On Thursday 21st of May, a panel including Dr Nat Hastings (CEO of Cellestial Health), Dr Jonathan Kwon (CEO of Infinitopes Precision Immunomics), Dr Stasa Stankovic (Co-founder of OvartiX), and Dr Abigail Martin (CEO of InnuneONE), chaired by Inga Deakin of Molten Ventures, discussed what it takes for a new company to be “fit to fund”.
Overall, there is a feeling that larger-scale deals are increasingly seen in life sciences, but what this means for early-stage companies is currently uncertain. There is capital available, but it comes with an expectation of robust commercial roadmaps and teams from the start.
Among other topics, pros and (at times underappreciated) cons of varied sources of funding were explored, including:
✦ Grants – positive validation and possible support from charities and patient groups; can take a lot of time and effort to manage;
✦ Academic collaborations – can allow access to KOLs and latest research models and tools; IP expectations and timelines need to be clarified from the start;
✦ VC funding – dilutive, but it is a common misconception that the first investment has to be at the highest valuation possible as it may create difficulties for further raises.
Each of these funding sources can be leveraged to build momentum and credibility as the life sciences industry continues to look for new beginnings and opportunities.