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In Partnership with KOTRA: Uncovering the Korean Biotech Start-Up Scene at RESI Boston

17 May

By Claire Jeong, Research Analyst, LSN

claire

Even with the RESI Boston conference less than 3 weeks away, the upcoming conference continues to attract an international crowd of early-stage companies and investors. In last week’s newsletter, we discussed how over 1/3 of the registered attendees are coming from firms based outside of the USA. For this particular event, Life Science Nation (LSN) has been working closely with the Korea Trade-Investment Promotion Agency (KOTRA) to showcase innovative technologies from South Korea across therapeutics, medical devices, diagnostics, and digital health.

The Korean biotech ecosystem has certainly been growing in all aspects. This year, the government has pledged to invest over $328M (USD) to support the development of new biotech (1). For many years, South Korea has been well-established as a R&D hub – beyond the capital city of Seoul, other cities to keep an eye on include Songdo International City (home to large biotech companies, including Celltrion and Samsung BioLogics) and Daejeon (home to KAIST and a newly established biocluster, the DAEJEON Bio Venture Town). An increasing number of pharmaceutical groups are seeking innovations globally for in-licensing and equity investment. Some groups, like Yuhan Corporation, are planning to expand their operations in the USA, among other developed nations (2).

With these series of recent developments that have been contributing to the growth of Korean biotech/healthcare technologies, it is only natural that more start-up companies are seeking to meet and partner with global firms. Without further ado, here are the Korean companies that are attending and available to meet at RESI Boston!

Korea Trade-Investment Promotion Agency (KOTRA):
 KOTRA, a global business platform, supports small and medium-sized Korean enterprises to explore overseas markets through its 127 offices/networks in 87 countries around the world. This year, KOTRA has partnered with KoreaBio (Korea Biotechnology Industry Organization), KIMST (Korea Institute of Marine Science & Technology Promotion) and COMPA (Commercialization Promotion Agency for R&D Outcome) in presenting a number of promising Korean biotech startups to the world. KOTRA strives to share its expertise and collaborate with these organizations to help biotech startups succeed, continue to grow, and expand its business abroad.

Korean Free Economic Zones (K-FEZ):
Korean Free Economic Zones are specially designated areas created to improve the business and living environment for foreign-invested firms in Korea. Since the 2003 inauguration of an FEZ in Incheon, the number of FEZs in operation has grown to eight: Incheon, Busan-Jinhae, Gwangyang Bay Area, Daegu-Gyeongbuk, Saemangeum-Gunsan, Yellow Sea, East Coast and Chungbuk.

Deep Medi Inc:
DeepMedi developed the first monitor able to read blood pressure from only a smart phone camera without additional special  equipment. Using their artificial intelligence based model, the user can estimate blood pressure from a pulse wave.

L-BASE:
L-BASE has developed new peptide drugs for multi-drug-resistance cancers. By controlling the function of a new CTA (Cancer-Testis Antigen), CAGE, these peptide drug candidates can solve multi-drug resistances in cancer, especially lung cancer with T790M mutation and breast cancer. These drug candidates are a first in class in multi drug resistance and now at the stage of IND preparation. L-BASE has published more than 15 international papers on CAGE functions, and has applied for several IPs about peptides drug candidates which control CAGE function.

CellSafe:
CellSafe is developing the first bone graft products with dual functions of bone formation and the inhibition of bone destruction which will replace BMP2 (Bone morphogenetic protein 2) products.

 

MDimune:
MDimune is developing innovative therapeutics for cancer and COPD in order to solve the highly unmet medical needs with BioDrone® technology, which is a target specific drug delivery platform based on artificial exosomes derived from human cells such as immune cells and stem cells.

NosQuest, Inc:

NosQuest is a diagnostics company that develops analytical software and databases to identify microorganisms as well as to diagnose stages of diseases (currently breast & ovarian cancers).  NosQuest is also developing an artificially intelligent cloud-based platform for library diagnostics where hospitals and eventually, patients can access the platform for diagnosis/prognosis.

RadianQBiO:
RADIANQBiO offers breakthrough on-site microchip platforms in resource-poor settings for solving many global heath care challenges, such as rapid detection & prevention of foodborne and waterborne pathogens, to broaden access to unrestricted healthcare & pharmaceutical services, e.g. super-easy platforms for rapid drug screening & clinical trials.

PANAGENE Inc:

PANAGENE is a sole provider of PNA (DNA analogue) for commercial use and has its own technologies for mass production and various application of PNA. PANAGENE’s diagnostic products are used to identify personalized medicine for patients with various cancer and to detect infectious diseases. Also, PANAGENE developed the first in class detection kit in liquid biopsy in Korea.

