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RESI Is Now Offering Investor Spotlight Package

22 Feb

By Natasha Eldridge, Director of RESI Conference Series, LSN

natasha-wp-newThe Redefining Early Stage Investments Conference (RESI) is now offering an Investor Spotlight Package, which for the first time allows investor firms to be featured and stand out from more than 300+ investors attending the 2018 RESI Toronto conference.

Investor Spotlight Package includes the following:

  • A Dedicated, Branded Partnering Table in the partnering forum. This is your table and a great opportunity to have an established highly visible spot in the partnering room where companies can meet you. The table will be branded by your firm’s logo and name.
  • Featured Investor Profile on the RESI website, in the hard copy and digital version of the RESI Conference Program Guide, and in the RESI Partnering System – making your investment mandate visible to RESI attendees.
  • Special mailings of your firm’s profile to all RESI Companies that are a fit for your firm’s mandate.

To qualify you must be:

  • Investment staff involved directly in an early-stage life science or healthcare venture capital or private equity fund.
  • Investment staff at a family office or private wealth fund that invests in life sciences.
  • External innovation, early-stage partnering or in-licensing staff from major corporations in the life science and healthcare industry.
  • Active life science angels or executive staff at angel organizations that invest in early-stage life science companies.
  • Investment staff and executives at nonprofit organizations, venture philanthropy/impact investment firms or patient groups that provide funding to startup companies.
  • Senior management or investment staff from a pension, endowment, foundation or employee benefit plan currently invested in life sciences.

For more information, please contact us

at 617-600-0668 or resi@lifesciencenation.com

22

A Canadian Fundraising CEO’s Success at RESI

22 Feb

Anton Neschadim

An interview with Anton Neschadim, CEO, ImmunoBiochem
– By Chris Cummings, Senior Marketing Manager, LSN

Chris Cummings

Chris Cummings: What is your background, and how long have you been working in the life science space?

Anton Neschadim: I am a scientist-entrepreneur. I have a very deep, multi-disciplinary science background that I ultimately combined with a business degree, all from the University of Toronto. I am a lateral thinker, and as such always strived to be a subject-matter expert across multiple areas. And so, contrary to the traditional path of specialization in academia, I wanted to become a problem solver and innovator, and sought to master additional disciplines with every degree – chemistry, physics, immunology, cancer research, regenerative medicine. I believe that being able to draw on knowledge from multiple disciplines is key to generating creative insights. I transitioned into industry eight years ago, in the final year of my PhD, and took up a drug development role in a biologics program, while continuing to work in an academic lab evenings and weekends to amass more than 25 manuscripts and patents. Three years ago, I have focused on leading ImmunoBiochem with an exciting novel biologics program.

Chris Cummings: Are you currently fundraising? What previous financing or milestones has your company achieved (that you can disclose)?

Anton Neschadim: We are always fundraising, and are targeting to close another round led by current investors and partners in March. Our first deal was with one of the RESI sponsors and helped us develop fully-human antibody molecules for our lead target, and the subsequent angel-led round allowed us to develop a lead that we showed to be both efficacious and safe in preclinical animal tumor models. This new round will take our lead molecule into large animal studies, but we are eager to get into the clinic and are looking for additional capital to get us there.

Chris Cummings: How many RESI conferences have you attended previously, and when was your first event? Was ImmunoBiochem fundraising at the time?

Anton Neschadim: I have now attended three RESI conferences with the goal of raising funds every time – two in our hometown of Toronto, and the latest RESI during the JP Morgan healthcare week in San Francisco. We have closed a deal or round subsequent to each conference, and are on track to closing another round of financing following RESI in San Francisco. RESI has been extremely helpful for connecting with smart early-stage capital and learning how to better develop and tell our story to a broad range of investors. You know you have done well when you have new investors reaching out to you to learn more.

Chris Cummings: What components of RESI do you find most valuable? Do you spend most your time in partnering, or try to attend panels as well? When you participated in the Innovation Challenge, what aspects did you find beneficial?

Anton Neschadim: I tend to spend at least half of my day in one-on-one meetings, and then network with investors free-form outside of that. Panels and different tracks can help you be more targeted with the latter. I find the half-hour partnering format to be very optimal – just the right amount of time to make a connection with the investor, tell your story, answer questions, and for you to learn more about the investor’s interests and ask for feedback. The Innovation Challenge provides great exposure and is like real fundraising. It helps to have a team and to ultimately hold as many meaningful conversations as possible.

Chris Cummings: What advice can you give to other fundraising entrepreneurs attending RESI? For example, do you have any suggestions on mastering partnering, or perhaps maximizing your visibility in the Innovation Challenge?

