Paul Lammers discussed his experience raising funding and building a team for biotech startups. He co-founded Mirna Therapeutics in 2009 and raised over $100 million in funding including $32 million from the state of Texas and $77 million from private investors. Mirna went public in 2015, raising $48 million but was later acquired through a reverse merger in 2017 after a clinical trial failure. Lammers emphasized the importance of building a strong team, traveling extensively to meet with investors, practicing pitch presentations, and having patience and perseverance through the challenges of startup funding and development.
UPDATE: UPCOMING an analysis of my ImpactSPACs portfolio, the ImpactSPAC boom 2020-2022 performance & lessons learned.
SPACS and the UN Sustainable Development Goals,
Inclusive Impact Investing opportunities for every Global Goal!
I dive into the wonderful world of SPACs and their potential to accelerate impact, specifically the United Nations Sustainable Development Goals or Global Goals. I will work with this Global Goals & Impact Tech visual I designed a while back. It highlights the potential for exiting Tech Growth Stock investing next to debt & large cap Dividend Darlings that embrace the Global Goals in their Sustainability or ESG policy & innovative financing (Green Bonds, Social Bonds, Sustainability Linked Bonds)
Chapter 2.2: Angel Networks: Frequently Asked Questions? VC Experts, Inc.
What is an angel investor? How much do they invest and in how many businesses? What kind of companies do angels invest in? How do angels help small businesses? Let us answer these questions and more in this insightful report on all-things "angel investment."
The New Orleans BioInnovation Center presents the annual Innovation Louisiana Conference on forming, funding, and growing a bioscience startup featuring national industry experts and investors. Through panel discussions and keynotes by national experts, the conference educates life science entrepreneurs, university researchers, students, and the business community on technology innovation issues. Get educated and inspired as you work to move breakthroughs from the lab to the market. Don’t miss this important opportunity to learn about key issues from finding funding for development and commercialization to successfully introducing innovations in a clinical setting.
UPDATE: UPCOMING an analysis of my ImpactSPACs portfolio, the ImpactSPAC boom 2020-2022 performance & lessons learned.
SPACS and the UN Sustainable Development Goals,
Inclusive Impact Investing opportunities for every Global Goal!
I dive into the wonderful world of SPACs and their potential to accelerate impact, specifically the United Nations Sustainable Development Goals or Global Goals. I will work with this Global Goals & Impact Tech visual I designed a while back. It highlights the potential for exiting Tech Growth Stock investing next to debt & large cap Dividend Darlings that embrace the Global Goals in their Sustainability or ESG policy & innovative financing (Green Bonds, Social Bonds, Sustainability Linked Bonds)
Chapter 2.2: Angel Networks: Frequently Asked Questions? VC Experts, Inc.
What is an angel investor? How much do they invest and in how many businesses? What kind of companies do angels invest in? How do angels help small businesses? Let us answer these questions and more in this insightful report on all-things "angel investment."
The New Orleans BioInnovation Center presents the annual Innovation Louisiana Conference on forming, funding, and growing a bioscience startup featuring national industry experts and investors. Through panel discussions and keynotes by national experts, the conference educates life science entrepreneurs, university researchers, students, and the business community on technology innovation issues. Get educated and inspired as you work to move breakthroughs from the lab to the market. Don’t miss this important opportunity to learn about key issues from finding funding for development and commercialization to successfully introducing innovations in a clinical setting.
Start up health Insights Digital Health Funding Rankings 2016 Mid Year RankingDexter Wee
Source : Startuphealth.com
Digital Health Funding Ranking 2016 Mid Year Report
Seed and Series A deals are 65 % of the funding rounds.
7600 startups around the world.
StartUp Health Insights 2016 Midyear ReportStartUp Health
The digital health market broke historic records for midyear funding as investment reached $3.9B. Seed and Series A financing rounds are substantially equal in number, demonstrating a still thriving early-stage innovation landscape. Most funding dollars are being funneled to Series A rounds, creating opportunities for companies with validated solutions.
The SPACBoom has many interesting features and one is the Rise of the Retail Investor.
SPACs are a way for retail inventors to invest in formerly very exclusive new technology corps with great Scaling Potential. Exclusive because in the US Private Equity & Venture Capital often are for ’accredited investors only’ (classification by the SEC, Security Exchange Commission). Usually sizable investments ranging from million US$ to millions US$. Traditionally SPACs in the States were a market for institutional investors getting extra information as they brought in the big bucks for complementary PIPE funding. In the SPACBoom that changed…
Innovation Louisiana is an annual conference that helps entrepreneurs and researchers learn how to form, fund, and grow a successful life sciences startup. Expert speakers and industry investors from around the country discuss topics including funding sources, intellectual property protections, partnerships, and more. Learn more at www.neworleansbio.com/innovationla.
