Seed and Angel Financing for Life Science Companies: ENET Meeting, Nov. 15, 2016

A week from tonight, on Tuesday, November 15, 2016 at 6pm, the Boston Entrepreneurs’ Network (ENET), will hold a meeting with speakers on this subject,  at WorkBar Cambridge,  45 Prospect St., in Central Square, Cambridge.

 

This is a new location for ENET, which we arranged after we learned that the Microsoft Technology Center, where we had been meeting, was to be closed after September.  For those using the “T”, this is quite close to Central Square on the Red line – one stop beyond Kendall.  For those driving into Cambridge in need of parking, I have two suggestions, 1st there are two municipal lots close by Central Square, Bishop Allen Drive between Essex and Norfolk Streets – Lots 4 and 5, Central Square, Bishop Allen Drive between Douglass and Columbia Streets – Lot 6 (both lots are $1 per hour 8:00am – 6:00pm – 4-hour maximum; $2 per hour 6:00pm – 10pm – 4-hour maximum)

https://www.cambridgema.gov/traffic/Parking/cityparkingfacilities/cityparkinglots

There is also a Pilgrim Parking garage at 438 Green Street, near Central Square with a $9.00 flat evening rate after 5pm until 7am. http://www.pilgrimparking.com/boston-parking-garages/central-square-parking-lot.htm

 

Raising early stage capital is a significant challenge for life sciences companies. The added hurdles are due to the complex science involved and to the rigorous proof of efficacy needed for government approval. To discover methods of raising capital from friends, family and angel sources join us on November 15th. We will hear from panelists who have successfully raised early stage funds as well as from those who have funded such investments. In addition, we will explore the legal and accounting frameworks which are used to facilitate the required investment pooling in a legally efficient fashion.

 

In addition to our speakers, you will network with other life sciences focused entrepreneurs. You will participate in the life sciences entrepreneurial ecosphere which is transforming the Boston business scene.

Agenda:

  • 600 -700 PM Registration & networking
  • 700 -710 PM ENET Chairman’s announcements
  • 710 -725 PM E Minute – Up to 3 Startup companies’ presentations
  • 725 -815 PM – 3 or 4 expert speakers on the night’s topic
  • 815 -830 PM – Audience / Speakers Q & A
  • 830 -900 PM – Final networking including meeting speakers

SPEAKERS:

Teresa Nelson, Ph.D., Founding Principal at The Impact Seat

theresa_nelsonAs a researcher and professor at Simmons College in Boston, Nelson focuses on innovation, entrepreneurship and access to social and financial capital. She has a long-standing engagement with international business issues, including especially China and the European Union, including her role as a professor in the PhD program at the University of Liege, in Belgium. She serves as an appointed member of the National Women’s Business Council, an advisory panel to the White House, Congress and the SBA on issues of women and business. In this role, she is heavily involved in research and policy on the federal government’s Small Business Innovation Research grants program that funnels 2-3 billion dollars per year to small U.S. businesses to develop and commercialize cutting-edge technology through federal agencies including the Department of Defense, Health and Human Services and the National Science Foundation. Dr. Nelson also serves on the Scientific Advisory Board for Women Equity Growth, a project of Bryan-Garnier, Europe’s leading private equity firm for entrepreneurship, among other appointments.

Martin Omansky, Ph.D., Angel Investor

Dr. Omansky is an angel investor who performs investment due diligence for several angel investment groups. He has worked on, organized financing for, and invested in several life science deals. Previously, he was the Managing Partner of Crucible Advisors, a firm that (1) helped entrepreneurs plan, finance, and manage their enterprises; and (2) managed a technology-oriented venture fund.  He has more than 25 years-experience, and has sat on all sides of the negotiating table.  Since closing his fund, he has been active as a consultant, teacher, business plan judge, and venture forum panelist. He has been an inventor, entrepreneur, investment banker, and fund manager and has represented a wide variety of clients in the private sector, in the non-profit world, and among government agencies.  His interests include science fiction, spy thrillers, baroque and jazz music, and the Boston Red Sox. He holds a Ph.D. from the University of Southern California and a Bachelors degree from Clark University.

Eric J. Evans, Mass Medical Angels &  Launchpad Ventures

eric_evansEric J. Evans is an active member of the early-stage investor community in Boston.   He sits on the Executive Committee of Mass Medical Angels and on the Screening Committee of Launchpad Ventures.  Since many early-stage deals are now syndicated, he also maintains relationships with Hub Investment Group, Boston Harbor Angels and Cherrystone, among others.  He has served as CEO for several biomedical companies, including Targeted Cell Therapies, Abazyme, Lumos Catheter Systems, Mulleris Therapeutics and Follica Biosciences.    He began his career at Procter & Gamble and at the Boston Consulting Group.  Mr. Evans holds a master’s degree in finance and public policy from the Wharton School at the University of Pennsylvania, and a bachelor’s degree in nuclear physics from Brown University.

