Next Phase Newsletter

Dr. Alberto Ramos Vernieri

Interview with Dr. Alberto Ramos Vernieri, Chief Scientific Officer at Untech By Caitlin Dolegowski Marketing Manager, LSN

Caitlin Dolegowski

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

Alberto Ramos Vernieri (CSO Untech): Untech is a drug development company that is focused on chronic wounds like diabetic foot ulcers, venous ulcers and bedsores. Currently, we are developing the first all-in-one medication under prescription for chronic wound healing acceleration. It is a combination product composed of 5 marketed small molecules and 1 marketed enzyme in the pharmaceutical form of a hydrogel.
This technology has its patent granted in the USA, Israel and South Africa and through a PCT process, it was applied in 43 more countries including China, India, Japan, Singapore, South Korea, Australia, Canada, Mexico, Brazil, Argentina, Chile, Colombia, Peru and the European Patent Office.
We finalized our preclinical trials under OECD-GLP, demonstrating that Untech provides all therapeutic requirements that International Wound Care Associations recommend. We are the first product solution that addresses the mentioned 10 therapeutic requirements at the same time and in a single product. It will accelerate the healing process from years to months, drastically reducing the probability of amputations and the rate of hospitalizations, as well as allowing patients to remain ambulatory and apply the treatment themselves. Currently we are starting our first-in-human clinical trial in Argentina.

From different regulatory reports, we qualify for a Breakthrough designation and are an ideal candidate for the 505(b)2 path in FDA. Also, as we are using approved molecules, we already know pharmacokinetics and pharmacodynamics of each one.

CD: Tell us about your team and your locations, Delaware, and Argentina.
ARV: Untech is a company that is functioning in a holding structure. The central house (Untech Inc) is in Delaware-USA and a subsidiary in Buenos Aires-Argentina. As our working plan is based on outsourcing every key activity we don’t discard incorporate our company in Europe and Asia.
Our management team is composed of three scientists and an entrepreneur. Our CEO and co-founder Ruben Salim Brovia is a technological serial entrepreneur, his background is in Business management and he has already co-founded three startups in the US, Spain and Portugal. I’m the CSO, co-founder, and the main inventor of this technology. As a researcher I spent the past 17 years studying chronic wounds, I published multiple articles and books about it and my work was recognised with several awards in international scientific congresses. Doctors Nicolas Cerusico and Romina Chavez Jara did their PhD and postdoctoral studies in the pathophysiology of these injuries and in the action mechanism of this medication.

CD: This was Untech’s first RESI conference. How did you learn of the RESI conference series?

ARV: In 2022 we started our internationalization process by presenting our projects in different events all over the world. We were in Seoul, Berlin, Lisbon, Bali, Dubai, San Diego, San Francisco, New York and Boston.
Last year in Boston, we were lucky enough to meet Mr. Gregory Mannix from Life Science Nation who introduced us to the event and showed us the benefits of using the RESI conference for our fundraising process.

CD: What stage of fundraising is Untech in and what were you looking to accomplish at RESI?

ARV: During the pitch challenge in the RESI event, we have formally opened our Series A. That is to advance with our clinical development plan in FDA for our first clinical indication. Our intention was to know more about the professional VC mindset and what they are looking for in therapeutic projects. By talking with them, we improved our complete data room and pitch deck and now we consider we are “investor ready”.

CD: What worked well for you at a RESI conference?

ARV: I think that the most important thing is that we have known an incredible ecosystem of entrepreneurs that share with us our same problems and concerns. We validate that our project could result in interest even for VCs that are used to seeing hundreds of projects every month. We get several contacts not only with investors but also with different services companies that could provide us with all that we need regarding regulatory, clinical development, business development and even seeking non-dilutive funds.

CD: Congratulations on your third-place finish in the RESI Boston June Innovator’s Pitch Challenge (IPC)! What does this success mean to Untech?

ARV: When you start a life science project in a place that is far away from where everything occurs, it’s really important to continuously validate your plan and your knowledge. This prize is exactly that because the judges of the contest are people with a lot of experience and well recognized in the field. Each question from this kind of person is always useful to learn more about those things you can’t learn in other ways. So, we are really happy for their validation, and this encourages us to keep going on this path.

CD: What advice would you like to provide to fellow entrepreneurs?

