there patents and how defensible are they?  Are they realistic with their goals and forecasts?  Lastly, what kind of impact will it have, does this help change the lives of others?

DF: Let’s switch to the Langer Family Office, which both your sister and father are also in. Can you explain the family dynamic and principles in how they approach business?

ML: My father has a number of principles that he has taught us from an early age. One is kindness: we are very big on developing enduring relationships, which is a massive part of our family ethos. This philosophy has therefore been core to how we look at deals, how we think about developing these deals. Another is the celebration of creativity, of scientific contrarianism: we don’t just seek intelligence, we value individuals who work outside the conventional boundaries of their work. Finally, we have an unwavering commitment to ethical integrity, to upholding a strong moral compass. We prioritize transparency and honesty with each other, with entrepreneurs, with business partners, with stakeholders – all to guide our business decision-making process.

DF: Your Family is well-known in the life science industry. Does that have advantages, and how do you leverage your amazing family network?  Are there any disadvantages?

ML: Like anything, there are positives and negatives. I have seen more positives. We have built a very strong reputation in the space and that can be very helpful in the things we do. But there are obviously huge expectations. When I was younger, that was stressful, although now I consider it more motivating than anything else. Ultimately, I feel very fortunate for the opportunities I have been given and am able to continue to foster.

DF: Do you have a network of other family offices that you co-invest with?  When you find a deal you like, will you lead? Are you able to pull in LPs from your vast network? Do you ever look for new LPs for specific deals?

ML: We have built a lot of strong relationships with other FO’s and institutional VC funds. We like a blended approach when we look at deals. Having diversity of investors in a round is really important. We like strategics as well as institutional and family offices. Each can offer really unique value and perspective in a syndicate.

DF: Last Question: There has been a lot of buzz in Boston about a new Langer Family Office initiative which is a new VC Fund in the works. Care to Comment?

ML: Unfortunately, at this time, we are unable to comment on that.

Vanessa Williamson

Interview with Vanessa Williamson, Entrepreneur-in-Residence/CEO at Gliachem By Caitlin Dolegowski, Marketing Manager, LSN

Caitlin Dolegowski

Caitlin Dolegowski (CD): Please introduce us to Gliachem and the company’s technology.

Vanessa Williamson (VW): Gliachem is a pre-clinical stage company developing small molecule therapeutics for rare and neurological diseases being spun out from the University Health Network (UHN) in Toronto, Canada. We have a first-in-class neurology drug development program with a unique mechanism of action and are targeting Rett Syndrome as our initial clinical indication.

Rett Syndrome is a rare, x-linked neurological disorder that affects how the brain develops, typically manifesting in females at 18-36 months. Its symptoms are highly debilitating and include intractable motor and cognitive disabilities, breathing issues, and seizures. Lifelong caregiver support is required, and patient lifespan is often reduced. Limited treatment options exist, and the only approved drug, Trofinetide, shows small effect size and tolerability issues, leaving significant room for improvement. With 350,000 Rett patients worldwide, including 34,000 in major markets, there is the chance for blockbuster success.

We are currently in the advanced hit to lead stage. We have strong genetic target validation for a novel Rett target, target PD assays developed and qualified to support lead candidate identification and have developed 3 distinct chemical series (NCEs), each demonstrating potency, selectivity and drug-like properties.

CD: Tell us about Gliachem’s team.

VW: Gliachem is in the process of incorporation, which will be complete by the end of 2023. Our team is currently our scientific co-founders – Dr. James Eubanks and Dr. Mark Reed – and myself as CEO. Over the next few months, we will be expanding the leadership team.

The technology originated in the lab of Dr. Eubanks at UHN. Dr. Eubanks is a neurodevelopment and molecular genetics expert with over 30 years of experience in academic research, including translational development. He is also a well-recognized KOL in Rett Syndrome. At UHN, he is a Senior Scientist and Research Division Head for Experimental and Translational Neuroscience at the Krembil Research Institute.

