Hot AI Mandate: Boston-based VC Focuses on Early Stage Healthcare IT and Service Companies

5 Apr

Based in Boston and founded in 2006, a venture capital firm is currently investing from its fourth fund of $300 million closed in 2019. The firm typically is the lead or co-lead in the first institutional or Series A rounds in early-stage companies in the enterprise information technology (IT) space, including digital health. The firm’s equity investment size ranges from $3-7 million. The firm is most active on the US East Coast and would consider opportunities from across the US. The firm plans to make 5-7 new investments in the following year.

Within digital health, the firm is seeking systems, technologies, and services that support clinical delivery to improve outcomes and efficiency of clinical care. The firm is not interested in consumer-facing products, genomic analytics, or life sciences software – the focus is healthcare IT and services. The firm is looking for innovations that have demonstrated product-market fit in the form of recurring annual revenue of $1M or more. Pre-revenue companies may be considered if there is a strong fit with its investment thesis. When it comes to digital health investments, the firm often syndicates with strategic co-investors who understand the risks in the healthcare system, such as healthcare providers and payers.

The firm is looking for competent and experienced management teams with sector expertise. The firm brings in real-world experience, industry knowledge and networks, and company-building skills to its portfolio companies. The firm takes a board seat post-investment.

If you are interested in more information about this investor and other investors tracked by LSN, please email RESI@lifesciencenation.com.

Hot AI Mandate: California-based Venture Capital Invests in Data-driven Technologies that Leverage AI, Machine Learning and IoT

5 Apr

A venture capital firm was founded in 2012 and is based in San Diego, CA. The firm invests in a wide range of data-driven products that integrate AI, machine learning, and IoT. The firm is backed by a management team with a long, successful track record of building tech companies. The firm invests in the company’s early stages with an initial check size of $250 K with follow-on investments as the company matures, with equity and convertible loan as the preferred capital structures. The firm focuses on US-based companies, but may consider international companies with strongly innovative products that they can bring to the US market.

The firm will look at a range of verticals in the life sciences sector as long as there is a strong data-driven component in the company’s product. Sectors of interest include healthcare IT/digital health. The firm will not consider therapeutics or medical devices unless there is a heavy data component. The firm’s previous investments include an AI-driven image analysis platform for cancer detection, a computational DNA analysis platform for personalized cancer treatments, and a DNA amplification technology based on electric field-induced pH changes. The firm has their own AI Lab of top data scientists, so the company does not have to have the AI experts as long as they have the data, know how to get the data, and what information would be valuable to retrieve via machine learning applications.

The firm will work with companies backed by founders with deep domain expertise. The firm prefers deploying the venture studio model to help co-found companies, deploy their AI Lab experts, and will always take a board seat in their portfolio companies.

If you are interested in more information about this investor and other investors tracked by LSN, please email RESI@lifesciencenation.com.

Top 10 Challenges for Startups Raising Capital and Seeking Licensing Deals

1 Apr

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

Check out a recent list of the top challenges startups face when entering the early-stage fundraising arena. Each challenge is linked to an article tackling these and similar issues.

  1. Migrating from regional mindset to global partnering arena
  2. Understanding that deals take 9-18 months and identifying vehicles that can assist in partnering campaigns early
  3. Defining and understanding their competitive landscape
  4. Compiling a global target list (GTL) that is a fit for product and stage of development
  5. Understanding the cost of launching and executing a global partnering campaign ($60K-$90K)
  6. Developing branding and messaging that highlights unique company value that is clear, concise, and easy to understand
  7. Implementing a CRM to activate and organize global campaign, which includes ongoing curation of partner list, outreach initiatives, and tracks status and to-do list for all meetings
  8. Hitting the road with phone and email canvassing, as well as traveling to conferences to engage partners
  9. Learning the art of follow-up (99% of all startups fail here)
  10. Learning how to efficiently partner at a partnering conference

Life Science Nation is committed to facilitating well-fitting meetings between founders with innovative assets and the capital and channel partners who seek them. Our Redefining Early Stage Investments (RESI) conference returns in a virtual format June 7-9. Register today and save $300 on super early bird rates by April 15!

Digital RESI March IPC Winners

31 Mar

By Claire Jeong, Chief Conference Officer, Vice President of Investor Research, Asia BD, LSN

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Another Digital Redefining Early Stage Investments (RESI) conference is in the books! At Digital RESI March, nearly 40 life science and healthcare startups participated in the Innovator’s Pitch Challenge (IPC), a unique pitching opportunity for early-stage companies in therapeutics, medical device, diagnostics, digital health, and R&D/services sectors.