StartUp Health Insights Funding Report Q1 2017StartUp Health
If the first quarter of 2017 is any indication of what’s to come, 2017 is going to be another important year for digital health funding. Among this quarter’s most notable developments, the population health sector saw a large number of deals, Los Angeles emerged as a hotspot of digital health funding, and cancer detection ‘startup’ GRAIL had a record-breaking Series B further displaying the inevitable trend of ‘digital’ weaving into the fabric of every other health/healthcare sector.
Introductory presentation on how to start thinking about corporate innovation - presented on 5 April 2019 - using widely sourced materials, including Dave McClure & DMC Hats
StartUp Health Insights Global Digital Health Funding Report: 2018 Year End R...StartUp Health
Welcome to the most-funded year ever in digital health. Investments topped hundreds of millions of US dollars for the first time, with funds funneling to a broader range of cities like Bengaluru and Nashville. Globally, investors are on track to nearly double their 2017 investments, demonstrating long-term commitments, as well as overall growth potential in the market. The digital health market is as potent as ever.
On February 23, 2015, the MIT Enterprise Forum of Philadelphia hosted a forum on raising money for early-stage life science and healthcare companies. In a discussion hosted by moderator Steve Bowman of Busclarity, panelists Jim Stuber and Bernard Rudnick addressed the subject from the point of view of founder and funder, respectively, with input on IP issues from Baker Hostetler's Jeffrey Rosedale.
2016 is on track to be the biggest year yet for digital health funding. Q3 was significant with almost $2.4B in deals, nearly half of which were international. We continue to see the market expand globally, with several large deals taking place both in the US and overseas.
2017 StartUp Health Insights Year End ReportStartUp Health
As predicted, digital health investment reached new heights in 2017 with $11.5B in funding across 794 deals. Looking beyond the
numbers provides insight into a sector transitioning to a more mature phase. Deal activity at the early stage has fueled a startup
wave and a maturing market with more later-stage opportunities is attracting new investment globally. 2018 is poised to be a
dynamic year in terms of digital health funding activity, M&A and breakout successes, and experimentation paving the way for
new advancements.
Start up health Insights Digital Health Funding Rankings 2016 Mid Year RankingDexter Wee
Source : Startuphealth.com
Digital Health Funding Ranking 2016 Mid Year Report
Seed and Series A deals are 65 % of the funding rounds.
7600 startups around the world.
StartUp Health Insights 2016 Midyear ReportStartUp Health
The digital health market broke historic records for midyear funding as investment reached $3.9B. Seed and Series A financing rounds are substantially equal in number, demonstrating a still thriving early-stage innovation landscape. Most funding dollars are being funneled to Series A rounds, creating opportunities for companies with validated solutions.
The SPACBoom has many interesting features and one is the Rise of the Retail Investor.
SPACs are a way for retail inventors to invest in formerly very exclusive new technology corps with great Scaling Potential. Exclusive because in the US Private Equity & Venture Capital often are for ’accredited investors only’ (classification by the SEC, Security Exchange Commission). Usually sizable investments ranging from million US$ to millions US$. Traditionally SPACs in the States were a market for institutional investors getting extra information as they brought in the big bucks for complementary PIPE funding. In the SPACBoom that changed…
Innovation Louisiana is an annual conference that helps entrepreneurs and researchers learn how to form, fund, and grow a successful life sciences startup. Expert speakers and industry investors from around the country discuss topics including funding sources, intellectual property protections, partnerships, and more. Learn more at www.neworleansbio.com/innovationla.
StartUp Health Insights Funding Report Q1 2017StartUp Health
If the first quarter of 2017 is any indication of what’s to come, 2017 is going to be another important year for digital health funding. Among this quarter’s most notable developments, the population health sector saw a large number of deals, Los Angeles emerged as a hotspot of digital health funding, and cancer detection ‘startup’ GRAIL had a record-breaking Series B further displaying the inevitable trend of ‘digital’ weaving into the fabric of every other health/healthcare sector.