Dr. Reed is an accomplished medicinal chemist and expert in CNS drug discovery with over 20 years of experience in academia, biotech, and large pharma. He is currently the Director of the Center for Medicinal Chemistry and Drug Discovery at UHN, as well as co-founder and CSO of Treventis Corporation, a biotech start-up focused on protein misfolding related specifically to Alzheimer’s, who recently partnered their lead program with Takeda for $350M.

I have executive experience in the life sciences sector, including the scale-up and commercialization of small molecule therapeutics and diagnostics. Prior to Gliachem, I’ve most recently held VP Corporate Development roles in the diagnostics space, focusing on business and partnership development, sales and marketing, as well as M&A and fundraising.

CD: This was Gliachem’s first time at RESI. How did you initially learn about the conference and what did you think of the RESI experience?

VW: In a word, RESI was AMAZING. We learned about the conference from the Commercialization Office at UHN, who also supported our participation. We did the in-person partnering, as well as the Innovators Pitch Challenge (IPC). RESI curated a fantastic list of investor attendees, and the entire event was so smooth and well organized. The details about the investors that you could access through the partnering platform, especially if you elected the Premiere Mandate, was second to none. That enabled us to strategically target investors, making the whole meeting highly productive.

CD: What stage of fundraising is Gliachem in and what are your goals in 2024?

VW: RESI was the soft launch of our fundraising. We had the opportunity to meet with many early-stage investors from around the world and test both the market and our business plan. We had some very engaging meetings and positive feedback, and are ready to get into deeper discussions. We are raising a $3.2M CAD seed round, which will enable us to complete our hit to lead activities, identify an advanced lead, complete our proof of concept in a Rett animal model and initiate lead optimization. We are looking for strategic investors, who will not only provide financing, but who will also support us in this very exciting stage of early growth.

CD: Congratulations on your second-place finish at RESI Boston September Innovator’s Pitch Challenge (IPC)! What do you think was the key to your success at RESI September?

VW: Thank you! We are so proud of this accomplishment!

Aside from our team and technology, it absolutely was the amount of time we spent preparing. A 4-minute pitch is not easy. There is an opportunity to add a bunch more content than you would with just a standard elevator pitch, but you can’t overload. Coming up with a succinct message that focused on the problem, solution, differentiation and market opportunity was key. As tempting as it was to get deep into the science, we focused on the business opportunity.

The LSN and RESI resources were also invaluable. We attended the prep session you offered and followed the recommendations with respect to focus.

Preparation also applies to the investor meetings. Research the investors. Reach out to the right ones with a tailored and succinct message. And be persistent. Needless to say, many of my best meetings did not come from immediate replies to my initial message.

CD: What advice would you like to give to fellow entrepreneurs about RESI conferences?

VW: In short, do it! It was an invaluable experience. Take advantage of the IPC (including the poster area) as it does enable another level of exposure that you wouldn’t usually get. The judges also provided written feedback which we have used as we continue to evolve our pitch. Finally – prepare, prepare, prepare. Have a plan. There is a lot going on in a really short time, and to maximize the opportunities you need to have a plan. That said, don’t be constrained by your planning and be open to going with the flow. The serendipitous connections for me were just as valuable as the targeted ones.

By Rikki Piccirillo, Marketing Manager, LSN

In this episode, join host Dennis Ford, Founder & CEO, Life Science Nation; Creator of RESI Conference Series as he engages in a captivating conversation with Greg Mannix, a leading expert in the world of life sciences investment. Together, they discuss the exciting world of European startups making their way across the Atlantic to seek funding opportunities in North America, with a particular focus on the opportunities in the city of Boston.

Greg Mannix, a driving force behind the RESI Conference, shares his wealth of knowledge and experience in helping European entrepreneurs navigate the complex terrain of North American investment. As the Managing Director at Life Science Nation (LSN) and an advocate for international collaboration in the life sciences industry, Mannix offers insights into the strategies, challenges, and success stories of European startups entering the North American market.