 

MODERATOR: 
Dr. Nathalie Goletiani, MD, Founder & CEO, POWERFEM Therapeutics

nathalie_goletianiDr. Goletiani is the Founder and Chief Executive Officer of POWERFEM Therapeutics, a company devoted to novel, networked treatment methods for the care of those suffering from substance abuse and mental illness. Her extensive clinical research into the hormonal effects of nicotine, opioid and cocaine use lead her to new concepts and mechanisms in understanding and treating psychiatric disorders, in particular, disorders experienced by underserved female populations. At Harvard’s McLean Hospital, she was charged with rebuilding and responsible for all the operations of Clinical Research Program, including simultaneously running multiple clinical trials. Based on her patented work, she founded POWERFEM Therapeutics, an independent company devoted to creating new treatments and healthcare solutions. POWERFEM incorporates novel disease concepts and treatments to design cost-effective, integrated mental and substance abuse care solutions across multiple provider networks.    Dr. Goletiani has received numerous national and international awards including most recently the Harvard Livingston Award for the investigation of complex underlying mechanisms in the neurobiology of women. She also received a Harvard University Zinberg Fellowship specifically to support her research on alcohol and drug use disorders. Her research provides a valuable basis for psychotherapeutic public policy decision making on issues of substance abuse and the integrated treatment of mental illness. She has extensively published the results of her research in peer reviewed journals.  Dr. Goletiani  completed basic and clinic fellowships at the Harvard School of Public Health and at Harvard Medical School. In addition, she has been trained at and conducted medical research at Tbilisi State Medical University, University of Amsterdam and King’s College in London.

For more information or to register for the November 15 ENET meeting in Boston, go to LINK:  http://www.boston-enet.org/event-2314281

or   www.boston-enet.org

 

Hopefully, this meeting on financing will be helpful to entrepreneurs in small and early stage companies I represent.  Hope to see you at WorkBar Cambridge a week from tonight on November15!

For additional ENET information on

Seed & Angel Funding for Startups…

 

I helped the moderator with this meeting.   I also organized and moderated another ENET panel on Seed and Angel Financing (for Startup companies) that was held in Waltham October 2, 2012.

 

If you would like more information on that October 2012 Seed and Angel Finance panel, I moderated go to  http://boston-enet.org/event-545603    At that link you can view slides from all three of our angel and seed investor speakers that included James Geshwiler, Managing Director of Common Angels.

 

The slides of our October 2012 panel tell how investors approach the problem of making a good investment?  The slides also go behind the scenes of the decision making to discover the process our three panelist-investors use to choose and to invest in emerging and seed stage companies.

 

Hopefully, these presentations on Seed and Angel Financing  will be helpful to entrepreneurs in small and early stage companies I represent.

 

My Continuing role as ENET Chairman

and frequent speaker & moderator…

 

I remain active in ENET, a Waltham and Boston/Cambridge based non-profit group, affiliated with IEEE, that aids tech and life science founders, entrepreneurs, small and early stage companies, and people who invest or work in those companies.  www.boston-enet.org

 

A member of the ENET Board since 2002, I have served as Chairman of this non-profit group since 2009.  In May 2015, I was elected to my fourth 2-year term as ENET Chair.  During the period of my leadership, ENET’s annual program has grown from 10 meetings per year to 19 for 2015-16 year just completed:  10 meetings in Waltham, and 9 in Kendall Square Cambridge, plus our annual cruise of Boston Harbor to end the program year.  Each meeting has three or more speakers on a subject of interest to entrepreneurs and company founders, in life science, tech and other areas of New England’s innovation economy.  Each meeting also has ample networking time before and after the presentations to allow entrepreneurs to meet each other and later meet with the speakers

 

On January 30, 2016, at a ceremony at the national meeting of IEEE-USA in Las Vegas, NV, the President of that organization Peter Eckstein (pictured below) presented me with the IEEE-USA professional achievement award for “extreme dedication and contributions to the IEEE entrepreneurial community”.  For more information on that award, see LINK:  http://www.boston-enet.org/IEEE-USA-Professional-Achievement-Award

 

image002

 

This past summer, on July 14, 2016, I arranged, as cruise director, the final event of the 2015-16 ENET program year, our annual Sunset Networking Cruise of Boston Harbor.  In this cruise, that we called the EntrepreneurSHIP 2016, ENET was joined by our partners MDG – Medical Development Group, WIE – IEEE Women in Engineering, The EntreTech Forum, and the Massachusetts Bio Pharma Networking Group (MABPNG).  This was the 14th annual cruise I’ve arranged for ENET, and it drew our largest attendance yet, 219, on a lovely July night – great sunset over the outer Harbor Islands.  The cruise sold out the day before we set off from Rowes Wharf.

sunset

 

Besides my work as ENET Chair, and annual cruise director, I organized and moderated ENET’s kick-off meeting of the current 2016-2017 program year and five (5) meetings in the 2015-16 program year, just completed.

 

Two months ago, on September 6, 2016, I was meeting organizer and moderator for the kick-off meeting to ENET’s 26th year. For that meeting in Waltham, our subject was What builds the most value in a tech or medtech startup Company?  It was a great evening for ENET where our founders of startup companies heard first about defining the value proposition of your company’s product or service.