Introductory presentation on how to start thinking about corporate innovation - presented on 5 April 2019 - using widely sourced materials, including Dave McClure & DMC Hats
StartUp Health Insights Global Digital Health Funding Report: 2018 Year End R...StartUp Health
Welcome to the most-funded year ever in digital health. Investments topped hundreds of millions of US dollars for the first time, with funds funneling to a broader range of cities like Bengaluru and Nashville. Globally, investors are on track to nearly double their 2017 investments, demonstrating long-term commitments, as well as overall growth potential in the market. The digital health market is as potent as ever.
On February 23, 2015, the MIT Enterprise Forum of Philadelphia hosted a forum on raising money for early-stage life science and healthcare companies. In a discussion hosted by moderator Steve Bowman of Busclarity, panelists Jim Stuber and Bernard Rudnick addressed the subject from the point of view of founder and funder, respectively, with input on IP issues from Baker Hostetler's Jeffrey Rosedale.
2016 is on track to be the biggest year yet for digital health funding. Q3 was significant with almost $2.4B in deals, nearly half of which were international. We continue to see the market expand globally, with several large deals taking place both in the US and overseas.
2017 StartUp Health Insights Year End ReportStartUp Health
As predicted, digital health investment reached new heights in 2017 with $11.5B in funding across 794 deals. Looking beyond the
numbers provides insight into a sector transitioning to a more mature phase. Deal activity at the early stage has fueled a startup
wave and a maturing market with more later-stage opportunities is attracting new investment globally. 2018 is poised to be a
dynamic year in terms of digital health funding activity, M&A and breakout successes, and experimentation paving the way for
new advancements.
NVBDCP.pptx Nation vector borne disease control programSapna Thakur
NVBDCP was launched in 2003-2004 . Vector-Borne Disease: Disease that results from an infection transmitted to humans and other animals by blood-feeding arthropods, such as mosquitoes, ticks, and fleas. Examples of vector-borne diseases include Dengue fever, West Nile Virus, Lyme disease, and malaria.
Knee anatomy and clinical tests 2024.pdfvimalpl1234
This includes all relevant anatomy and clinical tests compiled from standard textbooks, Campbell,netter etc..It is comprehensive and best suited for orthopaedicians and orthopaedic residents.
ARTIFICIAL INTELLIGENCE IN HEALTHCARE.pdfAnujkumaranit
Artificial intelligence (AI) refers to the simulation of human intelligence processes by machines, especially computer systems. It encompasses tasks such as learning, reasoning, problem-solving, perception, and language understanding. AI technologies are revolutionizing various fields, from healthcare to finance, by enabling machines to perform tasks that typically require human intelligence.
HOT NEW PRODUCT! BIG SALES FAST SHIPPING NOW FROM CHINA!! EU KU DB BK substit...GL Anaacs
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micro teaching on communication m.sc nursing.pdfAnurag Sharma
Microteaching is a unique model of practice teaching. It is a viable instrument for the. desired change in the teaching behavior or the behavior potential which, in specified types of real. classroom situations, tends to facilitate the achievement of specified types of objectives.
Acute scrotum is a general term referring to an emergency condition affecting the contents or the wall of the scrotum.
There are a number of conditions that present acutely, predominantly with pain and/or swelling
A careful and detailed history and examination, and in some cases, investigations allow differentiation between these diagnoses. A prompt diagnosis is essential as the patient may require urgent surgical intervention
Testicular torsion refers to twisting of the spermatic cord, causing ischaemia of the testicle.
Testicular torsion results from inadequate fixation of the testis to the tunica vaginalis producing ischemia from reduced arterial inflow and venous outflow obstruction.
The prevalence of testicular torsion in adult patients hospitalized with acute scrotal pain is approximately 25 to 50 percent
New Drug Discovery and Development .....NEHA GUPTA
The "New Drug Discovery and Development" process involves the identification, design, testing, and manufacturing of novel pharmaceutical compounds with the aim of introducing new and improved treatments for various medical conditions. This comprehensive endeavor encompasses various stages, including target identification, preclinical studies, clinical trials, regulatory approval, and post-market surveillance. It involves multidisciplinary collaboration among scientists, researchers, clinicians, regulatory experts, and pharmaceutical companies to bring innovative therapies to market and address unmet medical needs.
Title: Sense of Taste
Presenter: Dr. Faiza, Assistant Professor of Physiology
Qualifications:
MBBS (Best Graduate, AIMC Lahore)
FCPS Physiology
ICMT, CHPE, DHPE (STMU)
MPH (GC University, Faisalabad)
MBA (Virtual University of Pakistan)
Learning Objectives:
Describe the structure and function of taste buds.