Anton Neschadim: Visibility and being able to highlight your novelty and differentiation are paramount. What I found to be most useful is to have a team on the ground. It is great to have at least one person to move around the event, strike up conversations and bring people to your poster, while another is taking one-on-one meetings. When it comes to one-on-one meetings: register early and start requesting meetings as soon as partnering opens or even before that – spots fill up really fast. Do your research and target the right investors, avoid generic or overly long messaging, and manage time efficiently during the one-on-one meetings. The main goal is to get a second meeting or follow up.

About ImmunoBiochem

ImmunoBiochem is addressing significant unmet needs in oncology by developing highly-selective biological therapeutics. The majority of targeted biologics, which are focused on identifying and targeting unique features on the surface of cancer cells, face the challenge of tumor heterogeneity and general lack of selective tumor antigens, particularly as more potent platforms are utilized. CAR-T therapies are very exciting, with a single CAR-T cell being able to terminate from hundreds to thousands of cancer cells, but the current generation is extremely limited by very few suitable targets, such as CD19. The second generation of CAR-T therapies in the clinic will have to find a way to derive that selectivity from other mechanisms. To circumvent these challenges of surface-targeted biologics and cell therapies, ImmunoBiochem is solving this problem by combining a highly targeted and precise therapeutics platform – antibody-drug conjugates or ADCs – and non-traditional targets in the secretome of cancer cells that are amplified in the tumor microenvironment. ImmunoBiochem has defined a novel class of targets by isolating proteins with specific properties that are necessary to achieve selective and efficacious targeting of tumors with ADCs.  ImmunoBiochem was the original inventor of this technology and has tested this concept within an academic institute, and then developed a lead human antibody molecule in collaboration with the University of Toronto. Today we are supported by multiple organizations, including Johnson & Johnson Innovation (JLABS), where ImmunoBiochem is based, CCAB (the Centre for the Commercialization of Antibodies and Biologics), our key development partner and investor, OBIO, through membership and the CAAP program, and H2i at the University of Toronto.

When Raising Capital, CEOs Should Understand the LSN Value Proposition

22 Feb

By Skylar Jacobs, Business Development Manager, LSN

As Next Phase discussed two weeks ago, the world of early stage biotech and medtech investment is far less than straightforward and CEOs often have limited resources for learning where they fit into the capital landscape. In this article, we’ll look more closely at how LSN designed the LSN Investor Platform to address this problem.

Finding and Connecting with Investors that are a Fit for Your Company

LSN has found that the biggest difficulty for fundraising executives is identifying active investors that are a fit for their stage of development and product.  When raising a seed or series A financing, most executives go straight to a few brand name VCs and angel groups in their backyard, and, mistakenly, think this is going to get the job done. The reality is that fundraising is a numbers game, and there are thousands of groups across the world that are not currently known to the fundraising team, but may be a great fit for your venture. The problem is how to efficiently identify these groups, if they are a fit and, most importantly, how to reach them.

Global Matching Platform

Through this outreach, LSN has created the LSN Investor Database, giving fundraising executives the ability to generate a global target list of investors who are a fit for their company.  Like all databases, there is a front end of the active players – which is approximately half of our total network– which includes profiles of firms in active dialogue with the LSN Research Team and profiles of firms that have enough publicly available information/contact details to be listed.  The back-end of the database contains investors that have requested that LSN match them with fundraising companies but prefer not to be listed in the front end, investors we have identified but are not currently investing, and profiles that will be moved into the front end once we have enough data to justify value. The good news is that we think we have identified about 85% of the global early stage investors.  The functionality of the LSN Investor Database allows you to easily apply filters to generate a list of firms who are a fit for your company, which usually leaves about 300-500 firms as initial targets to begin initial qualification and potential interest.

Pricing

The LSN team has conducted an analysis of hundreds of successful fundraising campaigns and has determined that, on average, a start-up company can expect to spend between $70,000 to $100,000 on their fundraising efforts.  These costs include: creating and maintaining your marketing materials and web presence, business trips, conferences, partnering road trips and other miscellaneous costs.

