Next Phase Newsletter

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

Life Science Nation (LSN) has created a funding and partnering platform for early-stage life science companies in biotech, medtech, diagnostics and digital health that is unique to the industry. The platform consists of two databases, one tracks emerging life science companies and the other curates investors from around the world who are funding these entities. Augmenting these two platforms is the Redefining Early Stage Investments (RESI) Conference series and an I-Bank, Boston Innovation Capital (BIC) that help facilitate the matching up of buyers and sellers.

LSN’s unique position and range of capabilities has attracted interest from both domestic and foreign life science entities looking to leverage LSN’s global access to technology, specifically the plethora of technology assets in North America. This has resulted in various projects that utilize LSN’s infrastructure and reach into its partnering network. As a result LSN decided to offer a Sourcing and Ranking Service (SRS) that allows pharma and other buyer/licensees a way to quickly develop a complete picture of and gain access to the assets targeting a particular indication or specific technology type.

LSN’s Sourcing & Ranking Service (SRS) provides a three tier classification of assets, consisting of initial identification and aggregation of “Global Heat Maps” and “Global Target Lists” of the technologies/companies for a specific project.  We then deliver a deep-dive analysis of the select top assets that best fit the client’s objectives.  LSN has developed an expert system that powers this new capability to source, vet and stack-rank assets around virtually any life science sector. This service allows pharma groups and others looking for acquisitions or licensing deals to quickly scan the global landscape for a desired indication or technology type and dial in top contenders for investment and partnering objectives.

*   Level 1 Profile – LSN starts a client’s project by initially creating a “Global Heat Map” identifying where the assets are and then curating a ‘Global Target List” of all the companies and technologies and provide first level profile information on these companies. uncovered that are a potential fit. At the heart of LSN is a very strong and diverse research team that can efficiently gather and parse information using the LSN Company Database of 45,000 emerging biotech, medtech, diagnostic and healthcare IT companies. Which include data on financing rounds, management team and breakdown of pipeline (indication, stage of development, licensing status), the target company’s website and other informational resources are used to create a comprehensive list of relevant companies and their technologies.

*   Level 2 Profile – The Level 2 profile consists of our research team members calling all the core “global target list” entities and conducting one-on-one interviews. The researcher uses a survey that LSN has created and is the foundation of the LSN expert system. The survey conducted via a one on one phone interview which encompasses a dozen key topics that involve over 200 data elements that we accrue and enter into the expert system. The system then generates a score for each entity based on the weighted categories and the data elements within each category. The combination of the level 1 and 2 profiles provide an up-to-date, multi-layered, and actionable profile which now can be stack ranked. This stack ranking is based on the individual score generated through the expert system for each company. LSN delivers this information via reports and also allows the client access via a secure password protected content/data vault. LSN’s sourcing and ranking service allows clients to be highly selective and much more efficient from a time perspective delivering results within 90 days.

*   Level 3 Profile – LSN works with the client to select the top assets from the stack rank list that best fit the client’s objectives. Based on client’s input, LSN will conduct a more detailed assessment of these companies—building off of the initial phone conversations. LSN research will obtain all the available company collateral such as executive summaries, PowerPoint presentations, technical publications, as well as their most up to date white papers and business plan. At this point LSN collaborates with the client to design more elaborate interviews with additional one-on-one phone conversations and in-depth interviews as we build and enhance the Level 3 Profiles. The new profile allows LSN to create a new stack ranking order based on the additional data and generate a summary report for the client.

*   Data Vault – The client has access to a proprietary ‘Data Vault’ which will be hosted by LSN on a secure website to house info and portfolio of the assets discovered. The client has access to on-line ‘data vault’ with all asset information via a user name and password. The content, data and reports are never more the 90 days old.  Guaranteeing current and accurate information is critical in sourcing assets. The finalized stack-ranking report generated from LSN’s due diligence and top asset recommendations can provide a significant edge and make the client extremely efficient in evaluating technology. The Client will be able to download profiles and reports as needed.

LSN is uniquely positioned at the intersection between investors and early-stage companies. SRS is designed to provide our clients with a rapid, end-to-end research capability that will enable them to efficiently access the assets that are the right match for their new business initiatives and partnerships.

By Colin Widen, CEO, Boston Innovation Capital

Boston Innovation Capital (BIC), a wholly owned subsidiary of LSN Holdings, became a FINRA-registered broker dealer in 2016. BIC works alongside LSN’s other two divisions (LSN’s Investor Platform and Company Platform, and the RESI Conference Group) to support early stage companies in forging connections with investors, major pharma firms and other strategic players in the life science world.

