|By Dennis Ford, Founder & CEO, LSN|
After decades of government, nonprofit, and private funding of translational scientific research, there is a glut of early stage life science companies with great deal of promising data ready to go on to the next stage of preclinical and clinical development. However, many of these life science start-ups lack the capital to take the next steps toward commercialization for three main reasons.
Developing Relationships with New Categories of Life Science Investors Is a Challenge
The migration of VC dollars to later-stage investments has disoriented early stage fundraising executives, even though a new group of investors has surfaced to fill the early stage life science investment void. How to identify and market to these new investors remains a conundrum for fundraising executives. There is no easy solution to match up the thousands of early stage life science companies looking for capital with the thousands of early stage life science investors who have capital to invest...
At LSN's next RESI Conference, the Venture Philanthropy Panel will bring together five leaders at top venture philanthropy organizations from around the U.S. to discuss their experience with impact investing-currently one of the most talked about funding models for early stage life science investments. Typically funding on a multiyear basis, these heavily donor-funded organizations are forging a path for significant results on a quick timeline.
Moderated by Brian Horsburgh, Trustee at the NeuroNetworks Fund, the audience will hear from:
- Charlotte Hubbert, Venture Investor, Bill & Melinda Gates Foundation
- Tim Armour, President & CEO, Cure Alzheimer's Fund
- Albert Roy, CEO, Lupus Therapeutics
- Daniel Auclair, VP of Translational Research, Multiple Myeloma Research Fund
Scientists pursue many different approaches when doing lab research. However, when it comes to fundraising, they often repeat the same actions and expect different outcomes-which has been said to be the definition of insanity.
If your process for connecting with investors isn't working, don't continue to do what you've been doing. Try something different. At LSN, we use an approach we call "shaking the tree." We find that by continuing to approach investors using various tactics, some fruit usually falls.
Some investors are easy to connect with; perhaps we happen to catch them at the right time, or the first thing we say happens to catch their interest. But success on a first attempt is more a matter of luck; gathering LSN's comprehensive intelligence on life science investors requires a systematic approach...