Crowdfunding for Biotech Entrepreneurs

When the JOBS Act was signed into law by President Obama in April 2012, opportunities to invest in startup companies expanded beyond just the wealthiest Americans. How can a biotech entrepreneur tap into that newest source of equity investment? And – is your company likely to be a good fit for that form of fundraising?

According to crowdfunding company Poliwogg, $1.5 billion was raised via crowdfunding campaigns way back in 2011 – so where are we now, halfway through 2013? What are the opportunities for our region… and for your startup in particular?

If you’ve have had questions about whether Kickstarter or one of the many other more targeted crowdfunding sites might be a viable option for your equity fundraising, we’ve got an event for you.

Navigate the complexities, intricacies and implications of these platforms when CED and the North Carolina Biotechnology Center gather three experts on equity crowdfunding from the healthcare and agbio industries. You’ll hear from Les Funtleyder, Managing Director of Poliwogg, and Rob Leclerc, PhD, CEO at AgFunder, in a discussion moderated by NCBC’s Vice President, Business and Technology, Peter Ginsberg.

Join in from 5-8pm next Wednesday October 23^rd at NCBC, and learn about new federal rules on advertising and providing assurance that investors meet requirements for net worth. Come away knowing more about whether crowdfunding is the right way to fuel the growth of your company. 

bioMASON Selected as Finalist in the Postcode Lottery Green Challenge

bioMASON has been selected as a finalist in the Postcode Lottery Green Challenge with this year’s focus on the reduction of greenhouse gas emissions.  There are 5 finalists competing for 500,000 Euros who will pitch to an expert jury led by Richard Branson on Sept 16th in Amsterdam.

"We are very honored to be chosen from over 300 global applications for this opportunity", says Ginger Dosier, bioMASON CEO. "An estimated 1.23 trillion bricks are manufactured every year, resulting in approximately 800 million tons of carbon emissions, due to the fossil fuels required in the firing process.  We formed bioMASON because we believe there is a better solution for reducing Co2 emissions generated by global masonry manufacturing. bioMASON employs bacteria to "grow" a durable cement in ambient temperatures between loose grains of aggregate; producing building materials without emitting greenhouse gases, and without the depletion of non-renewable resources.”

The entrant with the best idea will win EUR 500,000 to execute his or her business plan within the next two years. Another EUR 200,000 is available to be divided among one or two of the other finalists.

The Postcode Lottery Green Challenge is a contest that rewards inventions that successfully combine sustainability, entrepreneurship and creativity. The jury looks for products and services that contribute to an eco-friendly lifestyle, directly reduce greenhouse gas emissions and score highly on convenience, quality and design.

The Postcode Lottery Green Challenge is designed to promote the invention of great new green products and services. "Climate change presents a pressing challenge. The world needs help embracing a new, greener lifestyle, and one bright idea can make a big difference. With ideas like these, the whole world wins," according to the Post Code Lottery Green Challenge site.

In addition, there is a popularity vote via Facebook:  http://bit.ly/grnchallenge2013

"We are so happy bioMASON has been selected for this recognition," indicates Andy Schwab, President of First Flight Venture Center, home to bioMASON.  "bioMASON looks to help solve real-world problems by growing bricks versus firing, significantly reducing the overall CO2 footprint - a global issue that needs to be solved."

bioMASON has developed a process that utilizes microorganisms to grow cement based materials for use in construction. Our products have comparable properties in strength, and can be used as a green alternative. Unlike traditional clay and concrete products which are fired in high heat; our process enables products to be made in ambient temperatures with minimal energy. Our products offer customers a clean, safe and cost effective process to manufacture biocement based materials.

http://www.bioMASON.com
Twitter: @bioMASON

It’s here! CED Innovators Report: Trends in Entrepreneurship

It’s CED’s mission to enable and promote high-growth, high-impact companies. To deliver on that mission, we’ve just released issue #1 of the CED Innovators Report - the first of our semi-annual reports illustrating the state of entrepreneurship in North Carolina. We encourage you to explore and see what amazing trends are emerging!

Here’s a hint on what you’ll find inside…
FIVE (5!!) IPOs in the first 6 months of 2013!

• Of the 13 IPOs in the southeast, we had five… pointing to NC as the leader. 
• 3/5 were in life sciences, one in tech and one in manufacturing
• Two more companies filed with the SEC between January and June to go public, leading us to think our next report will be just as interesting…

INVESTORS came from all over the country
… and there were 49 angels, VCs and grant-issuing institutions.


There are many more insights included herein… so be sure to check it out (and share it, via LinkedIn, Twitter @CEDNC– etc.)

There are a variety of indicators to consider when analyzing our State’s entrepreneurial community, so we have identified three major areas on which to focus:

1. Funding: this includes angel investment, venture capital investment and grants
2. Partnerships: major sales agreements and partnerships
3. Exits: IPOs, mergers and acquisitions
    

In our effort to monitor activity within these areas we have tapped into a variety of resources including partners, government data, news releases, and the entrepreneurs themselves. Of course – what we really want is your input! Please let us know if we’re covering what you think is important, and certainly tell us if you have data to share.