Optolane Technologies Inc:
OPTOLANE is a semiconductor integrated In-Vitro Diagnostic (IVD) platform company that is developing POC-MDx solutions of real-time PCR (qPCR) and digital PCR (dPCR) system by using CMOS sensor based technology.

THE WAVE TALK:
THE WAVE TALK developed a laser-based sensor detects any impurity (including bacteria), even in running water, and continuously and non-disruptively sends a signal to any device, including mobile applications. Their laser-based sensor is extremely more accurate than conventional lasers and is able to detect even low concentrations of bacteria based on its movements in real-time.

Infit & Company Inc:
Infit & Company Inc. was established on the disruptive biological tissue-analyzing technology to fulfill new paradigm of healthcare. Quantified and physiological value will be used in various wellness and medical applications such as belly fat scanner, breast cancer diagnosis device.

ImmuneMed Inc:

ImmuneMed was established in 2000 as one of the pioneer biotech venture companies in Korea. The platform technology of ImmuneMed is phenotype-based excavation of antigen & antibody. First in class anti-viral immunoglobulin (IgG4) drug candidate is effective for hepatitis B, hepatitis C, influenza and dermatitis. Original IP of drug candidate was issued in 2004 and Material IP was applied in Korea and 8 regions around the globe (2016).

Quratis Inc:

Established in 2016 as a venture company, Quratis works as an important base for research partners to cover the Asian region including China with its TB vaccine and other products. Quratis, which has a long-term joint research project with Yonsei University Health System, concluded an exclusive license agreement with research partners for a tuberculosis vaccine in 2017.

Bally’s Co., Ltd:
This young social venture company manufactures pet food by up-cycling agricultural and fisheries products, which are undervalued with its corporate mission of “no life to be dumped”.

 

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Finding Investment Opportunities At RESI: An Interview with Andy Li (Biosense Global)

17 May

Andy Li

 An interview with Andy Li, CEO & President, Biosense Global

– By Jessica Yang, Investor Research Analyst, LSN

Jessica Yang

Earlier this week, I had the pleasure of speaking with Dr. Andy Li, the founding partner of Biosense Global LLC. Andy has attended nearly every RESI event in the last 2 years. RESI is a partnering event that enables early-stage life science, MedTech and digital health companies to meet and interact with investors and strategic partners based on mutual fit. Recently, we learned that Biosense Global has invested in two companies that Andy first met at RESI.

In this interview, Andy discusses his perspectives on his RESI experiences, Biosense Global’s investments in companies attended RESI, and some suggestions for fundraising CEOs.

Jessica: To begin, please tell us a little bit about your background and your fund.

Andy: My name is Andy Li, and I am the founding partner of Biosense Global LLC. I have more than 25 years of biomedical research and biopharmaceutical industry experience with proven track records in global drug development in multiple therapeutic areas, alliance management, and business development. Currently, Biosense Global invests in early to mid-stage biopharma and Medtech projects. With our R&D facilities in China, in-licensing assets from the U.S. and Europe to China would be an important consideration.

Jessica: How many RESI conferences have you attended? What was your first impression of the RESI Conference series?

Andy: I’ve attended RESI conference six times to date, and the upcoming Boston one will be the seventh. One thing I enjoyed about attending RESI is that I think RESI attracts early-stage companies with good qualities. The companies I met in the previous RESI have solid science and great teams, and RESI allows investors and companies from around the globe to build connections easily.

Jessica: What successes have you experienced through RESI?

Andy: We’ve invested in a company focusing on immuno-oncology that I first met in RESI. The company is called PrimeVax, and this company uses a combination of the dengue fever virus and autologous dendritic cells to induce a strong immune response along with personalized tumor targeting. In addition, we’ve invested in another company call Curtana Pharmaceuticals. I met this company at a previous RESI conference, and we continued a great relationship that eventually led to an investment. Curtana is developing therapies for the treatment of brain cancer, including glioblastoma in adults and pediatric high grade glioma in children.

Jessica: In your opinion, what are the greatest strengths of RESI?

Andy: RESI is a well-organized conference, especially in its online partnering system. Compare to many conferences I’ve attended before; I think RESI has a solid platform that allows investors to have a better understanding of attending companies and book meetings easily online. Also, since Life Science Nation has great connections with many companies in your platform, I think this helps you in organizing the RESI conference, and your significant portion of company connections also help us to find ideal companies that match our investment criteria. Another thing is that I think you choose great times to hold RESI conferences, for example, you hold RESI concurrent with BIO or JPM, and this attracts investors to attend all these events at one time to reduce travel inconvenience.