ARV: Life science projects are usually long-term and very complex ones. It could take many years if you don’t validate your assumptions. That validation usually comes from experienced people and this kind of contest is an incredible opportunity to have access to that experience. The most important thing is not to win but to validate your assumptions. For my colleagues entrepreneurs in Latin America: We normally start our entrepreneur path with very low self-confidence. Don’t do that. You can do anything, you just need to learn how.

By Karen Deyo, Director of Product, Israel BD, LSN

Life Science Nation (LSN) spends a lot of time with first-time and early-stage CEOs.  Typically, they have their tech transfer license from academia and are now seeking non-dilutable money from the federal government, state regional entities, foundations, and patient groups.  

The challenge is crossing the chasm between academic research and entering the start-up business domain. The good news is there is no shortage of advice and programs to help steer you in the right direction.  The big issue that we see at LSN is that the entrepreneurs are coming to us with a problem-solution marketing slide set, and most are very generic and do not do much to really separate a company from all the other companies that are all competing for the same attending from the global partners who seek them.  

LSN spends a lot of time with the startup getting the story of the founders and the technology straight, and then concentrates on the tactical: how to plan and execute a global partnering campaign. LSN’s Founder & CEO, Dennis Ford, will host free webinars this summer, with a series of three back-to-back presentations that target the challenges and myths of the startup CEO.  

The series begins with the First-Time CEOs webinar on July 25, 12PM ET (Eastern Time). This session will cover some of the most common pitfalls that catch first-time and serial entrepreneurs off guard. From false premise and being tentative to surrounding yourself with executives that do not have augmentative and complementary skillsets, there are many things that can slow the growth of your early-stage life science entity. By learning how to avoid these issues and not run yourself over, your chances of making it to the market will increase greatly.  

Next up is the Launching Your Startup webinar on August 1, 12PM ET. Launching a startup begins with commitment. Commitment to your startup initiative, your executive team, and your partners. Learn how to sustain this commitment by creating a proof of concept or prototype and create market traction initially, considerations to your corporate structure, simplifying finances in the beginning and what tools to utilize. This presentation walks you through an honest look at best practices to launch a life science startup.     

The series wraps with the It All Starts with a Story webinar on August 8, 12PM ET. The most successful entrepreneurs are always the best storytellers. Finding a way to naturally formulate your company’s unique story and portraying this through multiple modalities whether it be a 1-minute elevator pitch, or a 12-slide pitch deck is one of the most effective ways to get potential investors and partners on board with your value proposition. This boot camp will cover the importance of entrepreneurial agency, finding your voice, and developing a compelling narrative for the different players that will emerge along a deal chain, and language tools to refine your hook. 

Scan the links on the banner to register for these free webinars hosted on Zoom.  

By Dennis Ford, Founder and CEO of Life Science Nation, Creator of the RESI Conference Series

Embarking on the journey of a life science entrepreneur often means leaving your comfort zone and heading into the unknown. A scientist or engineer often decides it is time to cross the chasm into the business world, leaving security and predictability behind, heading into uncertainty, and figuring out how to build and launch a product independently. This is certainly not for the faint of heart; there isn’t a map or recipe to follow. It is you, your team, your technology, and your vision. From navigating the complex regulatory landscape to securing funding and bringing innovative products to market, the path to success is paved with valuable lessons. This article will explore the key takeaways I have seen firsthand interacting with successful life science entrepreneurs. 

Lesson 1: Passion and Purpose Drive Success 

Passion and purpose are vital drivers of success for life science entrepreneurs. Successful entrepreneurs are deeply passionate about their mission and have a strong sense of purpose. Simply put, you need to be all in. You cannot expect to make it if you are not 100% committed and are passionate about the prospects of launching your startup. Passion and belief might be all you have during the early challenging times. A strong desire to leapfrog or disrupt a current standard of care keeps you focused and committed to making a meaningful impact. It is a mission. 

Lesson 2: Embrace a Culture of Innovation 

Innovation lies at the core of the life science industry. Successful entrepreneurs understand the importance of fostering a culture of innovation within their teams and organizations. We are in the golden age of life science, with advancements such as rapid vaccine development, CRISPR editing tools for gene mutations, immunotherapy for cancer treatment, AI-based drug development, new drug treatments for weight loss, and extending breast cancer survival. This is just the tip of the iceberg, and we cannot imagine the limits that lie before us in healthcare. Innovation gives us the power to challenge the conventional status quo, dream big, and change patient outcomes that will impact the very fabric of humanity.  

