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Capital, Talent, & Technology

Posted By Administration, Thursday, August 23, 2018
Updated: Wednesday, August 22, 2018

Dear Members and Friends,

Capital, talent and technology are essential for your life science company to succeed, and for the state industry to thrive. Let’s take a quick look at access to capital - recent developments and help for you in the months ahead.

The last several months reflect a good streak of companies landing capital from a wide range of sources. To mention just a few … Adial Pharmaceuticals closed its IPO several weeks ago with gross proceeds in excess of $7M; Polymer Solutions was acquired by a leading international strategic SGS; and Cadence was acquired by a leading private equity firm providing capital to fuel continued impressive growth. Among others Bonumose, Caretaker Medical, Ceres Nanosciences, First String Research, Immunarray/BrainBox Solutions and Nutriati closed significant private investment rounds this year.

University of Virginia’s Licensing and Ventures Seed Fund announced a new investment in a medical device spinout, 510 Kardiac. Earlier this year Inova launched a new Translational Research Funding Program. The Virginia Catalyst (VBHRC) recently announced a $2.7M round of grants awarded and has opened the next (9th) round for applications. CRCF recently made a new round of awards including many life science companies. SBIRs were awarded to multiple applicants around the state. Thanks again to CIT for tirelessly traversing the state to teach best practices for successful SBIR applicants.

Every month Virginia Bio makes available to members via our website a fresh, comprehensive list of scores of nondilutive federal funding for life sciences and medicine from all areas of the federal government, prepared by our consultant G2G. Under our agreement, G2G also offers our members a free first hour consultation. For a good number of companies nondilutive federal funding has been a key strategy and essential for the journey to mature capitalization. If you don’t access these regularly but want to, contact Caron Trumbo at Virginia Bio to get started.

Southeast Bio annually brings together investors who are actually making investments in life science companies from Virginia to Florida in its flagship conference, this year in Atlanta on November 13-14. https://www.southeastbio.org/ The deadline for companies to apply on line to be selected as presenters, either on the Early Stage or Main Stage, is very close - August 28. Virginia Bio is bringing David Day, Executive Director of SEBio, to Virginia on September 19 for a networking reception from 5:30 – 7:30 pm at the iLAB in Charlottesville. David is one of the great connectors in the Southeast. Previously for many years he served as Assistant Vice President for Technology, Transfer and Director, Office of Technology Licensing for the University of Florida (UF) leading their commercialization efforts and gaining recognition as one of the top five programs in the nation. By the way, SEBio annually awards honors healthcare and life sciences organizations in the Southeast US whose achievements are bringing the region into focus as a hub of medical and technological innovation, and nominations are open until noon September 17.

Finally, it’s not too early to make your plans for JPMorgan Healthcare Conference week in San Francisco in early January 2019. Once again we’ll coordinate the Virginia Reception at the prestigious Velvet Room of the Clift Hotel on Sunday evening, January 6, at 5:00 – 7:00 pm. We’ve also arranged again for use of the popular suite of private and semiprivate meeting rooms at the Clift which are available to our members and can be reserved and guaranteed on our website in advance. For companies in SF for the JPM Phenomenon, the reception and meeting rooms provide great venues to meet new contacts and to invite colleagues. If you’d like to help move this ahead, let us know and we’ll hook you up with Warren Martin, with global M&A advisors Falls River Group, who again will lead the committee making this happen.

 

Best Regards,

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