Jessica: What were some aspects that differentiated the companies you’ve invested in vs. others?

Andy: Overall, I’ll look at three aspects. First and the most important one to me is whether the company’s technology is unique and innovative. Second, I’ll look at the company’s management team – I prefer a solid team with relevant experiences. Last, I think it’s also essential that the company’s investment value is reasonable.

Jessica: How can companies better prepare for an initial meeting with your group?

Andy: Sometimes, early-stage companies that founded by scientist-entrepreneurs may only focus on the technologies. I’ll suggest companies try to touch on technology, IP, commercial potential (more important for not well-known indications), competitor analysis, and fundraising plans, etc.

Jessica: Do you have any suggestions for RESI?

Andy: It would be great for you to give suggestions for attending companies to know what aspects they can cover in their presentations and slide decks. This will help increasing companies’ qualities in RESI.

About Biosense Global LLC:

BioSense Global, LLC is an NJ-based venture investment firm that was founded in 2016 and focused on bridging Eastern and Western innovations and investment opportunities. Biosense invests in early to mid-stage biopharma and medtech projects. In addition, the company has R&D operations in China. Biosense is currently looking for new opportunities globally.

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Big Pharmas Explain Partnering Strategy At RESI On June 4th

17 May

By Lucy Parkinson, VP of Investor Research, LSN

In recent years, big pharma companies have begun looking outwards for innovative new therapeutics to add to their pipelines.  RESI has become a venue for these major players to make connections with early stage biotech companies, and RESI includes a panel on Big Pharma to provide entrepreneurs with an opportunity to learn directly from experienced pharma scouts on how to find the right partner and get a deal made.

This panel will feature five speakers from various big pharma companies discussing topics such as:

  •     How does big pharma source these assets?
  •     How does the evaluation and investment process work?
  •     How can a startup position themselves to make a deal?
  •     What are some key factors that big pharma companies look for?
  •     How early stage is big pharma willing to look?

These panelists will shed some light on the process that big pharma goes through when sourcing early stage assets and advise startups on how they can best make a case for themselves. Panelists will also explore various trends within the therapeutics marketplace, what assets are of interest to their company, and what they think will be big in the future.

The panelists are:

  • Aaron Schwartz, Director, R&D Innovation Sourcing, Novo Nordisk
  • Brian Bronk, Head of External Innovation, Rare Diseases, Sanofi
  • Murali Gopalakrishnan, Sr. Director, Head Search & Evaluation Neuroscience, AbbVie
  • Nicola La Monica, Senior Director, Infectious Diseases and Vaccines Scientific Innovation, Johnson & Johnson Innovation, Boston
  • Yvonne Kobayashi, Sr Director, Emerging Technology & Innovation, Eli Lilly & Co

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RESI Partnering Is Live: Book One-on-One Meetings For June 4th Now

10 May

By Lucy Parkinson, VP of Investor Research, LSN

On Monday June 4th, RESI will kick off Boston’s life science week with a full day of focused one-on-one partnering meetings, as well as panel and workshop content that covers the full nuances of early stage fundraising. With less than a month to go, RESI Partnering is now live, and it’s time to get your meeting requests out to these investors – and more. You can register online now！

Confirmed Investors and Strategic Partners

As of May 7

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At RESI, You Can Make New International Connections with Investors and Scientist Entrepreneurs

10 May

By Karen Deyo, Investor Research Analyst, LSN

Over a third of registered attendees for RESI on June 4th come from firms based outside the US. That’s an incredible audience for any early stage life science entrepreneur or investor who is looking to broaden their network and make new international connections in the global early stage life science world.

RESI’s international attendees include both startups and investors. With RESI’s afternoon track on Asia-North America Partners, LSN has seeded a venue where international connections can be made, and on June 4th RESI will be a source for both international investors and also global life science discoveries.

Life science startups from around the world have applied to the Innovation Challenge, representing countries such as Canada, France, Taiwan, and also including a large delegation from South Korea sponsored by KOTRA. Other startups attending RESI come from as far away as Australia, Argentina and Denmark.

The investors attending RESI are also from all around the world, including countries such as Malaysia, Japan and Germany. International attendees include family offices, venture capital firms, venture philanthropists and large strategic partners from across the word.
Attending RESI is a great way to meet and connect with the international life sciences community, both for companies looking to form relationships with investors and for investors looking to identify new and exciting technologies.

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RESI 101: What Is RESI, What’s the Format, and Who Can You Meet There?