With a year of operations under our belt, BIC has expanded its services to support both startups and investors in building early stage connections based on a good fit between buyers and sellers of new life science innovations.

BIC was founded to create and execute global fundraising campaigns for startups in the biotech, medical devices, diagnostics and healthcare IT sectors. This was a logical start for the firm due to BIC’s relationship with Life Science Nation. The conversation that LSN maintains with the industry via the RESI events and the LSN Investor Platform creates a close relationship with investors and deep awareness of the fundraising landscape.

These relationships have also given BIC the capacity to offer buy side services. BIC can often make confidential inquiries to investors regarding their portfolio companies. This gives BIC access to tens of thousands of private companies that are extremely difficult to source. Not only does BIC get access via these investors but they receive a potential introduction by in many cases an investor who has a board seat. This puts BIC in a unique position to represent entities looking to license or acquire assets.

LSN’s unique position in the early stage space, and the range of capabilities we have developed, provide a strong foundation for a sourcing and ranking service for clients interested in investment/acquisition opportunities. LSN is uniquely positioned to rapidly identify and assess technology assets for clients focusing on any disease area of interest. We operate at the intersection of many North American and European channels of early stage life science technology assets.

LSN has deep relationships with Big Pharma players, large global CRO’s and other service providers who are all long-term clients. LSN owns and curates one of the top early stage company databases in the world and sells this database to these partners who use it to source early stage life science technology. This global positioning, along with the appearance of exciting new companies/technologies at our RESI meetings and deep relationships with our partners (pharma, NIH, investors) enables LSN to provide our clients with a comprehensive view of their interest areas.

The Sourcing and Ranking Service (SRS) provides clients with a comprehensive opportunity to make the sourcing process super efficient. Starting with a detailed assessment of the clients’ investment interests, LSN will conduct a global search for assets in that interest area; will vet and rank the most relevant assets; will provide the client with a deep dive analysis of the companies holding the top 10 to 20 assets. SRS is designed to provide clients with a rapid, end-to-end business development research capability that will enable them to more quickly access the assets they are most interested in.

If you’re interested in how to source, vet and rank new assets, stay tuned, because we’ll cover this in depth in next week’s newsletter. We look forward to building on our resources and relationships in the years to come, and offering both startups and investors more support in finding the right match.

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

Having a clear and consistent identity and message—or brand—that differentiates you is a critical requirement in establishing yourself as an investible identity to your prospective capital providers.

Many life science executives falsely believe that only consumer goods companies must invest in branding. Many also believe that their technology is so compelling that it will speak for itself. The reality is that branding is equally important in the life sciences, especially when it comes to raising capital, and that selling even the best of products takes some work.

Although you’re communicating with a small and highly educated audience, branding influences the choices they make. Your brand is what you present to the world. In creating it, you must ask yourself how you want to present your company and product and how you want to be seen and perceived. A logo may seem like a trivial component, but it’s actually an opportunity for you to create an image in an investor’s mind.

The goal of logo development is to create one that embodies the identity of your firm. Your logo is a symbolic representation of what your firm is all about, and it (like your marketing collateral) needs to be clear, crisp, and obvious. Too often, entrepreneurs will pick a logo that is inscrutable to an investor (for example, a complex molecular diagram) without thinking about it from a marketing perspective. You must take the time to consider what differentiates your company from the rest of the marketplace, what values your company holds, and what message you are trying to send. If you take the time to think through these questions, you’ll be able to develop a logo that is a strong and simple representation of the image you are striving to achieve in the marketplace.

Right below your logo should be your tagline. A tagline communicates in one crisp statement who you are and what you do. A common mistake people make is writing taglines that are general and nondescriptive rather than crisp and compelling. Examples of poor ones are “Moving Science Forward,” “Next Generation Solutions,” and “Creating New Therapies.” These don’t say anything specific about what the company does. A great tagline explains precisely what you do in a few words and starts to provide the context for who the company is.

Some examples of successful taglines include “Inventors of a Novel, Safe Anti-Cancer Agent” and “Anti-Infective Preventing the Replication of the Hep B Virus.” Life Science Nation’s tagline is “Connecting Products, Services & Capital.” The tagline needs to capture the essence of what your company does so that the reader has a general idea of what you are about. In the case of the latter example, the company name “Life Science Nation defines the arena the company plays in. The tagline informs the reader of the company’s role within that space.

Are your logo and tagline up to the task of representing your brand? LSN is launching a contest to find the best startup branding in the life sciences. Send in your logo and tell us the 5-7 word tagline for your startup, and we’ll feature the best submissions in a future edition of this newsletter, which will go out to 40,000 readers around the world.