Describe the relationship between the taste threshold and taste index of common substances.
Explain the chemical basis and signal transduction of taste perception for each type of primary taste sensation.
Recognize different abnormalities of taste perception and their causes.
Key Topics:
Significance of Taste Sensation:
Differentiation between pleasant and harmful food
Influence on behavior
Selection of food based on metabolic needs
Receptors of Taste:
Taste buds on the tongue
Influence of sense of smell, texture of food, and pain stimulation (e.g., by pepper)
Primary and Secondary Taste Sensations:
Primary taste sensations: Sweet, Sour, Salty, Bitter, Umami
Chemical basis and signal transduction mechanisms for each taste
Taste Threshold and Index:
Taste threshold values for Sweet (sucrose), Salty (NaCl), Sour (HCl), and Bitter (Quinine)
Taste index relationship: Inversely proportional to taste threshold
Taste Blindness:
Inability to taste certain substances, particularly thiourea compounds
Example: Phenylthiocarbamide
Structure and Function of Taste Buds:
Composition: Epithelial cells, Sustentacular/Supporting cells, Taste cells, Basal cells
Features: Taste pores, Taste hairs/microvilli, and Taste nerve fibers
Location of Taste Buds:
Found in papillae of the tongue (Fungiform, Circumvallate, Foliate)
Also present on the palate, tonsillar pillars, epiglottis, and proximal esophagus
Mechanism of Taste Stimulation:
Interaction of taste substances with receptors on microvilli
Signal transduction pathways for Umami, Sweet, Bitter, Sour, and Salty tastes
Taste Sensitivity and Adaptation:
Decrease in sensitivity with age
Rapid adaptation of taste sensation
Role of Saliva in Taste:
Dissolution of tastants to reach receptors
Washing away the stimulus
Taste Preferences and Aversions:
Mechanisms behind taste preference and aversion
Influence of receptors and neural pathways
Impact of Sensory Nerve Damage:
Degeneration of taste buds if the sensory nerve fiber is cut
Abnormalities of Taste Detection:
Conditions: Ageusia, Hypogeusia, Dysgeusia (parageusia)
Causes: Nerve damage, neurological disorders, infections, poor oral hygiene, adverse drug effects, deficiencies, aging, tobacco use, altered neurotransmitter levels
Neurotransmitters and Taste Threshold:
Effects of serotonin (5-HT) and norepinephrine (NE) on taste sensitivity
Supertasters:
25% of the population with heightened sensitivity to taste, especially bitterness
Increased number of fungiform papillae
Explore natural remedies for syphilis treatment in Singapore. Discover alternative therapies, herbal remedies, and lifestyle changes that may complement conventional treatments. Learn about holistic approaches to managing syphilis symptoms and supporting overall health.
Tom Selleck Health: A Comprehensive Look at the Iconic Actor’s Wellness Journeygreendigital
Tom Selleck, an enduring figure in Hollywood. has captivated audiences for decades with his rugged charm, iconic moustache. and memorable roles in television and film. From his breakout role as Thomas Magnum in Magnum P.I. to his current portrayal of Frank Reagan in Blue Bloods. Selleck's career has spanned over 50 years. But beyond his professional achievements. fans have often been curious about Tom Selleck Health. especially as he has aged in the public eye.
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Introduction
Many have been interested in Tom Selleck health. not only because of his enduring presence on screen but also because of the challenges. and lifestyle choices he has faced and made over the years. This article delves into the various aspects of Tom Selleck health. exploring his fitness regimen, diet, mental health. and the challenges he has encountered as he ages. We'll look at how he maintains his well-being. the health issues he has faced, and his approach to ageing .
Early Life and Career
Childhood and Athletic Beginnings
Tom Selleck was born on January 29, 1945, in Detroit, Michigan, and grew up in Sherman Oaks, California. From an early age, he was involved in sports, particularly basketball. which played a significant role in his physical development. His athletic pursuits continued into college. where he attended the University of Southern California (USC) on a basketball scholarship. This early involvement in sports laid a strong foundation for his physical health and disciplined lifestyle.
Transition to Acting
Selleck's transition from an athlete to an actor came with its physical demands. His first significant role in "Magnum P.I." required him to perform various stunts and maintain a fit appearance. This role, which he played from 1980 to 1988. necessitated a rigorous fitness routine to meet the show's demands. setting the stage for his long-term commitment to health and wellness.
