Atheneos Ventures is a healthcare-focused, evergreen incubator fund based in the San Francisco Bay Area, going forward focusing on orphan drugs and rare diseases via a holding company-fund business model pioneered by the firm in 2009 for common diseases. This new entity is called Atheneos Global, a pathfinder company, focused on orphan diseases is being launched in Q1, 2018. However, the firm collaborates with an affiliate, Spire BioVentures, on projects that are not in the orphan diseases space.

The firm has a very high threshold for working with companies, and makes most of its investments in companies with which there is some type of relationship, but it is open to new opportunities as well on a case-by-case basis. The firm is mainly focused on therapeutics and will consider platform technologies, however only platforms capable of generating drug candidates. The firm’s investment size varies widely depending on the needs of the company, and expected to commit between $5M-$10M for the life of the company (from start to exit). The capital structure depends on the financing round, with convertible notes being preferred for seed rounds and equity for everything else (no debt financing) with the preferred entry point being seed or Series A. Atheneos only co-invests, and does not lead rounds unless the key principals are part of the founding entrepreneurs. The firm has some limitations on geographic exposure and will consider companies in the United States, Canada, Singapore, Spain, the Netherlands, Switzerland or the United Kingdom.

Atheneos will invest in therapeutics (no specific indication) that treats orphan diseases with strong scientific rationale. For Atheneos, not all orphan indications are rare or ultra-rare since the future is fragmentation of common indications characterized thru genomics or proteomics profile. The firm is interested in earlier stage assets and will consider anything from pre-clinical up to Phase IIa. In the past, the firm has invested in therapeutics (a single asset or a company with multiple products), which treat unmet needs in glaucoma, thrombosis (in particular patients with prosthetic heart valves and renal dysfunction), atrial fibrillation, inflammatory disorders (such as ulcerative colitis), gastrointestinal disorders (such as constipation, reflux disease) as well as a small molecule to treat neurovascular disorders such as Alzheimer’s disease, wet-age related macular degeneration. Atheneos will consider early-stage therapeutics to treat orphan disease including small molecules, and novel biologics (including “biobetters”) that are likely to obtain or already have issued composition of matter patents and platform technologies (that could generate novel drug candidates) with least interest in repurposed drugs, biosimilars and cell/gene therapy candidates. The firm at present is not interested in diagnostics, medical devices or digital health but may work thru its affiliate, Spire BioVentures, for projects in this area.

Atheneos does not have any specific management team requirements, and will work with all entrepreneurs. A board seat is not always required, but is not uncommon.

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

By Rory McCann, Marketing Manager & Conference Producer, LSN

Digital RESI JPM is barely out of the rearview mirror at Life Science Nation (LSN), but that doesn’t mean Digital RESI March isn’t coming up fast. RESI is not meant to be a one-shot success story. It’s designed to follow the principles of early-stage fundraising:

1	It’s a numbers game.
2	It takes time.
3	It requires research, a compelling story, and strategic outreach and follow-up.

RESI returns five times each year, not only as a tool in the shed of investors seeking portfolio assets, but also as a platform for startups to connect, meet, and pitch to investors and strategic partners who are a fit for their product and stage of development. The rapid turnaround of events speaks to the importance of consistency and the speed necessary to progress with partnerships. This also means that the window for early-bird season is coming to a close.

Startups can save $200 when they register for Digital RESI March by February 18. RESI is priced competitively with the understanding that resources are tight while fundraising. Early bird rates invite founders to get involved early to start working with some of LSN’s powerful complimentary resources to enhance their RESI experience and support their outreach. See what Digital RESI JPM attendees have to say and contact us to learn more about our exclusive rates and upcoming free bootcamps to get 2022 fundraising off on the right foot!

“This was our first conference, and we were very pleased with the quality of the companies that we met and with the communications from the conference organizers.”

“I very much appreciate the ability to attend RESI conferences as an investor.”

“I like this platform and helpful LSN folks very much and feel LSN is doing an excellent job creating a friendly community for early-stage startups.”