Next Phase Newsletter

The Trump administration made news yesterday by announcing pharmaceutical (and computer chip) tariffs are imminent, by which most assume mid-May. The stated purpose of the pharma tariffs is simple: move both branded and generic/biosimilar API and biologics manufacturing away from India, Ireland, China, and other countries, and relocate it to the US. Ostensibly, this is in the name of boosting manufacturing in the US, as well as increasing security by ensuring life-saving medicines are domestically produced. In fact, pharmaceuticals are the biggest export from the EU to the US, worth $127B, and for nearly 700 APIs approved in the US, the EU is currently the only supplier. 83% of the top generics in the US have no US source, exposing the US reliance on other countries.

The two strategies pharma companies are choosing between in response to the tariffs, as well as previous moves to curtail Chinese pharma imports, are 1) investing in US manufacturing e.g. Lilly, J&J, Merck and Novo Nordisk 2) not doing anything and waiting for an administration change instead, as setting up major regulated manufacturing operations takes 3-5 years, and could cost 25% more than usual due to steel tariffs.

In the biotech R&D community, the danger is the additional production costs big pharmas incur with either of the above scenario eats into their budgets for R&D, which could lead to less appetite for M&A, licensing, and investors. Additionally, some experts don’t believe tariffs will achieve Trump’s goals, and the way to do so is through tax incentives (deductions, credits and reduced rates for manufacturing), streamlined regulations, availability of low interest financing for manufacturing, and prioritized government procurement. On the consumer side, some experts believe the US will not be able to build a competitive level of manufacturing with India, China or Europe and instead of achieving manufacturing autonomy, the US will instead drive-up costs for patients.

Industry analysts have proposed more speculative scenarios as well, namely that Europe, no longer with a dependable production and R&D partner with the US, will implement the tax, regulatory, financing and procurement incentives mentioned above to boost the EU pharma industry to levels much more competitive with the US. The EFPIA, heading into crisis talks with the EU Commission said as much: “[The EU must] deliver rapid, radical policy change… strengthening… Europe’s intellectual property provisions… achieving a competitive EU market that attracts, values and rewards innovation in line with other economies at the forefront of patient care.”

As the saying goes, the one constant in life is change, and that seems to apply especially to tariffs of late. Early stage companies can reduce their risk by focusing on their cash runway, and leveraging investor partnering tools like RESI and the LSN investor database to accelerate their fundraising.

By Max Braht, Director of Business Development, LSN

On June 15th, 2025, Life Science Nation (LSN) will host a special Soft-Landing event in Boston, offering RESI Boston June attendees and other international companies in the city that week, a valuable introduction to one of the world’s most influential life science hubs. Titled “Landing Your Company in the Boston Life Science Ecosystem,” this free, pre-conference event is designed to help companies understand how to successfully establish themselves in the U.S. market by leveraging the resources and connections available in the Boston-Cambridge ecosystem.

Taking place from 1:00 to 5:00 PM at CIC Boston’s Meridian Room on 50 Milk Street, the event will feature insights from experienced leaders and local experts who will share their knowledge about what makes Boston unique, and how early-stage companies can navigate its collaborative, innovation-driven environment.

Following the program, guests are invited to continue the conversation at a networking reception, co-organized with Bene Studio, from 5:00 PM to 7:00 PM at Fin Point Oyster Bar + Grille, located at 89 Broad Street, Boston, MA 02110. This relaxed social gathering will offer participants the chance to connect with investors, industry leaders, and fellow innovators.

For international companies looking to enter the U.S. life science market, this event offers a crucial introduction to the opportunities and resources available in the region. From world-class research institutions and hospitals to a dynamic network of venture capital firms, investors, and top-tier talent from nearby universities, the Boston-Cambridge region continues to be a global leader in biotech and healthcare innovation.

RESI Boston attendees and other international companies in town that week are encouraged to take advantage of this exclusive opportunity to build connections and gain firsthand insights into this vibrant, collaborative ecosystem. Space is limited, and registrations will be accepted on a first-come, first-served basis.

For more information or to register, click here.

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

At RESI Europe 2025, co-organized with Biocat and held at the InterContinental Hotel in Barcelona, 44 emerging companies pitched their technologies in the Innovator’s Pitch Challenge (IPC), presenting to panels of active investors across biotech, medtech, diagnostics, and digital health. This interactive pitch event continues to be a hallmark of RESI, offering founders valuable exposure and actionable feedback from a curated group of judges representing early-stage investors and strategic partners.