Lesson 3: Build a Strong Network 

Building a strong network is crucial for success in the life science industry. Successful entrepreneurs recognize the value of connections and collaborations. They seek mentors, advisors, and industry experts who can provide guidance, support, and valuable insights. My company, Life Science Nation (LSN), has created a global partnering network by curating a sell-side, startup company database, and a buy-side, investor and licensing partner database so that the startups and the people that seek them can come to LSN and get a list of global players that are a fit for them based on their stage of development and product. LSN then offers an entrepreneurial curriculum for the scientist-entrepreneurs to develop their unique company story, understand how to canvass potential partners and organize and manage the transition from regional to global in their partnering campaign efforts. LSN also offers five RESI partnering events annually so that our startup clients can facilitate the building of relationships that will open the doors to opportunities to get them funded. 

Lesson 4: Embrace Failure as a Learning Opportunity 

Failure is an inevitable part of the entrepreneurial journey. Successful life science entrepreneurs understand that failures and setbacks are valuable learning opportunities. They embrace failure, adapt quickly, and use the lessons learned to improve and grow. I cannot stress the importance of learning as you go in a startup is what really will measure your resilience when inevitable challenges surface. Failures force you to pivot, not achieving milestones forces you to pivot, and not getting the critical data you need forces you to pivot. It is essential to view each failure and each pivot as another opportunity, another step toward success. Make mistakes, learn, iterate, push on, rinse, and repeat, it is how the startup process works. 

Lesson 5: Secure Funding Strategically 

Securing funding is a critical aspect of building a successful life science startup. Successful entrepreneurs understand the importance of a strategic approach to funding. They explore diverse funding sources, such as grants, capital investors, and strategic partnerships, aligning their funding strategy with their long-term goals. Launching a global fundraising campaign is a full-time initiative. It cannot be accomplished by going to one or two partnering events. It takes 9-18 months, if you are lucky. You need to prepare by having cogent branding and messaging about who you are and what your company does. You need a list of potential partners and a CRM to put that list into to manage your day-to-day interactions. You need to identify 600-800 potential partners (global target list) because partnering is a numbers game, and you need to leave your region and go global. Educating yourself about how to launch, organize and manage a global campaign is essential. Global partnering is its own unique universe and you need to learn the rudimentary aspects of sales, marketing, and business development.  

Build a compelling narrative that easily nets out your value. Yes, you need a compelling business case, value proposition, and ROI but you also need to show that you and your team will be capable of delivering the goods, are open to suggestions, and will be good to work with. Your campaign will ebb and flow with lots of highs and lots of lows and you must be patient and persistent.  

Lesson 6: Focus on Regulatory Compliance 

Navigating the regulatory landscape is a significant challenge for life science entrepreneurs. Successful entrepreneurs prioritize regulatory compliance from the early stages of their venture. They work closely with regulatory experts, invest in robust quality systems, and ensure adherence to guidelines and standards. An experienced entrepreneur knows that all of the potential partners that will surface are experts in the importance of regulatory compliance. It is crucial to maintain transparency, adhere to ethical practices, and prioritize patient safety. Entrepreneurs need to show from the first interactions that they understand that compliance is crucial for long-term success. 

Lesson 7: Build a Skilled and Diverse Team 

I find myself mentioning this concept of not hiring look-a-likes or clones of the founder but rather focusing on building a skilled and diverse team. Successful entrepreneurs understand the value of diverse perspectives, expertise, and backgrounds. They surround themselves with talented individuals who share their vision and bring complementary skills. The founder will dictate culture and most successful strategies revolve around being open and collaborative. The team is going to deliver the innovation and overcome the challenges and it isn’t a one-person show,  

In conclusion, the journey of a life science entrepreneur is filled with valuable lessons. Passion, purpose, innovation, networking, resilience, strategic funding, regulatory compliance, and team building are key focus areas for successful entrepreneurs. By embracing these lessons and incorporating them into their entrepreneurial journey, aspiring life science entrepreneurs can navigate the challenges and maximize their chances of success. Remember, every setback is an opportunity to learn, grow, and ultimately achieve your vision of making a meaningful impact in the field of healthcare. 

A corporate venture firm of a publicly listed pharmaceutical group has successfully invested and established several IPO companies in Asia. The firm now focuses on strategic investments which can synergize with its portfolio companies or future business. The firm is open to consider investment opportunities globally, and is willing to help overseas portfolio companies enter into Asia through licensing or joint venture activities.  Typical allocation size can range from US$3-20 million. 
 