Discover why Boston, often referred to as the “Silicon Valley of the East Coast,” is the prime destination for European life science companies seeking funding. Dive into the thriving ecosystem of biotech, medtech, and digital health innovations and find out how the RESI Conference connects these European innovators with the vast investment opportunities in the United States.

Shikha Sharma

Interview with Shikha Sharma, Senior Director, Innovation at California Life Sciences By Caitlin Dolegowski, Marketing Manager, LSN

Caitlin Dolegowski

Caitlin Dolegowski (CD): Please introduce us to California Life Sciences.

Shikha Sharma (SS): California Life Sciences (CLS) is the state’s most impactful life sciences membership organization, advocating for the sector and its diverse innovation pipeline. For more than 30 years, CLS has served the community by supporting companies of all sizes, from early-stage innovators and startups to established industry leaders in the fields of biotechnology, pharmaceuticals, and medical technology. As integral components of a healthy and collaborative ecosystem, CLS also works closely with universities, academic and research institutions, the investment community, and other critical partners that promote this vibrant sector. On behalf of our more than 1,200 member organizations, CLS works to shape public policy, improve access to breakthrough technologies, educate lawmakers, and advance equity within our ecosystem by championing innovative solutions for some of the most pressing challenges of our times. In doing so, CLS fulfills its mission to protect and nurture California’s life sciences industry, empowering discoveries that lead to healthier lives around the world.

CD: What type of companies do California Life Sciences consider for membership?

SS: CLS members represent companies of all sizes, from early-stage innovators and startups to established industry leaders in the fields of biotechnology, pharmaceuticals, and medical technology. As integral components of a healthy and collaborative ecosystem, CLS also works closely with universities, academic and research institutions, the investment community, and other critical partners that promote this vibrant sector.

CD: What stage of fundraising is California Life Sciences looking to support?

SS: The CLS Innovation & Entrepreneurship programs primarily support early-stage companies in fundraising stages from pre-seed to Series A. However, the broader CLS community encompasses members, companies, stakeholders, and pharma industry professionals with accessibility to later stage fundraising know-how and connections. Becoming part of CLS gives you access to a broad network that can directly and indirectly support companies in any stage of fundraising.

CD: Clearly, California Life Sciences, is in California. Though, not all your members are located in California. What are your geographic qualifications?

SS: We don’t have geographic qualifications, per se.  CLS welcomes any organization that is looking to access, expand and/or maintain a foothold in what I would consider the most robust life sciences ecosystem worldwide.

CD: What works well for California Life Sciences in being a part of the RESI experience?

SS: As part of our portfolio of entrepreneurship services, CLS seeks to establish partnerships with respected partnering and investor conferences to aid our members in the fundraising journeys. Importantly, opportunities like RESI connects them with Seed and Series B investors, channel and licensing partners.

CD: What other information is important for companies to consider about California Life Sciences?

SS:  California Life Sciences’ innovation and entrepreneurship initiatives connect life science startups to the resources needed to help them effectively scale their ventures. Our programs create a platform for accessing business partners, investors, foundations and patient advocacy organizations, peers, and other industry leaders.

Designed to nurture and advocate for emerging and diverse innovators from throughout the state, CLS offers advisory services, positioning for capital tools, access to capital through strategic partnerships and events and US market access resources to help in the development and commercialization of their business.

Maree Beare

Interview with Maree Beare, Founder at Clinials By Caitlin Dolegowski, Marketing Manager, LSN

Caitlin Dolegowski

Maree Beare, Founder at Clinials, is a sector leader in HealthTec, FemTech and BioTech innovation. In 2021, Maree launched her second innovation, a BioTech company Clinials. Clinials is an AI-Driven clinical trial participant recruitment platform based in Brisbane, Australia, and a member of BEDA (Brisbane Economic Development Agency). Maree speaks with us about being a part of BEDA’s MedTech Accelerator cohort and her introduction to Life Science Nation followed by her eventual second-place finish in the Innovator’s Pitch Challenge at RESI Boston June earlier this summer.