With over 200 investors and 200 startups participating, RESI Europe had representation from over 35 countries spanning 5 continents. Over 3000 meetings took place, with a lot of valuable connections formed and relationships built. The IPC continues to differentiate RESI from other early-stage conferences by connecting companies directly with a coordinated investor panel that delivers both in-depth Q&A and candid guidance. Each participating company receives partnering access, exhibit space in the RESI Exhibition Hall, and the opportunity to build new relationships that could lead to partnerships and funding.

The top three scoring companies from RESI Europe were:

First place: MOWOOT

MOWOOT has developed Intermittent Colonic Exoperistalsis, the first purely physical, non-invasive and non-drg solution for bowel dysfunctions such as constipation. Driven by pneumatic force and individualized to each patient via real-time pressure sensors, a series of soft robotic elements externally stimulates the large intestine, resulting in healthy bowel movements. Clinically proven with over 13 scientific publications, recommended in clinical guidelines in sevral EU countries and IP protected by a series of international patents the ‘MOWOOT Bowel management System” is already on the market.

Second place: DARWIN Biomed

Discover MICHELANGELO, our new generation rolling walker with autonomous walking assistance. It has been designed to provide the complete safety you need to move around freely and get through your day entirely independently. Our innovative active fall prevention system enables MICHELANGELO to detect a loss of natural posture in the user’s body, to act automatically and to correct that posture so as to avoid falls thanks to real-time monitoring of the situation on the ground and the physical conditions of the user. In the end, we aim to deliver three major advantages to our users and their loved ones: 1. Enhanced Safety: Offers stability and dynamic support at all times, encouraging safer and more independent mobility. 2. Frictionless Design: No buttons or levers are required for operation, facilitating the user experience. 3. Connectivity: Allows the user’s activity to be monitored and alerts to be sent in case of emergency.

Third place: Opportunity Health

Opportunity Health is a company dedicated to the development of Opportunity, an innovative medical device designed for automatic and self-applicable de-choking. Its objective is to provide an effective solution to choking emergencies, reducing the risk of death in these cases. We are currently in the development and validation phase, with key collaborations with the University of Navarra and the Santiago de Compostela Health Research Institute (IDIS). In addition, we participate in acceleration programs such as CEIN Health and BerriUp, and we continue to advance in regulatory compliance to obtain the CE marking.

Applications are now open for the Innovator’s Pitch Challenge at RESI Boston this June. Companies interested in pitching to a panel of active investors and showcasing their technology on the exhibit floor can apply now to be considered.

By Max Braht, Director of Business Development, LSN

Life Science Nation invites you to RESI Boston June, taking place June 16-18 and 23, 2025. The conference kicks off in person at the Westin Copley Place on Monday, June 16, where attendees can take part in face-to-face networking, live investor panels, workshops, and the Innovator’s Pitch Challenge. This will be followed by two days of virtual partnering on June 17-18, 23, allowing participants to continue making valuable connections from anywhere in the world.

The Investor Panels will be held live on June 16 and feature speakers from across the global early-stage investment landscape. Topics include:

Investor Panel Schedule (EDT – June 16)

These panels offer direct insight from investors and strategic partners actively funding early-stage innovation in biotech, medtech, diagnostics, and digital health.

Super Early Bird Discount Ends April 11
Register by April 11 to save $300 on your RESI Boston pass, or bundle with RESI September to save $1,000 on both events. Don’t miss your chance to join the global early-stage community and build your investor network.

This can’t-miss interview features one of the titans of the early-stage life sci VC world. Chris Garabedian, founder of the Xontogeny fund, fueled by Perceptive Advisors, shares his thoughts on you how to get your company funded, effective entrepreneurship, and what the current US and international political climate could mean for the future of biotech startups. Xontogeny is a regular at RESI conferences and will be one of the flagship investors at RESI Boston June. Focusing on seed, series A and series B, they can invest $0.5M to $20M and facilitate larger check sizes for later stages with their Perceptive Advisors umbrella. Xontogeny is open to working with all types of management teams, including first-time entrepreneurs.

This video spans multiple topics, from the benefits of engaging an experienced, active investor in the seed round, to how to Xontogeny and what Chris would like to see in the initial outreach, as well as how they may be involved in various stages of development. The video concludes by discussing the industry as it now stands, and where Chris thinks it will go, in light of the changes in recent months in the US and international political and economic climate. Chris gave a lot of very valuable advice to early-stage life science companies on how to focus on what will make their fundraise the most successful. Click on this link to view the full interview – thank you, Chris, for your time!