The IPC has a voting component on which all registered attendees – from fellow startup executives to active early-stage investors – can vote for their favorite companies based on the materials displayed on their dedicated landing pages (pitch video, slide deck, executive summary, etc.) as well as their performance in live Q&A sessions, in which founders pitch directly to and participate in a subsequent Q&A with investor judges.

Life Science Nation is pleased to share the winners of last week’s IPC who received the most votes during the 3-day conference. Congratulations to the winners! Check them out below and see the full list of finalists. The IPC returns June 7-9 and applications are open! Apply today and save $300 by April 15!

Embrace Prevention Care (1st Place)

Embrace is a leader in geriatric preventive care, providing an integrated suite of telehealth, pharmacy and behavioral change services to improve health and reduce costs. We help older adults with chronic conditions take meaningful actions to reduce hospitalizations and extend safe aging in place. Our local nurse practitioners partner with physicians to help their patients implement care plans and follow medication regimens, creating new practice revenue and reducing the complex patient burden.

Bold Therapeutics (2nd Place)

Bold Therapeutics Inc. is a clinical-stage oncology company founded in 2018 by a team of biopharma industry veterans to develop and commercialize BOLD-100, a first-in-class anti-resistance therapeutic. BOLD-100 significantly enhances the activity of a wide range of other anti-cancer therapies by disabling a critical and previously untargeted cancer resistance, survival and proliferation pathway. Based on compelling preclinical and early clinical results, Bold Therapeutics is focusing its development efforts on some of the most challenging cancer indications where existing therapies are largely ineffective, resulting in a significant unmet medical need.

CoolSpine (3rd Place)

CoolSpine LLC was spun out of Yale University and is developing two neuroprotective medical devices that induce localized hypothermia to address injuries from spinal or cerebral ischemia. The patented devices cool the Cerebrospinal fluid in either the brain or the spinal cord to levels known to be neuroprotective (32°-35º C). By using the CSF to induce hypothermia, the devices uniquely cool the targeted areas while maintaining systemic normothermia, a significant benefit that avoids the complications of systemic hypothermia. The devices are incorporated into ventricular or intrathecal catheters, standard products for brain or spinal protection and therefore require no additional invasive intervention. CoolSpine’s primary targets are spinal cord and cerebral ischemia.

National Institute on Aging Launches Startup Challenge

31 Mar

By Candice He, Vice President of Business Development, Global Investment Strategist, LSN

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Life Science Nation is pleased to share an exciting opportunity for the longevity and age-tech startup community: The National Institute on Aging is hosting a startup challenge, The Healthy Aging Start-Up Challenge and Bootcamp to Foster Diversity and Accelerate Innovation, and applications are open! Apply by May 23 to win a cash prize, one-on-one mentoring, and access to an entrepreneur bootcamp!

NIAstartupchallengeAd

Apply-here

About the Challenge

The Healthy Aging Start-Up Challenge and Bootcamp to Foster Diversity and Accelerate Innovation invites applications from diverse researchers and entrepreneurs with a demonstrated need for entrepreneurial resources. Applicants should have innovative ideas for science-driven technologies and products that aim to promote healthy aging or address aging-related diseases or conditions, including Alzheimer’s disease and related dementias. There is special interest in participants and ideas that have the potential to increase the diversity of NIA-funded small business research and development. NIA strongly encourages applications from researchers and entrepreneurs from groups underrepresented in the U.S. biomedical sciences and in life science entrepreneurship.

Up to 20 finalists will be selected to participate in a 4-month entrepreneurial bootcamp designed to provide resources to help overcome barriers to launching a start-up and obtaining funding. The bootcamp will include entrepreneur workshops, mentorship, networking opportunities, and grant application skill building. Participation will be mostly virtual and will require finalists to commit approx. 4-6 hours per week plus one 3-to 4-day in-person networking event scheduled for September 19-22, 2022 in Boston (travel expenses paid by NIA). At the conclusion of the bootcamp, finalists will pitch to be selected as one of up to five winners to each receive a $60,000 cash prize. 

Applicants are encouraged to attend the Pre-Application Webinar scheduled for April 20, 2022, at 2 PM ET to learn more about the Challenge.

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Calling for Mentors

Mentorship is a critical component of this program. As participants will be learning to refine their idea, develop a pitch deck, identify markets and investors, and launch a new life science venture, the NIA is seeking volunteer mentors with an interest in diversity who are passionate about sharing their expertise in areas like entrepreneurship, investing, product development, digital health, and/or science and technology related to aging and Alzheimer’s disease. Mentoring relationships with individuals of shared backgrounds and experiences are especially beneficial to mentee success, so the NIA is especially excited to recruit mentors with unique or underrepresented backgrounds. Please share the link below for mentors with anyone who you feel may be a good fit.

Mentor applications are due May 2, so apply today!