And if you like the way this looks – we have Smashing Boxes to thank for that! They’ve donated their time and creativity to this effort, and we are grateful for their help in telling this wonderful story.

BioKier Closes on Funding from Broadview Ventures, American Heart Association’s Science & Technology Accelerator

Chapel Hill, NC, July 24, 2013 -- BioKier, a privately held development-stage pharmaceutical company focused on the treatment of diabetes, announced today that it has closed on a funding commitment of $1.7 million from Broadview Ventures and the American Heart Association’s Science & Technology Accelerator Program. This is the first institutional venture capital investment for BioKier, which has previously received seed funding from individuals and a Small Business Research Loan from the North Carolina Biotechnology Center.

BioKier is developing a proprietary oral treatment for diabetes based on understanding the
mechanism of the anti-diabetic effects of bariatric (gastric bypass) surgery. Gastric bypass
surgery, independently of its weight loss effect, substantially improves or even resolves diabetes within days in 80 to 90 percent of obese Type 2 diabetes patients. This surgery is equally effective in non-obese diabetes patients. Diabetes affects millions of people worldwide and costs billions of dollars. Currently available therapies, while effective in delaying progression of diabetes, are far from ideal and there is an unmet need for new and especially safer drugs.

“Funds provided by Broadview and the American Heart Association will allow us to conduct two preliminary clinical trials and initiate very important work on formulation development,” said George Szewczyk, PhD, BioKier’s CEO and scientific founder. “It was gratifying to BioKier that two investors with demonstrated expertise in the cardiovascular disease area and a national investment perspective recognized the potential that BioKier’s approach may offer patients afflicted with diabetes, particularly as it relates to the cardiovascular risk associated with diabetes.”

“Broadview Ventures’ mission is to accelerate the development of promising technology to effect meaningful change for patients. We are very pleased to add BioKier – our first diabetes investment – to our expanding cardiovascular portfolio,” stated David Tancredi, MD, PhD, Scientific Director of the Fondation Leducq, and representative of the Leducq Family Trust at Broadview Ventures. “We are especially pleased that this promising science is being surrounded by well-developed syndicate support from the American Heart Association and NCBiotech giving it the potential to improve the lives of millions of patients with diabetes.”

“Diabetes has long been recognized and accepted as a major contributor to the development of cardiovascular disease. Heart disease and stroke are the major causes of death and disability among people with Type 2 diabetes,” said Ross M. Tonkens, MD, Director of the American Heart Association Science & Technology Accelerator Program.

About BioKier
It was initially observed and is now accepted that bariatric (gastric bypass) surgery improves or resolves diabetes within days in 80 to 90 percent of Type 2 diabetes patients. There is strong evidence that the mechanism of this effect is expedited delivery to the lower gut of certain nutrients which are natural secretagogues for glucoregulatory gut hormones. BioKier has devised a proprietary method to potentially mimic the effects of surgery and to improve or resolve diabetes, but without the physical trauma and cost of bariatric surgery. And it is expected to be suitable for both obese or non-obese diabetes patients. The treatment acts by stimulating the L-cells in the lower gut with an orally delivered therapeutic and thus correcting the deficiency in secretion of endogenous GLP-1 and other gut hormones, such as PYY, GLP-2, and oxyntomodulin. This treatment will potentially also have beneficial effects in metabolic syndrome, cardiovascular disease, and obesity. www.biokier.com

About Broadview Ventures
In 2008 the Leducq Family Trust established Broadview Ventures, Inc. (Broadview).
Broadview’s mission is to accelerate the development of promising technology in cardiovascular and neurovascular disease through targeted investments in and support of early stage ventures. By making funding available at a critical moment in the development of new technology, the Leducq Family Trust joins other leaders in venture philanthropy in seeking creative ways to support translational research in order to bring the advancements of science to the care of patients. www.broadviewventures.org

About the American Heart Association Science & Technology Accelerator ProgramThe Science & Technology Accelerator Program is charged with identifying the most potentially game-changing innovations capable of helping achieve the American Heart Association’s 2020 Impact Goals of decreasing death from heart attack and stroke by 20 percent by the year 2020, and propelling them rapidly from bench to bedside where they can dramatically impact outcomes. The American Heart Association is the nation’s oldest, largest voluntary organization devoted to fighting cardiovascular diseases and stroke. www.heart.org

About North Carolina Biotechnology CenterThe North Carolina Biotechnology Center is a private, non-profit corporation supported by the N.C. General Assembly. Its mission is to provide long-term economic and societal benefits to North Carolina by supporting biotechnology research, business, education and strategic policy statewide. www.ncbiotech.org

Contact: Roger Nolan, PhD, President
BioKier -- 919-270-2361
roger.nolan@biokier.com

Save the Date: CED Life Science Conference 2014, February 26 – 27, Raleigh Convention Center

Innovation, Convergence and Collaboration: Healthcare Environment in 2020 is the theme for the 23^rd Annual CED Life Science Conference.  The conference co-chairs for 2014 are Ken Moch, PhD, President and CEO, Chimerix, Inc.; Anne Whitaker, President, North America, Pharmaceuticals, Sanofi; and William L. Roper, MD, Dean of the School of Medicine, Vice Chancellor for Medical Affairs & CEO of the UNC Health Care System at UNC-Chapel Hill.  The leadership and valuable insight they bring will make for lively and pertinent topics and connection to world-renowned speakers.    