10 May

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

The Redefining Early Stage Investments (RESI) Conference Series is an ongoing conference series of 5 events across North America for early stage life sciences companies to source investors, create relationships, and eventually, get funding.  If you’ve never been to RESI, there’s a lot to take in.  In this article we’ll cover who you can meet at RESI, what happens throughout the day, and how RESI’s format maximizes your chance of making connections.

The RESI conference focuses on the diverse breadth of early stage investors that Life Science Nation (LSN) tracks, including Family Offices, Venture Philanthropy Funds, VCs, Angel Groups, Corporate Venture Capital Funds, and more.

The RESI Partnering Forum allows fundraising executives to identify and book up to 16 meetings with life science investors who fit their company’s technology sector and stage of development. Because RESI is a pure partnering conference the “ad hoc” meeting component is critical as the conference is arranged so that it is easy to network and investors and strategic partners have red ribbons on their badges which facilitates introductions with the scientist-entrepreneurs and fundraising CEOs who are at RESI to meet them.

Attendees, through an expansive series of panels and workshops, have the chance to hear first-hand accounts from investors explaining their current investment mandates and process for identifying and qualifying candidates.

Event format

RESI provides wrap around conference content, daylong matchmaking and networking. While the matchmaking focuses on 1 to 1 meetings and appointment setting, it is different than other similar investor events. No one is hosted. The companies that seek funding pay to attend. The investment organizations are invited to attend at no cost. As the partnering system will match the buyers and sellers together based on fit there is no guesswork as to who is selling to who which is a common problem at other events where partnering is an afterthought.

RESI Innovation Challenge: The Innovation Challenge takes place at every RESI conference and is a huge hit with early stage global investors seeking firms that align with their investment mandates. It was created for scientist-entrepreneur or fundraising CEOs starting to accumulate compelling proof-of-concept animal data or early stage clinical data. LSN has developed an expert system that facilitates the quick scoring and ranking of all of the companies and their technology assets that apply to get into the Innovation Challenge. A typical RESI conference gets over 100+ applications and LSN vets and ranks the top 30 applicants who present their technologies in an exhibition-style format throughout the full-day conference. Presenters gain additional exposure to investors and potential partners by showcasing their companies and products in a poster format. Unlike traditional 5 to 15-minute pitch presentations that do not allow any real interaction and provide no actionable feedback from investors, the RESI Innovation Challenge enables executives to pitch directly to attendees, generating more in-depth conversations with more investors.

Attendees

Funding seekers – CEOs and senior executives from life science organizations, and scientist-entrepreneurs who have invented potentially valuable technology assets.

Investors – ten categories of early stage investors and strategic channel partnerships in life science or healthcare including

  • 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 lifescience 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.

Exhibitors –

  • Scientific and technical service providers looking for early stage start-ups: CROs, CMOs.
  • Business service providers: accounting, consulting, law firms.
  • Regional life science organizations: incubators, accelerators, state government, bio-clusters.

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Insights from Genomics Investors Panelists

3 May

By Jessica Yang, Investor Research Analyst, LSN

During RESI on MaRS – as part of Toronto Health Innovation Week – we invited five panelists from renowned investment groups focusing on genomics to share their insights. How do they assess the genomics-related areas of investment?

Moderated by Ihor Boszko, Vice President, Business Development, Ontario Genomics, the Genomics Investor Panelists were:

Here are some takeaway points from the panel discussion:

Tools, platforms, and technologies
Q: What do you see as exciting opportunities on the platforms/tools side of genomics? Is it in the decentralization of sequencing? Other genomics technologies?

  1. The key is to think about what kinds of applications and markets these companies are targeting. When investors look at new sequencing platforms, they are thinking about what differentiates these new technologies from centralized sequencing – what can these platforms do that centralized sequencing cannot? For innovative genomics companies, they must identify their target markets and specific applications they want to address in the decentralized models.
  2. From different angles, all points to the same direction – the guiding principle of making investments in the healthcare arena is looking for unique and differentiated technologies that address unmet needs. The other is costs, anything expanding access while lowering the cost speaks to investor’s interests. For example, platform technologies that make things cheaper, better, or faster, making it practical in clinical settings – this is what the investors are looking for.

Direct-to-consumer in Genomics

Q: What do you think about direct-to-consumer products in Genomics?

  1. More and more direct-to-consumer products come out on the market, and it’s getting easier for everyone to do it. However, genetics and genomics are complicated. In the current healthcare system, most people aren’t trained to order or interpret the results. The challenge is that training and sophistication will lag behind the technology for computers.

Some of these direct-to-consumer tasks are negatively impacting their reputation as it relates to quality. One of the ethics dilemmas around direct-to-consumer products is that people don’t understand the terms and conditions, and some of that is companies selling consumer data,

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