Life Science Washington Innovation and Commercialization Program Linette Demers, PhD Vice President Commercialization Life Science Washington
Life Science Washington • Washington’s Life Science Trade Association • Mission: To support and help grow Washington’s life science industry • 501(c) 6 Non-Profit • ~650 members • Strategic Priorities; Commercialization • Capital formation • Talent • Policy • Group purchasing • Building community • 2
What Could Go Wrong? Common pitfalls … Elegant solutions to non-problems • Not doing enough upfront • homework Wasting resources on overly • complex products • Features that are not important but increase cost, complexity and risk • In love with the technology or science Non-investable management • pitching the company 3
How Can We Help? 1. Advice and Education: • Pro-bono consult program • Biopharma/Med Tech • Digital health • Global health commercialization • WIN Mentoring Program • Team-based entrepreneur mentoring for promising seed-stage ventures 4
Commercialization Consulting • Where to start? A pro-bono consult with an expert! • A sounding board for pitch coaching, capital formation advise, and more • Schedule a consult by contacting Linette@lifescienceWA.org Our Expert Consultants Chris Porter Geof Baker Paul LeBarre Lotte Steuten Experienced serial Digital health & HIT Global health Health economics entrepreneur consultant technology expert and value expert 5
WIN Entrepreneur Mentoring Program WIN : Milestone-focused team mentoring for early stage life science ventures • The WIN Mentoring Program gives promising early stage WA Life Science ventures world-class advice & assistance through their most critical stages. • Entrepreneurs receive advice from Business Milestone Focus Areas: teams of professional with deep and Ø Company Formation diverse expertise in commercialization Ø Regulatory and Reimbursement Strategy and business execution. Ø Product Development and • Apply to join! Management Linette@lifescienceWA.org Ø Business Operations Ø Sales and Market Strategy 6
How Can We Help? 2. Partnerships and Capital Formation • Non-Dilutive Funding • SBIR/STTR Grant writing Support • Venture Investment and Partnering Forum connections to: • Venture Capital • Strategic Investors • Angel Capital • WINGS – The Med Tech Angels 7
WINGS – The Med Tech Angels WINGS is a non-profit angel network that • facilitates seed and early stage investments for medical technology companies in WA State. Formed in 2010 • 38 WINGS angels (2015) • 19 companies have received WINGS • investments 2010-2015, totaling over $11M. Medical Technology Focus: • • Therapeutic and Diagnostic Devices • Healthcare IT • Healthcare Delivery Models • Unregulated biotech development tools
Venture Investing and Partnering (VIP)Forum ‘VIPs’: VIP Forum @ LSINW June 1-2 • Strategics or VCs seeking investments 8 VIPS including… and strategic partnerships in WA State • Participate in a ‘VIP Partnering Day’ “…accelerate the development of promising technology in cardiovascular, metabolic and You: neurovascular disease through targeted • Want to meet visiting strategic investments in and support of early stage venture…” partners or investors • Submit an application describing your venture/innovation/research “…new products focused in the areas of respiratory, infectious diseases, immune- • Attend plenary and networking inflammation, immune-oncology, dermatology, session orphan diseases, metabolic pathways, neuroscience and cardiovascular. We would • If selected, meet 1:1 with VIP for 30 also like to meet with companies who have novel minutes platform technologies…” 9
How Can We Help? 3. Connections and Networking • >60 education and networking events annually • Life Science Innovation Northwest June 1-2 • Call us! • Lab space, talent, referrals to specialized expertise, discounts through BIO purchasing program, etc… Linette@lifescienceWA.org 10
Life Science Washington Commercialization Programs: How Can We Help? RESEARCH SEED SERIES A SERIES B SERIES C/ EXPANSION Non-Dilutive Funding Grant-specific programming and one-on-one meetings with NIH SBIR/STTR and other granting agencies Commercialization Consulting Advice & guidance on what it takes to start, fund and run a life sciences company. Includes our BioEntrepreneur Startup Kit and pitch coaching in biopharma, medical technology, digital health, and global health Washington Innovation Network (WIN) Mentoring Program A team-based approach to provide young companies with advice & guidance from seasoned entrepreneurs WINGS: The Medtech Angel Network An investor network focused on seed and early-stage medical technology and digital health/HIT Venture Investment and Partnering (VIP) Forums Informative Plenary Session, networking with VIP executives and other entrepreneurs, one-on-one meetings with visiting venture capital and strategic investors PROOF OF PRINCIPLE/ PROOF OF CONCEPT PRODUCT DEVELOPMENT COMMERCIALIZATION, REVENUE/EXIT FEASIBILITY MARKETING, SALES, MANUFACTURING Questions about any of these programs? Contact Linette Demers 11 ( linette@lifesciencewa.org ) for more information
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