Life Science Nation’s RESI Conference – The Sweet Spot

Ying Tam
An interview with Life Science Nation’s CEO Dennis Ford regarding the up and coming Redefining Early Stage Investments conference series

– By Ying Tam, Managing Director, Health Ventures, MaRS

Dennis Ford

With the Redefining Early Stage Investments Conference headed back to MaRS on April 10th, Next Phase would like to revisit this interview between Dennis Ford (CEO, Life Science Nation) and Ying Tam (Managing Director, Health Ventures, MaRS). Read on for a discussion of how RESI’s unique high-touch Partnering system and 1:1 ratio of investor to startup attendees makes RESI a standout event for fundraising CEOs.

Ying Tam, Managing Director, Health Ventures, MaRS:

Dennis, what is the key differentiator of the Redefining Early Stage Investments (RESI) Conference?

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

The sweet spot – RESI is the only “dedicated” early stage global investor conference out there that I can find. We attract investor attendees from 10 categories of early-stage investors. Also, RESI is one of the very few conferences that is cross-domain, in that it features Biotech, Medtech, Diagnostics and Health IT. Many investors have multiple investment mandates covering multiple silos in the life science arena.

What is also compelling about RESI is that it is an ongoing conference series that takes place at all the major technology hubs of North America. The basic RESI format is unique in that it is held regularly every few months at these innovation hubs (an industry first) and gives both fundraising CEOs, early stage investor/partners and service providers a capability to use RESI as part of their ongoing yearly business activities. Scientist/entrepreneurs can weave themselves into the RESI conference series and dramatically increase face time with prime partnering targets. The ability to carry on that dialogue every few months greatly aids in transmitting the latest information and cultivating the relationship.

Ying Tam: Who does the RESI Conference compete with?

Dennis Ford:There are other conferences with which we share the marketplace. Other conferences tend to be information-centric, as opposed to relationship-centric. The conferences are either more general, including later-stage investing, or specific in their content to a particular sector of the life sciences. In contrast, RESI has 16 panels dedicated to early-stage investment content aimed precisely at fundraising CEOs and scientist-entrepreneurs.

Ying Tam: Explain how you and other conferences know you are getting the right investors?

Dennis Ford: I attend these conferences regularly and pay very high fees to go and therefore get the attendee lists. For example, at one conference, I download the alleged 120 investors attending and gave them to our research group to validate. What we found was only 22 investors that actually had investment mandates for early-stage preclinical companies and the rest were I-Banks, consultants, and finance BD folks who go to these events trying to get fundraising CEOs to pay them a monthly stipend for services to aid in raising capital. RESI only allows “real” investors with vetted mandates. RESI investors need to adhere to these strict guidelines. RESI@JPM had 500+ investors so the numbers speak for themselves.

Ying Tam: What about Pharma partners?

Dennis Ford: All of the Big Pharma players globally regularly attend RESI conferences and present on our RESI panels. They are seeking technology assets for their pipelines. Pharma attendees are the scouts and BD players and are typically the buy-side staff for the Pharma.

Ying Tam: How is RESI business model different?

Dennis Ford: I created the RESI conference and the business model is a real challenge because the price point has to stay relatively low for our scientist-entrepreneur and fundraising CEOs audience. The challenge is investors don’t (and won’t) pay, so only half the attendees pay and that makes it hard from the business side. I can understand why other conferences in the market are more general and have a broader content reach as that really helps the bottom line. That said, RESI is a success on many other fronts which is providing a vehicle every 45 days for CEOs to get in front of investors and start a dialogue that leads to a relationship and, hopefully, an allocation. We now have 5 RESI conferences a year – JPM, Toronto, BIO, Boston and NYC, and that means that a CEO can get 16-20 investor meetings per event and that is a BIG deal as fundraising is a numbers game. RESI provides a vehicle to match up investors and scientist-entrepreneurs and, if they attend all 5 RESI meetings, can have up to 100 investor meetings and that is a game changer.

Ying Tam: How successful is RESI in terms of getting companies funded?

Dennis Ford: We have run some metrics and have found 15-20% of the firms who buy our global investor database, attend our RESI conferences, and use the techniques outlined in my book do raise capital. We can do better than that but that would mean really getting the sell-side players educated and more efficient at branding and messaging and understanding how to run a compelling fund raising campaign.

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

Dennis Ford is an entrepreneur and author with expertise in sales, marketing, and business development. He has spent most of his career launching new companies. Over the last decade, he has worked extensively with global alternative investors interested in high-growth early-stage technologies. His expertise encompasses using database subscription services to create business solutions and using the Internet to create an interactive dialog between buyers and sellers. He is a big proponent of using profiling and matching technology to find that all-important business fit in the marketing and selling process. Before LSN, Dennis was the President and CEO of Brighton House Associates (BHA). BHA was launched in order to improve the way hedge fund and private equity fund managers raised capital and marketed their funds to investors. Ford is the author of The Peddler’s Prerogative and The Life Science Executive’s Fundraising Manifesto, two well-received sales and marketing books.