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Free Fundraising Bootcamps for Life Science Startups

31 Mar

By Antoinette Lowre, Manager of Business Development, LSN

Digital RESI returns in a virtual partnering format June 7-9. To prepare Life Science Nation’s network of startup founders and scientist-entrepreneurs to partner with the 400+ investors and strategic partners expected at this upcoming RESI, we are pleased to offer complimentary fundraising bootcamps. These 1-hour webinars dive into different topics pertaining to early-stage fundraising and digital partnering through the RESI platform. They also include sessions on the Innovator’s Pitch Challenge – one of the most popular and competitive events at RESI.

Check out details below and register to join a free fundraising bootcamp to support your current or next raise!

Tuesday, April 5, 2PM EDT
Branding & Messaging: Seed to Series B 
  • Antoinette Lowre, Manager, Business Development, Life Science Nation
  • Megan Rychwa, Analyst, Investor Research, Life Science Nation
To win capital, you must stand out from the crowd. The first way to do that is to have top-notch marketing collateral. This bootcamp discusses how to provide potential investors with high-quality, professional materials—materials that engage them, communicate your message clearly and concisely, and present the information they want to see in a way that helps them to decide quickly and easily if you are a potential fit for their needs.
Tuesday, April 12, 2PM EDT
Preparing to Pitch at RESI 
  • Alexander Vassallo, Manager, Business Development, Life Science Nation
The Innovator’s Pitch Challenge (IPC) is an opportunity for early-stage companies to gain additional exposure to conference attendees, pitch directly to a panel of relevant investors, and participate in a live Q&A session. This bootcamp will walk through the process of preparing your pitch materials and what to expect in a live pitch session, including frequently asked questions from investor judges.
Wednesday, April 20, 11AM EDT
Fundraising 101: Avoiding Pitfalls and Improving the Odds
  • Karen Deyo, Director, Investor Research, Israel Business Development, Life Science Nation
  • Candice He, Vice President, Business Development, Global Investment Strategist, Life Science Nation
This bootcamp is designed to help scientist-entrepreneurs navigate the world of fundraising. It starts out by debunking some commonly held misconceptions about early-stage startups and fundraising, followed by tips on how to improve your chances and increasing investor visibility.
Wednesday, April 27, 1PM EDT
Preparing to Pitch at RESI
  • Candice He, Vice President, Business Development, Global Investment Strategist, Life Science Nation
The Innovator’s Pitch Challenge (IPC) is an opportunity for early-stage companies to gain additional exposure to conference attendees, pitch directly to a panel of relevant investors, and participate in a live Q&A session. This bootcamp will walk through the process of preparing your pitch materials and what to expect in a live pitch session, including frequently asked questions from investor judges.
Wednesday, May 4, 2PM EDT
Strategies for Successful Partnering 
  • Alexander Vassallo, Manager, Business Development, Life Science Nation
  • Joey Wong, Analyst, Investor Research, Hong Kong BD Life Science Nation
This bootcamp is a fan favorite with tried-and-true tips to make your partnering experience exceptional, letting your technology, product, and team take center-stage. Whether booking 1-on-1 meetings or pitching to a panel, these strategies will help you prioritize the details that make a difference in telling your story to potential investors and strategic partners.

Hot Investor Mandate: Private Investment Firm Seeks to Invest in Clinical Stage Therapeutics Including Vaccines, Platform Technologies, Repurposed Drugs, Etc.

31 Mar

A private investment firm primarily invests in life sciences and disruptive technologies and is actively seeking new investment opportunities. The firm is most interested in USA-based companies, but is open to investing in other geographies given that the companies target the USA or EU markets.

The firm is most interested in therapeutics, and most of their portfolio companies have fallen in that sector thus far. The firm has reviewed medical device opportunities before, but has yet to make an investment in that space nor is that within the firm’s current focus. The firm steers away from digital health. Currently, the firm is most interested in vaccines, platform technologies, and reformulations and repurposed drugs (505(b)(2) or even ANDA regulatory pathway). For disease areas/indications, the firm is interested in infectious diseases, oncology/immuno-oncology, neurology, ophthalmology, and orphan diseases. The firm prefers to invest in clinical assets, and pre-IND assets are generally considered too early stage by the firm. For companies developing vaccines or in infectious diseases, the firm may consider earlier stage opportunities as the firm is most interested in these fields. The firm is also open to commercial stage opportunities.

The firm seeks to work with experienced management teams with a demonstrated track record of success. The firm generally co-invests alongside a syndicate and will not always seek a board seat. The firm does have strong strategic value-add, and seeks to work with their portfolio companies to help develop new R&D partnerships, commercial and licensing alliances, new drug development program collaborations, manufacturing, supply and distribution joint ventures, and more.

If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com.

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