Fitness Regimen
Workout Routine
Tom Selleck health and fitness regimen has evolved. adapting to his changing roles and age. During his "Magnum, P.I." days. Selleck's workouts were intense and focused on building and maintaining muscle mass. His routine included weightlifting, cardiovascular exercises. and specific training for the stunts he performed on the show.
Selleck adjusted his fitness routine as he aged to suit his body's needs. Today, his workouts focus on maintaining flexibility, strength, and cardiovascular health. He incorporates low-impact exercises such as swimming, walking, and light weightlifting. This balanced approach helps him stay fit without putting undue strain on his joints and muscles.
Importance of Flexibility and Mobility
In recent years, Selleck has emphasized the importance of flexibility and mobility in his fitness regimen. Understanding the natural decline in muscle mass and joint flexibility with age. he includes stretching and yoga in his routine. These practices help prevent injuries, improve posture, and maintain mobilit
Recomendações da OMS sobre cuidados maternos e neonatais para uma experiência pós-natal positiva.
Em consonância com os ODS – Objetivos do Desenvolvimento Sustentável e a Estratégia Global para a Saúde das Mulheres, Crianças e Adolescentes, e aplicando uma abordagem baseada nos direitos humanos, os esforços de cuidados pós-natais devem expandir-se para além da cobertura e da simples sobrevivência, de modo a incluir cuidados de qualidade.
Estas diretrizes visam melhorar a qualidade dos cuidados pós-natais essenciais e de rotina prestados às mulheres e aos recém-nascidos, com o objetivo final de melhorar a saúde e o bem-estar materno e neonatal.
Uma “experiência pós-natal positiva” é um resultado importante para todas as mulheres que dão à luz e para os seus recém-nascidos, estabelecendo as bases para a melhoria da saúde e do bem-estar a curto e longo prazo. Uma experiência pós-natal positiva é definida como aquela em que as mulheres, pessoas que gestam, os recém-nascidos, os casais, os pais, os cuidadores e as famílias recebem informação consistente, garantia e apoio de profissionais de saúde motivados; e onde um sistema de saúde flexível e com recursos reconheça as necessidades das mulheres e dos bebês e respeite o seu contexto cultural.
Estas diretrizes consolidadas apresentam algumas recomendações novas e já bem fundamentadas sobre cuidados pós-natais de rotina para mulheres e neonatos que recebem cuidados no pós-parto em unidades de saúde ou na comunidade, independentemente dos recursos disponíveis.
É fornecido um conjunto abrangente de recomendações para cuidados durante o período puerperal, com ênfase nos cuidados essenciais que todas as mulheres e recém-nascidos devem receber, e com a devida atenção à qualidade dos cuidados; isto é, a entrega e a experiência do cuidado recebido. Estas diretrizes atualizam e ampliam as recomendações da OMS de 2014 sobre cuidados pós-natais da mãe e do recém-nascido e complementam as atuais diretrizes da OMS sobre a gestão de complicações pós-natais.
O estabelecimento da amamentação e o manejo das principais intercorrências é contemplada.
Recomendamos muito.
Vamos discutir essas recomendações no nosso curso de pós-graduação em Aleitamento no Instituto Ciclos.
Esta publicação só está disponível em inglês até o momento.
Prof. Marcus Renato de Carvalho
www.agostodourado.com
Lung Cancer: Artificial Intelligence, Synergetics, Complex System Analysis, S...Oleg Kshivets
RESULTS: Overall life span (LS) was 2252.1±1742.5 days and cumulative 5-year survival (5YS) reached 73.2%, 10 years – 64.8%, 20 years – 42.5%. 513 LCP lived more than 5 years (LS=3124.6±1525.6 days), 148 LCP – more than 10 years (LS=5054.4±1504.1 days).199 LCP died because of LC (LS=562.7±374.5 days). 5YS of LCP after bi/lobectomies was significantly superior in comparison with LCP after pneumonectomies (78.1% vs.63.7%, P=0.00001 by log-rank test). AT significantly improved 5YS (66.3% vs. 34.8%) (P=0.00000 by log-rank test) only for LCP with N1-2. Cox modeling displayed that 5YS of LCP significantly depended on: phase transition (PT) early-invasive LC in terms of synergetics, PT N0—N12, cell ratio factors (ratio between cancer cells- CC and blood cells subpopulations), G1-3, histology, glucose, AT, blood cell circuit, prothrombin index, heparin tolerance, recalcification time (P=0.000-0.038). Neural networks, genetic algorithm selection and bootstrap simulation revealed relationships between 5YS and PT early-invasive LC (rank=1), PT N0—N12 (rank=2), thrombocytes/CC (3), erythrocytes/CC (4), eosinophils/CC (5), healthy cells/CC (6), lymphocytes/CC (7), segmented neutrophils/CC (8), stick neutrophils/CC (9), monocytes/CC (10); leucocytes/CC (11). Correct prediction of 5YS was 100% by neural networks computing (area under ROC curve=1.0; error=0.0).