Ying Tam, Managing Director, Health Ventures, MaRS

Ying Tam is a seasoned entrepreneur and business executive, and is currently Managing Director, Health Ventures for MaRS, one of the world’s leading urban innovation hub. MaRS works with a large network of corporate partners and venture funds to help entrepreneurs launch and grow the innovative companies that are changing the future. Ying has co-founded several start-up companies, including Mindful Scientific, a medical device company addressing concussion diagnostics and management, abridean (acquired by nCipher PLC), a software company developing application provisioning and identity management solutions, and i-HRx (acquired by Healthconnex), a digital health company focused on chronic disease management. He has significant strategic and functional experience with operating roles in a wide range of organizations, from early stage companies to major multi-national corporations.

Hot Investor Mandate 1: Newly Founded Family Office Actively Seeking Early-Stage Life Science Investments, from Pre-Clinical Stage Assets to Medical Devices

A newly formed Delaware family office investment vehicle representing East Coast-based family interests is looking to invest in ground-breaking life science and medical device technologies. While the firm is very flexible in terms of investment size, they are generally looking to invest a minimum of $0.5 million per round. The firm is open to Investing in companies located throughout North America and Europe.

The firm is looking for breakthrough technologies with a strong social ethos in the Therapeutics, Medical Device and Diagnostics Sectors that address underserved medical needs, or provide innovative and disruptive approaches to common medical procedures and treatments. The firm invests on an opportunistic basis and are especially interested in areas of intersecting technologies, such as nucleic acid-based drugs and delivery, regenerative medicine and cell- based therapeutics.

The firm is less interested in small molecules and generally will not consider biosimilars or other technologies for which there is already multiple therapeutic options. The firm is looking for niche disease areas where disruptive therapeutics have the potential to be truly disease- modifying, not just provide symptomatic relief or palliative care. The firm typically is interested in preclinical stage assets that have well-developed animal model dossiers to Phase II or early Phase III stage assets. The firm’s investment mandate particularly focuses on “smart” clinical trial formats such as adaptive trials and Master Protocol trials for capital efficiency.

For devices, the firm is looking for devices that address and perhaps substitute for a pharmacologic in a given therapeutic market, such as deep brain stimulation technologies and orthopedics. The firm is generally not interested in cardiovascular disease or diabetes.

The firm is currently reviewing co-investment opportunities in private companies and on an opportunistic basis, considering investment in micro-and small-cap public companies as a direct investor.

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

Hot Investor Mandate 2: Chinese Government Partnered VC Firm Invests in Therapeutics and Clinical Testing Companies, with Focus on China Angle

A venture capital firm partnered with the Chinese Government was founded in 2016, and focuses on cross-border investments. When investing, the firm doesn’t only provide financial capital, they also provide their global consulting services focused specifically on helping companies work across borders and in China. With the Chinese Government partnership, the firm seeks to bring good projects from North America to China and are focused on technologies that are at an advanced stage with patents that are willing to launch in Chinese markets or to set up factories and labs in China. The firm is however, willing to invest smaller amounts in good opportunities that have no interest/fit for the Chinese markets as well. The firm’s major focus within the life sciences is biotech and is focused on seed to series B rounds. The firm generally invests up to $10M USD for Series A deals, is flexible for series B rounds, and invests up to $1M USD for seed stage rounds.

Within the Life Sciences space, the firm is specifically focused on clinical tests, therapeutics, and other biotech technologies. The firm is also willing to look at medical devices to a small degree but is not very familiar with those technologies. Additionally, the firm is focused on technologies within these sectors that have a good fit with the Chinese Market or have a strong interest in working in China.

When investing, the firm looks to take a board seat. The firm provides consulting, localization services, and the ability to leverage resources in China to help the company grow alongside their direct equity investment and believe that these abilities can be best leveraged with a board seat.

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

Hot Investor Mandate 3: Investment Arm of Major China Genomics Company Looks for Complementary Early-Stage Genomics & Big Data/AI Technologies

A branch of a subsidiary of a major genomics sequencing company in China is actively seeking technologies from the US, Canada, and China that will complement what they currently have. In addition to direct investments, the firm often functions as a strategic partner that can help provide a technology platform for a startup or even integrate the new technology into their system. The firm also provides access to their large marketing team once the product is developed to help the startup during their commercialization phase. The firm is currently interested in early stage companies: usually at seed to series A and is rather flexible as to the financing terms. Additionally, the firm is willing to work through either partnerships or direct investments.

The firm is actively seeking new genomics technologies. Currently, the firm is interested in any technology within diagnostics, digital health, and medtech that has a focus on genomics. Within the diagnostics and medtech sectors, the firm is particularly interested in sequencing technologies currently, but is willing to see all early stage genomics-based technologies within these sectors. For digital health, the firm is interested in companies involved in big data and AI that already have algorithms that can utilize the large pool of genomics data that the firm currently has access to.