Campaign Component
Typical Cost
Creating and maintaining your branding, messaging, marketing collateral and web presence for a year
$25,000 – $30,000
One conference per quarter, travel and expenses
$12,000 – $20,000
1-2 week road trip per quarter, two people
$10,000 – $15,000
Global target list of investors and campaign infrastructure
$10,000 – $12,000
Legal and professional fees
$10,000 – $20,000
TOTAL
$67,000 – $97,000

The LSN Investor Platform is competitively priced at $6,995 for an annual subscription to fundraising executives.  This pricing is based upon making you, the fundraiser, more effective and efficient by dramatically increasing your access to global investors that are a fit for your company’s stage of development and product. Pricing justification is that the annual subscription costs:

  • 10% of typical fundraising campaign costs
  • Approximately $25 per targeted investor profile

The LSN Research Team has done the work for you to collect details regarding exact investment interests, typical allocation size, fund vintage, company management team requirements, past investment history, and personal contact details for Partners, Directors, and C-Level Executives at each firm – information that is rarely found in other investor profiles. The price of the LSN Investor Database includes: initial identification of our client’s global target list of 300-500 investors, a consultation on your introductory marketing materials (intro email and deck), campaign outreach advice, and email alerts including updates of investors added to the platform who are a fit for your company.  Additionally, the LSN Investor Platform includes an export function that provides startup CEOs with data that can be imported into a CRM system to manage outreach and track the progress of every investor relationship.  LSN has already integrated with SalesForce.com to make this process seamless for our clients.  In total, LSN offers a complete package for fundraising executives to ensure they have the strategy and investor targets necessary to conduct a successful capital raise.

The Redefining Early Stage Investments Conference Series

In addition to the LSN Investor Platform, the RESI Conference is another tool provided by LSN for fundraising CEOs. The RESI conference allows entrepreneurs to meet face-to-face with up to 16 relevant investors in one day and begin to develop a personal relationship with them. Subscribers of the LSN Investor Platform have a powerful tool that allows them dig into the investors’ profile prior to the meeting to understand the investors’ interests and preferences, greatly increasing the quality of an intro discussion and making the best use of their face-time. Using the LSN Investor Platform and RESI conference in parallel creates a tremendous value for any fundraising CEO in the early-stage life science space by not only providing the connections, but also by facilitating face-to-face interactions.

In Summary

LSN estimates that approximately 250 clients who read our CEO’s book, The Life Science Executive’s Fundraising Manifesto, purchased the database, and participated in the RESI Conference Series have raised upwards of 350 million dollars.  LSN’s value add to a fundraising CEO and scientist/entrepreneur is equivalent to 5 years’ work by 6 LSN research analysts, curating your Global Target List (GTL), which is at least 50% of the effort of raising capital – finding investors that are a fit for your stage of development and product.

The personal connection between the LSN research team and an investment firm allows LSN to capture and utilize a unique flow of information and provides an unmatched tool for fundraising CEOs to understand the players in their space, their nuanced preferences/strategies and a way to begin a dialogue with them. No other service or data provider comes close to the focused, high touch, relationship-oriented nature of data collection and maintenance.

A Relationship-Transactional-Based Conference: LSN’s Redefining Early Stage Investments Conference – What’s Different?

15 Feb

By Dennis Ford, Founder & CEO, Life Science Nation; Creator of RESI Conference Series

RESI takes place every few months and is a “rolling” ongoing conference series that provides a vehicle to regularly meet with potential partners. No other conference provider has instituted this kind of format. Most conferences are either annual or bi-annual. At RESI, the two main constituencies – scientist/entrepreneurs and investors/strategic partners – have an ongoing opportunity to connect based on fit (i.e. type of product, stage of company, size of raise and other criteria), create a dialogue that grows into a relationship and eventual partnership. LSN has found that having a conference series where buyer and seller can easily meet and follow up every few months greatly aids the building-a-relationship process.

The state of the partnering-conference model that LSN saw when we launched RESI was mostly content-based informational conferences with a partnering software program you could use to set up meetings.

LSN added a matching module for the pairing-up of profiles of the early stage buy-side and sell-side players. RESI is a relationship-based partnering conference and not a content-based informational conference. There is a huge difference in the two models. I recently wrote an article about the subject.

Partnerships take time to move down the tracks, and the RESI conference provides a one-of-a-kind vehicle: a series of ongoing meetings in various geographic life science hubs that has become an industry-wide vehicle to identify, meet and continue a dialogue with potential partners. For both the sell-side and the buy-side, establishing and consummating partnerships is a full-time job. RESI makes it easier for both sides. Scientist/entrepreneurs find investors/strategic partners and investors/strategic partners source technology assets.

Most life science conferences, even though some have partnering, are still information-centric: paid speakers, panels of industry trends and programming around providing information and education. RESI is relationship-based, so no paid speakers – as a matter of fact, investors vie for speaking spots because of the status that is associated with being on a panel at a RESI conference. Most conferences are silo specific – either drugs, devices, diagnostics or healthcare IT. RESI covers all these silos, and that’s a plus for investors and strategic partners whose mandates cut across several verticals.

RESI is purely partnering-based, and the content and panels revolve around the investors’ and the strategic partners’ existing mandates. RESI’s Workshops are all about helping with various start up issues: from valuations, to negotiating LOIs, to branding and messaging, to fundraising boot camps. No FDA, no BREXIT, no lending or debt, just very focused on connecting and navigating the early-stage arena. It’s all about learning and interacting with investors and strategic partners.

