MedTech Innovator, the premier nonprofit startup accelerator in the medical technology industry, today announced Sana Health as the winner of its 2018 global competition. The company was selected in a live audience vote on Sept. 25 at The MedTech Conference, powered by AdvaMed, in Philadelphia.
In many people's eyes, biotech companies are money blackholes. A typical startup spends its first 5 or even 10 years of life consuming huge sums of cash, without churning out any revenue, let alone profit.
This doesn't sound like an attractive proposition to either entrepreneurs or investors. After all, everyone wants a bit more transparency and a little certainty along the journey. Is this possible?
Starting a biotech company is a monumental task. Entrepreneurs need to be prepared to commit for the long term, and spend tens or hundreds of millions of dollars before reaching the first customer. It is a dark and winding tunnel fraught with traps; at any point the doors can slam shut because of a tiny misstep, or from forces outside the founders’ control. The company can become worthless overnight if a key product fails to demonstrate sufficient efficacy in a clinical trial, or if the company can’t raise further capital to continue. 10 years of sweat and toil can go to waste in an instant.
Scotland’s TC Biopharm (TCB) has secured a major investment from Japan with a deal centered on developing a novel gamma-delta CAR-T therapy to treat cancer, as well as a grant from Scottish Enterprise worth £2.7 million to fund preclinical activities.
Acerus Pharmaceuticals Corporation (TSX:ASP) (“Acerus” or the “Company”) today announced that it has entered into a license, development and supply agreement with Viramal Limited (“Viramal”), a London-based specialty pharmaceutical company developing therapeutics that improve the quality of women’s health, granting Acerus the exclusive rights to commercialize the Elegant™ franchise in Canada.
NCL Innovation, the UK’s leading early stage technology investor, has joined a second financing round for Kent based start-up Coomtech Ltd. The investment was made via the NCL’s Discovery Park Technology Investment Fund (DPTIF).