Join us at the Raleigh Convention Center on February 26 and 27, 2014. The annual conference has become the premier event for North Carolina’s vibrant community of healthcare industry sectors, and includes presenting sponsors The North Carolina Biotechnology Center and North Carolina Biosciences (NCBIO).

The CED Life Science Conference attracts more than 1,000 life science entrepreneurs, investors and industry professionals.  In addition, the program includes a showcase of up-and-coming companies, current issues facing Pharma and Biotech and excellent opportunities for high-level networking.

More announcements coming soon… block out the dates on your calendar today.

MPI Research Announces New Division

Released Thursday, May 16 from CED Member MPI Research

MPI Research, the largest single-site preclinical contract research organization (CRO) worldwide, has created a new division, Surgical Services and Medical Device Evaluation (SMD), which will be led by Senior Director Mark Johnson, MS. As a Senior Study Director with more than 15 years of GLP and non-GLP experience specifically in this field, Mr. Johnson leads a robust team of knowledgeable and highly skilled surgeons and Study Directors that have extensive experience in medical device evaluation and surgical model development.

Under Mr. Johnson’s leadership, this collaborative team is proficient in conducting studies with a wide range of species and, using a variety of surgical models. Specific therapeutic areas of expertise include, but are not limited to, cardiology, orthopaedics, neurology and general surgery. This new division is divided into three core areas: targeted delivery of therapeutics, medical device evaluation, and surgically induced disease models. In addition, the division provides surgical support services to all of MPI Research. The SMD team is known for its innovation and high quality service. Given their collective knowledge in medical device evaluation, toxicology, pharmacology, and disease modeling, the scientific staff works collaboratively with Sponsors to design the best and most efficient development program.

The state-of-the-art surgical facilities at MPI Research consist of three large animal and one small animal suites. Using standard and customized protocols for surgical disease models and implanted delivery systems that meet or exceed regulatory standards, the SMD team typically performs more than 5,000 surgical procedures annually.

According to MPI Research Chairman, President, and CEO, William U. Parfet, MBA, “Our new division has been driven by Sponsor demand. Medical device, pharmaceutical, and biotech companies know that by placing their studies with us, they will get the best possible surgery and medical device evaluation in the preclinical space. They appreciate that not only have we dedicated an entire division to meet their needs, but we can also address their other preclinical and early clinical research requirements all within the same facility. This brings continuity and cost-effectiveness to their drug and device programs, while minimizing the risk of inconsistency and error since they can get all their research needs met by a single CRO. I am incredibly proud of the equipment, technology, and, most importantly, the expertise represented by our SMD division.”

Mr. Johnson is an expert webinar panelist in the upcoming Fierce Markets event, “How to Raise Medical Device Startup Funding in a Harsh Investment Climate.” He will discuss funding alternatives relative to medical device and diagnostics startups during this educational worldwide webinar, on May 23, 2013. Be sure to take advantage of this opportunity to hear Mr. Johnson, as well as other medical device and diagnostics experts, speak on this timely and relevant topic.

Full Article Here

Find Yourself on TriangulateNC.com

CED today released its long-anticipated TriangulateNC.com, an interactive site that represents the entrepreneurial activity in the Research Triangle. It’s focused initially on technology and life science companies, with expansion opportunities for industries such as advanced materials sciences and the ‘makers’ movement – some of the most active growth areas for our region.

Site for Entrepreneurs – and those who support them

We’re hoping that you will help us continue to expand on this map. We’re looking for companies with headquarters (or major operations) in Wake, Durham or Orange Counties, companies that were founded in this region, and are privately held (or have done an IPO or become a wholly owned subsidiary of a larger company but retained brand identity). We’d like to you sign on, expand the information we have on your company (or add it!), and continue to provide the site with milestone information.

Central Events Calendar

We also built this tool, with great help from our friends at Relevance, to be the central go-to calendar for community events that would be of interest to entrepreneurs. Many of our community partners have already added their upcoming happenings – we invite you to add yours as well, and to come back often to see ‘what’s up’ in the region.  

It’s Yours.

This site belongs to entrepreneurs in the Triangle. You are encouraged to input and refresh your company information regularly, to keep the region – and ultimately the world – up-to-date on what your company is doing. Thus far, CED has created the database and architecture for the map, calendar and news flow. CED will continue to curate the information and manage the site to assure high quality standards, supported by our 75+ community partners who share an interest in a vibrant entrepreneurial community.

Help Make it Easy to Understand Entrepreneurship in the Triangle

The Research Triangle is among the country’s top entrepreneurial centers. Yet, getting the information that helps to tell that story has not been easy. TriangulateNC.com is designed to be a central information hub -- the single stop for information on what’s happening entrepreneurially in the Research Triangle area. Help us help the world find out how great this area is. We’ve started the process, but to make it great requires YOU.

Give us feedback (there’s an orange tab on the right side of the homepage) or contact Hal Thomas for comment.