“The 10 Myths of Fundraising” Presentation at Freemind Group’s Non-Dilutive Funding Summit

15 Feb

By Claire Jeong, Research Analyst, LSN

claire

At the 13th Annual Non-Dilutive Funding Summit on January 10th during JPM, Life Science Nation (LSN)’s Founder & CEO, Dennis Ford presented to an audience of actively fundraising, early-stage life science entrepreneurs. “The 10 Myths of Fundraising” session helped provide fundamental context on the daunting fundraising process, from proper branding & messaging to creating a Global Target List (GTL) of investors and how to utilize these materials for a successful fundraising campaign. Most importantly, the session walked through the top 10 myths in fundraising, uncovering the truth to these common misconceptions and providing realistic insights that every fundraising CEO should know.

For those who missed out, we are happy to be able to provide a video of this presentation! If you are interested in delving into the topics covered in the video and beyond, be sure to take a look at Dennis’s book, The Life Science Executive’s Fundraising Manifesto.

A Compelling Early Stage Buyer – Seller Matching Platform

8 Feb

By Cole Bunn, Senior Research Analyst, LSN

cole-wpThe world of early stage biotech/medtech investment is far less than straightforward, and entrepreneurs who have been through the arduous, frustrating process of raising money will second that. Adding to this challenge, other than a personal network, fundraising CEOs have limited resources for learning which investors are in their universe and how to get in touch with them – LSN was founded to address this exact problem.

When raising a seed or series A financing, most people’s mind goes straight to a few brand name VCs and angel groups in their backyard, and mistakenly think this is going to get the job done. The reality is that fundraising is a numbers game, and there are thousands of groups across the world that are not well known and don’t necessarily fall into one of these investor buckets, but may be a great fit for your venture. The problem is that you have no efficient way of identifying who these groups are, if they are a fit and most importantly, a way to reach them.

Over the past 5 years, the LSN research team of Research Analysts has been dedicated to uncovering these groups, building a relationship with the associates and partners of the firm and capturing critical data points on their interests and investment criteria, and most importantly, building out a custom profile that details the firm’s specific interests, how they structure their investments and how much money they put into companies. In the LSN Investor Platform, we have amassed just over 5,000 profiles of investment firms (over 2,000 of which are actively investing), across the globe including angel groups, venture capital firms, corporate VCs, big pharma and other corporate strategics, family offices, venture philanthropy groups, endowments/foundations, hedge funds, private equity firms, government organizations and institutional alternative investors who are investing in the early stage life science space. The functionality of the LSN investor platform allows you to easily apply filters to generate a list of these firms who are a fit for your specific company and financing, which usually leaves about 300-400 firms as initial targets to begin parsing.

The personal connection between the LSN research team and an investment firm allows LSN to capture and utilize a unique flow of information and provides an unmatched tool for fundraising CEOs to understand the players in their space, their nuanced preferences/strategies and a way to begin a dialogue with them. No other service or data provider comes close to the focused, high touch, relationship-oriented nature of data collection and maintenance. It’s clear that no CEO or startup management team would possibly be able to identify 300-400 relevant investor targets, much less capture a detailed understanding of their mandate and a way to contact them, regardless of the amount of time they have to research investors. Additionally, the LSN Investor Platform includes an export function that provides startup CEOs with data that can be imported into a CRM system to manage outreach and track the progress of every investor relationship.

The LSN Investor Platform serves as the core of everything LSN does. The RESI Conference, an early-stage investment/partnering event that allows entrepreneurs to meet face-to-face with up to 16 relevant investors in one day, is powered by the LSN Investor Platform. The RESI conference allows entrepreneurs to meet these investors in person and begin to develop a personal relationship with them. Subscribers of the LSN Investor Platform have a powerful tool that allows them dig into the investors profile prior to the meeting to understand the investor’s interests and preferences, greatly increasing the quality of an intro discussion and making the best use of their facetime with the investor. Using the LSN Investor Platform and RESI conference in parallel creates a tremendous value for any fundraising CEO in the early stage life science space who is looking to find relevant investors, understand their mandate and begin a dialogue in an efficient and cost-effective manner.

An Investor Database That Works

8 Feb

By Lucy Parkinson, Director of Research, LSN

LSN created the LSN Investor Platform, which is the only early stage life science investor platform that goes across the silos of drugs, devices, diagnostics and healthcare IT. Over 600 clients have used this service, raising millions of dollars from investors located all around the globe. We’ve recently updated our video to reflect the latest generation of the cloud-based investor and strategic partnering database – take a look below!