10Q vFocus: F&G for LIFE SCIENCES
Most life sciences innovations are highly regulated, often taking a decade or even decades to come to market. That makes the Fear & Greed of…
Most life sciences innovations are highly regulated, often taking a decade or even decades to come to market. That makes the Fear & Greed of…
Most life sciences innovations are highly regulated, often taking a decade or even decades to come to market. That makes the Fear & Greed of different audiences highly sensitive to the type of innovation. It also should make you highly sensitive to selecting the right audience.
The table layout highlights:
For innovators who want to commercialize a therapeutic molecule, the multi-billion dollar price tag for go through the entire drug development pipeline including clinical trials is often unrealistic. Instead, the focus is on having a multinational pharmaceutical company obtain a license for your molecule once efficacy has been established.
# | Question Pitched to... | Equity Investors | Strategic Investors | Grant Manager |
---|---|---|---|---|
01 | Who cares? | • Understand your target • ID sig market pain & size | • Understand their goals • ID sig problem to solve | • Understand their goals • ID sig problem to solve |
02 | What do you do? | • Focused on business • Compelling secret sauce | • Focused on solving problem • Compelling secret sauce | • Focused on solving problem • Compelling secret sauce |
03 | Why will you win? | • Understand your competitor • Show advantages in benefits | • Understand your customer • Show advantages in benefits | • Understand your competitors • Show advantages in benefits |
04 | How will you stay ahead? | • Have thoughtful strategy • Validate ongoing advantage | • Have potential for longevity • Validate ongoing advantage | • Have thoughtful strategy • Validate ongoing advantage |
05 | Does it work? | • Show compelling in vitro data • Show compelling in vivo data | Show compelling model data • Show compelling in vivo data | • Show compelling model data • Show compelling in vitro data |
06 | How will you make money? | • Not relevant: licensee will take to market | • Understand customer model • Show fit in their model | • Not relevant: licensee will take to market |
07 | How much will you make? | • Not relevant: licensee will manage financials | • Know their model • Show their exciting growth | • Not relevant: licensee will manage financials |
08 | Why you? | • Show your competence • Passion for your success | • Show your competence • Passion for their success | • Show your competence • Passion for your success |
09 | What will you do? | • Have viable plan for regulatory approval • Be ready for license in x years | • Have plan for joint goal • Meet time frame for goal | • Have viable plan for program • Be able to complete in grant time |
10 | How much will it cost? | • Have viable budget for plan • Know your valuation | • Have viable budget for plan • Improve their bottom line | • Have viable budget for plan • Have backup plans |
Coming soon:
Diagnostics are a two-edged sword: point-of-care and low-cost solutions can attract attention, but well-publicized failures (e.g., but not only, Theranos) make many investors very cautious about investing in them.
Medical device innovations are challenging to commercialize because they often face similar risks due to regulatory barriers as drug molecules, but they rarely have as much potential upside.
The entire health industry is slowly and painfully going trying to catch up to modern technology. The opportunities are enormous BUT the industry is conservative. No one wants to spend money changing the way practitioners manage their patients, especially given the privacy issues and the risks to the patients of any errors in their records.
The barriers faced by nutraceuticals depend on just how great the claims are. If you promise health benefits, you must go through FDA procedures (or whatever regulatory agencies are present in your country). That is a long, slow and expensive process, so many choose to avoid specific claims initially to try to get revenue in the short terms while pursuing regulatory approval in parallel.
Cannabis remains a hot and growing industry, albeit with more legal and regulatory issues in many states and countries than almost any other type of therapeutic. It's also a crowded and noisy industry with a reputation that varies with your target audience. Differentiating your approach and reducing the varied risks from your audience's perspective should be top of mind when answering the 10 Questions.
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Short discussion to identify the best way to proceed for your situation.
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