CONCLUSIONS: 5YS of LCP after radical procedures significantly depended on: 1) PT early-invasive cancer; 2) PT N0--N12; 3) cell ratio factors; 4) blood cell circuit; 5) biochemical factors; 6) hemostasis system; 7) AT; 8) LC characteristics; 9) LC cell dynamics; 10) surgery type: lobectomy/pneumonectomy; 11) anthropometric data. Optimal diagnosis and treatment strategies for LC are: 1) screening and early detection of LC; 2) availability of experienced thoracic surgeons because of complexity of radical procedures; 3) aggressive en block surgery and adequate lymph node dissection for completeness; 4) precise prediction; 5) adjuvant chemoimmunoradiotherapy for LCP with unfavorable prognosis.
Lung Cancer: Artificial Intelligence, Synergetics, Complex System Analysis, S...
"So you want to raise funding and build a team?"
1. “So you want to
raise funding and
build a team?”
Few lessons learned
Paul Lammers, MD, MSc
President & CEO
Triumvira Immunologics
InnoTech Meeting, San Antonio, April 12, 2018
2. “An often heard story…”
InnoTech Meeting, San Antonio, April 12, 2018
3. Life Sciences Venture Funding ($ millions)
2018 Year to Date
Therapeutics Diagnostics HC Technology HC Services & Other
9,222
860 815
310
87 47 35 17
Total Amount Avg Investment
InnoTech Meeting, San Antonio, April 12, 2018
4. Paul Lammers, MD, MSc
Brief career overview
Dutch Biologist & physician by training; spent almost 30 years in
pharma and biotech; all in therapeutics
Worked in Europe and US; in HQ and local sales-driven
organizations; from big Pharma (n=35,000) to small biotech (n=3)
Experience in general management, P&L responsibility, business
development, clinical development medical affairs, regulatory
affairs, drug safety, pharmacovigilance, medical information,
quality assurance, contract manufacturing
Fund raising & corporate transaction experience
Federal & State grants
Venture capital firms: strategic and traditional
IPO on NASDAQ
Reverse merger
Moved family 5 times for job opportunities
InnoTech Meeting, San Antonio, April 12, 2018
Therapeutic Modalities:
Small molecules
Monoclonal Antibodies
Recombinant Proteins
microRNAs
Engineered T cells
Therapeutic Areas:
Contraception
Infertility
HRT
Surgical muscle
relaxation
Cystic Fibrosis
Seasonal allergic
rhinitis
Erectile dysfunction
Multiple Sclerosis
Oncology
5. The Mirna Therapeutics Experience
2009-2017
$ 32 million in Texas State Funding
$ 77 million in 2 Private Venture rounds
$ 48 million IPO
Building a team along the way
Running a Public Company
Finished with a Reverse Merger
InnoTech Meeting, San Antonio, April 12, 2018
Austin, Texas
6. Mirna Therapeutics
Fund Raising & Team Building Chronology
Mirna Therapeutics spin-out from Asuragen in Austin: received $ 5 million in operating expenses and IP
(became Series A)
Joined as President & CEO in Nov 2009 (employee nr. 7), with BOD charter to “Turn company into a
Therapeutics Company”
Dec 2009: Received $ 5.0 Million from Texas Emerging Technology Fund (TETF)
Started to build the team: hired industry-experienced individuals from Genentech, Pfizer, Azaya; half
the team came from Southern California; n=12 total
2010: on the road trying to raise $15 million; interest from NEA & Pfizer Ventures, wanted to co-lead a
$25 million round, but ‘data talks’….
2010: Were successful in first ever Cancer Prevention & Research Institute of Texas (CPRIT) round of
financing: 3/42 companies awarded; received highest award: $10.3 million
InnoTech Meeting, San Antonio, April 12, 2018
7. Texas State Funding
Great non-dilutive money, but still….