The firm is investing strategically in selected sectors. Within therapeutics, the firm considers in companies with technology platforms in cell therapy, RNA therapies, bispecific and ADC drugs.  Investment stage can range from preclinical to early clinical stage.  The firm is also interested in investing in early-stage CDMO companies in the areas above. 
 
The firm is looking for experienced management teams with proven track records. The firm typically requests a board seat in its portfolio company. 
 
If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com. 

An investment firm with offices in USA and Asia is currently making investments from a $1B+ fund in promising private healthcare companies. The firm also has another dedicated fund to invest in promising public healthcare companies, and another fund to invest primarily in early-stage innovations. The firm invests exclusively in the healthcare sector and invests primarily in the USA and Greater China but will also invest in other regions such as Europe and ASEAN countries. Within China, the firm makes growth investments in companies but also find some companies with interesting and innovative early-stage products in recent years there; in the USA and other regions, the firm makes both venture and growth-equity stage investments in both pre-revenue and revenue-stage companies.  
 
The firm’s allocations are highly varied. From the main fund, investments typically range from $20-50m, though larger investments are of interest as well; the early-stage focused fund makes investments of typically $5-20 million. The firm is open to syndication. The firm is also particularly interested in working with companies that are open to or actively interested in seeking partnerships or opportunities in China. 
 
The firm invests in therapeutics, medical devices, diagnostics, healthcare services, and clinically-oriented healthcare IT, and will consider investing in any indication area or technology subsector; however, orphan indications, dermatology/aesthetics, oncology, gene therapy, cell therapy, are of particular interest in the biopharma space; general surgery, neurovascular, cardiovascular, minimally invasive technologies, women’s health, respiratory care, novel diagnostics and orthopedics are of particular interest in the device space. Healthcare AI is an area that the firm is interested and exploring. The early-stage focused fund focuses on early-stage, pre-clinical opportunities in biotech; from the main fund, the firm in most cases makes investments in products that have obtained market approval or are very close to commercialization, but earlier investments may be considered for highly innovative products or products that can demonstrate strong efficacy signals at an earlier stage (such as anti-infectives). For devices and diagnostics, the firm only invests in commercial-stage companies. Generally, the firm does not invest in imaging. 
 
The firm is flexible regarding management teams and works with both serial entrepreneurs and entrepreneurs who lack industry experience. In addition to investing in private companies, the firm is able to invest in public companies by means of PIPEs or public market placements. The firm is interested in investing in companies with products that can demonstrate cost-effectiveness. 
 
If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com. 

A Life Sciences investment firm in the USA is raising an impact-focused fund with an expected first close of $50M USD in late 2023, to target life sciences companies addressing critical health disparities in the US and globally. 

The firm leverages venture creation and private equity strategies to create nimble and focused pre-seed to seed-stage companies with aligned interests, providing resources and expertise that allow these companies to develop quickly. This also includes externalizing undervalued assets that meet its thesis in public and late-stage platform companies for rapid development.  

The investment size is within the $5M-10M range across an investment cycle, and the firm anticipates deploying 3-5 companies within the next year. 
 
The firm will consider therapeutics, diagnostics, and medical devices that advance health equity. The firm does not consider digital health. Within therapeutics, the firm is modality-agnostic and looks at technologies from Pre-clinical to Phase 2. Within diagnostics and medical devices, the firm is opportunistic and looks at technologies in development and clinical phases. The firm is open to all indications that address the needs of underserved minorities. 
 
The firm adopts a case-by-case approach, so has no preliminary requirements of the management team. The firm prefers to lead its early rounds and require board seating. 
 
If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com. 

A venture capital firm with offices in the US and Western Europe is backed by an investment team where everyone has a scientist or medical background. The firm solely invests in therapeutics companies in Seed and Series A rounds. The firm is currently investing from their inaugural global fund – typical check size is up to $8M USD for the first round and may reserve for subsequent rounds. The firm can participate in leading investments or co-investing. 
 
The firm solely invests in specialty therapeutics areas with significant clinical unmet needs. Within therapeutics, the firm is open to all modalities and diseases including orphan diseases. The company needs to be at least 2 years from or in the clinical trial stages. 
 
The firm continues to support the company thus requires taking a board seat, however the firm does not have specific management team requirements. 
 
If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com.