When investing, the firm likes to take an active role in the company and prefers taking board seats but does not require a board seat. Otherwise, the firm prefers to work with companies that the firm can work with and help develop into either a potential integration or a productive partnership.

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

Hot Investor Mandate 4: Canada-Based Private Investment Firm Invests Opportunistically in Early-Stage Life Science & Healthcare Companies

A Canada-based private social venture capital firm invests in early-stage companies, and is currently interested in new developments in the healthtech and biotech sectors. The firm is open to exploring a wide range of opportunities. The founder of the firm is an accomplished investor of 20+ years with a track record of scaling successful businesses, mostly in the technology sectors. The founder has also established a foundation to support the growth and activities of organizations dedicated to developing innovative, system-changing solutions with high potential for global impact. With both initiatives, the founder has been actively working with like-minded companies and funds in Canada.

The firm’s initial investments are generally in the $100-500K range with a few exceptions. Their geographical focus lies in North America and all investments have been based in USA and Canada, but the firm is open to considering global opportunities.

The firm has broad interests in life sciences and is open to considering all early-stage opportunities in therapeutics, medical devices, diagnostics, and healthcare IT. The firm is particularly interested in preventative/proactive technologies that can significantly benefit health management.

The firm does not have specific management team requirements but prefers to see teams with a successful track record and relevant expertise. The firm generally does not lead investment rounds or seek board representation.

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

RESI Partnering Launches On March 12th

By Lucy Parkinson, VP of Investor Research, LSN

Toronto Health Innovation Week is coming up in early April, and when RESI Partnering launches on Monday March 12th, RESI on MaRS attendees will be able to book meetings with other participants.  LSN is projecting a total of about 700 attendees, and we expect meeting spots to move fast.

With both local Toronto firms and global strategic investors in attendance, the investors attending RESI on MaRS represent a huge pool of capital, and RESI’s unique Partnering system allows those investors to home in on the startups that match their technological focus areas and investment criteria.  Look below to see which investors you could meet at RESI.

Confirmed Investors and Strategic Partners

As of March 7th, 2018

Upcoming Webinar: Source, Vet, and Rank Life Science Technology Assets

By Dennis Ford, Founder & CEO, LSN; Creator of RESI Series
Dr. William Kohlbrenner, CSO, LSN

bill-1010-2wp

There is a highly competitive search underway for promising early-stage assets as pharma and medtech companies around the globe seek to fill their pipelines with new products through in-licensing. In the past, successful in-licensing strategies typically required well-funded, fast-moving business development teams, strong research capabilities and on-the-ground scouts deployed in top technology centers. However, these investments do not always guarantee success in today’s highly competitive environment where the ability to uncover and aggressively pursue novel product opportunities is key. In addition, companies without the resources to build global business development teams or Asian companies seeking to access emerging technologies in the US/Europe can find themselves at a significant competitive disadvantage.

To help address these challenges, Life Science Nation (LSN) has developed a Sourcing and Ranking Service (SRS) which provides clients with a strategic opportunity to quickly source, vet, rank and engage with early-stage partners developing technology assets that are available for in-licensing. LSN’s unique position in the early stage space, and the range of capabilities we have developed, provide a strong foundation for SRS. By leveraging the LSN global partnering platform and our extensive experience assessing technology assets, SRS will efficiently find and do a preliminary risk analysis of promising assets, thus enabling our clients to quickly focus on top-tier assets that align with their interests. Our ultimate goal is to provide clients with a service that allows them to bypass the research and technology vetting stages and position them to enter into diligence with the owners of the technologies in which they are interested. Most importantly, LSN brings global capabilities, which allows us to take on clients interested in any commercial market. SRS has built-in flexibility, which means clients can ‘pivot on the fly’ as they learn more about the early-stage domains of interest.

LSN has developed a unique process that works with the client’s strategic pipeline goals. Starting with a detailed assessment of the client’s investment interests, LSN will conduct a global search for assets within that interest area. LSN’s Expert Ranking System will then be used to stack-rank assets based on technical and business criteria (80 to 100 assets anticipated). By playing a global numbers game, our clients have access to a larger pool of technologies, which casts a wider net and allows the identification of top technologies for in-licensing. LSN will conduct a detailed assessment of the companies holding the top 10 to 20 assets. Clients will have access to an on-line ‘data vault’ with all asset information. By merging LSN database search results with Salesforce.com, we offer our clients a customized CRM solution. Every client is provided with a transparent cloud-based portal that provides real-time project status and views into ongoing dialogues with all the potential firms involved in the process. Clients rave about having this 24/7 connectivity to the CRM and feel they are a part of the process.

You can register for this webinar at the links below:

Tuesday March 27th, 10:00pm EDT

Wednesday March 28th, 9:00am EDT

Thursday March 29th, 1:00pm EDT