Texas Emerging Technology Fund (TETF):
Basically, almost every company that requested money, did get it ($250K - $ 5 M)
Legislature not in favor; program fizzled out
CPRIT: “there is pros and cons to everything in life….”
Key issue to consider in application: “It is not all about the science”
Great non-dilutive money
Accounting and auditing requirements are high
InnoTech Meeting, San Antonio, April 12, 2018
8. Mirna Therapeutics
Fund Raising & Team Building Chronology
2011: $ 1.5 million (internal) Series B as qualifying round for TETF; could still
convert at first external round at 20% discount (“a really bad deal…”)
2011-2012: On the road trying to raise a $25 million, first institutional, Series C
round: “Having money in the bank is a double-edged sword”
October 2012: Raised a $35 million Series C, with Sofinnova, NEA, and Pfizer
Ventures (PVI) as anchor investors, and Osage University Partners, Correlation
Ventures, and internal HNWI as ‘followers’
Built a very strong Board of Directors: a HUGE advantage!
Further expanded the team (n=21)
InnoTech Meeting, San Antonio, April 12, 2018
9. Road to the IPO
“May You Live in Interesting Times”
2012 – 2014: The world of IPOs is heating up big time, including several of Mirna’s
competitors (Regulus Therapeutics; Dicerna Pharmaceuticals)
InnoTech Meeting, San Antonio, April 12, 2018
10. Sept 2013: BOD decides to take Mirna public on NASDAQ
2013 – 2014:
Built a bankers syndicate: ideally a mix of ‘bulge bracket’ and niche sell-side
banks
Meet with a lot of banks; focus on experience and reputation of research
analysts (“be prepared for change”)
Syndicate I identified:
Hired a corporate law firm with lots of experience in biotech IPOs
Latham & Watkins (Menlo Park, CA)
Weekly S-1 drafting sessions F2F with bankers and lawyers
S1-drafting is a time- and energy-consuming exercise
Road to the IPO
“May You Live in Interesting Times”
Bookrunners
Leerink Cowen
Co-Managers
RW Baird Wedbush
InnoTech Meeting, San Antonio, April 12, 2018
11. June 2014: Mirna files confidentially for IPO (JOBS Act)
Mid 2014: Banks organize 34 ‘Test The Water’ (TTW) meetings with buy-side
investors:
NYC, Boston, San Francisco, San Diego, Los Angeles
Banks collect potential investor feedback after the meetings:
# 1 issue = The Team !
Key feedback received:
1. We would like to see several encouraging responses in the clinic
2. Have you considered conducting a mezzanine/cross-over (XO) round of
financing first, before going public?
Sept 2014: BOD decides to put IPO in hold, pursue XO round first
Road to the IPO
“May You Live in Interesting Times”
InnoTech Meeting, San Antonio, April 12, 2018
12. Mezzanine Round of Financing
March 2015
Q4 - 2014: Back on the road trying to raise funding; receive term sheet from Baxter Ventures for
a Series D mezz round on Christmas Eve
Jan 2015: Start marketing the TS during JP Morgan
We observe patient responses in Phase 1 trial (PRs; SDs)
March 2015: Close Series D with good group of investors:
Baxter Ventures as lead (but only ‘Board Observer’ seat)
Sofinnova, NEA and PVI as anchors take 50% of round
XO investors include: Eastern Capital; Celgene, Rock Springs Capital; Sante Ventures,
Morningside, Osage University Partners, Correlation
Target raise $25 million; over-subscribed: raised $35 million
InnoTech Meeting, San Antonio, April 12, 2018
13. Q2-2015: BOD decides to re-initiate the road to an IPO
Identified a new bankers syndicate (2):
Bookrunners to split 80%
Co-Managers’ pity fight over how to split 20%
Sept 2015: Mirna files S-1 publicly
IPO Target $ 68 million @ price of $13-15/share
Mirna hires experienced public company CFO
Initiate IPO road show:
69 meetings in 7 days: PA – Baltimore – NYC (2 days) – Boston – San Francisco – Los
Angeles – Denver – San Diego
Lots of interest, banks excited about building a promising ‘order book’
InnoTech Meeting, San Antonio, April 12, 2018
Road to the IPO
“May You Live in Interesting Times”
Bookrunners
Citi Bank Leerink
Co-Managers
Oppenheimer Cantor Fitzgerald
14. Day before Pricing: Martin Shkreli happened: biotech values drops 22% !;
several interested parties back out
Sept 30, 2015: Mirna closes IPO: gross proceeds of $48 million @ price of
$7.00/share; insiders take 50% to maintain relative percent ownership
Cost of IPO: ± $ 3.5 million, mostly law firms & printer
Banks distribute ± $ 3.3 million (7%) amongst the syndicate
Received 2nd CPRIT Award of $16.7 million on same day as IPO and at same
price
InnoTech Meeting, San Antonio, April 12, 2018
Road to the IPO
“May You Live in Interesting Times”
15. The End of Mirna
A Reverse Merger
Immune-related adverse events developed in about 10% of patients treated in a Phase 1 clinical
trial, including life-threatening Cytokine Release Syndrome
Decision made in Sept 2016 to stop the program; Board accepted my suggestion to not try to
discover a new delivery method (despite $ 60 million in the bank)
From 36 employees down to 12, then down to 4 till the end
Oct 2016 – August 2017: Wedbush hired to manage a potential strategic transaction process
Initial interest was enormous: ± 140 companies; Meetings held with 49 (!) companies
Funnel evaluation process ended with 5 lead companies; Synlogic (Cambridge, MA) selected
Drafting S-4 more work than S-1; Reverse merger completed August 2017
InnoTech Meeting, San Antonio, April 12, 2018
17. Building your Team (‘it all depends…’)
The small biotech conundrum:
“You need a team to raise the money, you need money to raise a team”
InnoTech Meeting, San Antonio, April 12, 2018
Initial Critical Functions
Finance
CMO
CSO or CTO
Preclinical Development
Project & Outsource Manager
R&D scientists
Initially Not So Critical Functions
Regulatory Affairs
Clinical Operations
Manufacturing
Business Development
Administrative Assistant
Outsource
Do it yourself
18. “Will Travel for Food”
InnoTech Meeting, San Antonio, April 12, 2018
“If you want to raise money
for your company, you live in
Boston, New York,
and San Francisco”
19. “Will Travel For Food”
2014 - 2015: ± 150 investor meetings
JP Morgan Healthcare Conference (SFO)
BIO CEO Conference (NYC)
BIO Investor Forum (SFO)
BIO-Europe
BIO Sofinnova Conference (JP)
Bio Int’l Convention (cave: do not present)
Sachs Investor Forum
Biotech Showcase (SFO)
MedPace Forum (SFO)
Etc.
InnoTech Meeting, San Antonio, April 12, 2018
• Be prepared to present in front of a tiny audience
• Be prepared to only have service providers attend your presentation,
just to introduce themselves to you after the talk
• Be prepared to pay about $3,000 for each presentation
20. “Will Travel For Food”
All of the Other Meetings
Boston Biotech CEO meeting (a lot of peers, a decent number of investors)
NY Biotech CEO meeting (a lot of peers, a decent number of investors)
Therapeutic Area meetings: e.g., for oncology
AACR
ASCO
ASH
SITC
IO meetings
Texas Life Sciences Venture Forum
Texas Life Sciences CEO Meeting
Etc.
InnoTech Meeting, San Antonio, April 12, 2018
21. The Investor Pitch
“Practice Makes Perfect”
Be prepared for presentations of:
60 - 45 - 30 - 20 – 15 – 8 – 4 minutes
“If you cannot do PowerPoint, you will not be successful in business”
“I know you love the science, but easy on the data dump” (back-up slides)
Be prepared to give the same talk 10 times in a row (and last one should
sound as enthusiastic as first one)
Tell yourself “You can do it, You can do it, and….You can do it”
InnoTech Meeting, San Antonio, April 12, 2018
‘ridiculous territory’
22. So You Want To Be A Public Company CEO…?
Be Careful of What you Wish for
Pay is bigger, but so is personal accountability….(D&O insurance!)
Awesome in good times, but we all know, those normally don’t last….
Be careful what you promise, because if you don’t deliver, Wall Street can be ruthless….
Institutional investors are mostly great, but retail investors can a be a royal pain…
Please don’t watch your company’s ticker symbol more than once a day, will drive you
crazy..
‘Stocks go up on rumors, go down on news’, so hold on for the ride!
InnoTech Meeting, San Antonio, April 12, 2018
23. PATIENCE
InnoTech Meeting, San Antonio, April 12, 2018
PERSEVERANCE
BUILD TRUST
BE HONEST & OPEN
STAMINA
BUILD CONNECTIONS
SHOW CONFIDENCE
The Bottom Line