  • Do you fix a problem that has real and measurable consequences to inaction?
  • Is this problem a top priority to your target customer?
  • Is the market significant?
  • Is the market underserved?

 

Then, our audience heard about key means of building value in your company after that value proposition is established to attract angel investment in tech and life science companies.  Then, finally about building value for an exit / liquidity event.

 

marguritepiretpicture2picture3

 

Our speakers on September 6, 2016  (pictured above),  were

  • Marguerite A. Piret,  President & CEO, Newbury Piret & Company, Inc., http://www.newburypiret.com/ a Boston M&A firm, with Marguerite twice nominated for “Woman Deal Maker of the Year” for her work building value in companies to successful exits,
  • Jordan Leef, Healthcare VC and  Director, The BioBreak Organization http://www.biobreak.org/ a life sciences investor and director of an organization that brings together executives across med tech and life science fields, and
  • Walter M. (Jerry) Bird, President,  MassVentures, http://www.mass-ventures.com/ the President of one of the most successful VC/angel firms that invests exclusively in Massachusetts startup compani.

For links to the meeting write up I prepared and the speaker slides from that meeting, LINK:

http://www.boston-enet.org/event-2289358

 

In the prior program year, Sept 2015 ro July 2016, I organized and moderated five of 19 ENET’s meetings, that included moderating and speaking at these meetings -.

 

 

On May 17, 2016, I was organizer, moderator and a speaker  on ” Impact Entrepreneurship and Your Triple Bottom Line”,   with Cheryl Kiser, Mark Donohue and Rebecca Hamilton, an all star panel on this subject, where I concluded the proceedings speaking about certified B corps and Chapter 156E the newly enacted benefit corporation law in Massachusetts.  to see my slides and others, go to

http://www.boston-enet.org/event-2017624

 

 

On April 5, 2016, I was meeting organizer and moderator for the ENET meeting on “Strategic Alliances for M&A and Successful Exits”.  We had three great speakers including Charles Lax on Grand Banks Capital and Richard Kimball of Bigelow & Associates.  To see my write up on the meeting and slides from each of our four speakers,  go to http://www.boston-enet.org/event-2017600

 

On January 5, 2016, I was meeting organizer and moderator for the ENET meeting on Product Development in Life Science & Tech Startups.”   We had four wonderful and quite complimentary speakers, a full house in Waltham, with 112 in attendance,  and great audience questions.  We began with the big picture of product development across life science fields and then focused on a single company’s successful development, launching and sales of a customer-driven medical device / consumer product.  Then moving to tech, our third speaker focused on key design issues and our 4th speaker closed on scaling and production issues.  To see my write up on the meeting and slides from each of our four speakers,  go to http://www.boston-enet.org/event-2017595

 

On October 6, 2015, I was meeting organizer and moderator for the ENET meeting on “Innovative Ways to Bootstrap Your Startup Company.”   We had three great speakers, a full house in Waltham and great audience questions.  To see my write up on the meeting and slides from each of our three ENET speakers, go to http://boston-enet.org/event-2017582

 

joanneOne of the highlights of the October 6 ENET meeting was the presentation of  Joanne Lang, Founder and CEO of AboutOne, www.aboutone.com.  Joanne is  based in Philadelphia and flew in special, at her own cost, to give her presentation for ENET.  Joanne’s slides, “”Bring Your Product to Market Bootstrapped Style… and Keep it there” –  were also excellent, a great and continuing resource for founders and entrepreneurs to use and reference, LINK  http://boston-enet.org/resources/Documents/Presentation_Lang.pdf

 

Additionally,  in prior years, I’ve moderated and/or spoken at a number of ENET panel presentations, including presentations on the following subjects:

 

  • “Building and Using Board of Directors and Boards of Advisors , April 2015 (moderator),
  • “Founder Agreements and Stock Vesting – Building a Team, Protecting yourself, Managing expectations ”. February 2015  (moderator & speaker)
  • “Entrepreneur Success Stories ” , September 2014 (moderator),
  • “Raising Money from CrowdFunding , May 2014 (moderator),
  • “Ready, Set, Launch. Knowing when you’re ready & How to start a company” , September 2013 (moderator),
  • Bootstrapping 101: Alternative Ways to fund a Startup without an Angel or VC, November  2012 (moderator)
  • Seed and Angel Financing , October 2012 (moderator),
  • Getting Stuff for Free, April 2012 (moderator),
  • Transforming Your Idea into a Successful Company, September  2011 (speaker and moderator),
  • Get Going! Launching a Successful Business, September 2010 (moderator),
  • Licensing Technology,  February 2010 (moderator),
  • How to Select and  Retain Management for your Startup Company, February 8, 2008 (speaker and moderator)
  • Getting Initial Money to go from Nothing to Something, October 2007 (speaker and moderator)
  • Strategic Alliances and Partnerships: to build, finance, and develop early stage companies, November  2006 (speaker and moderator)
  • Building Boards of Advisors and Boards of Directors, March 2006 (moderator)
  • Protecting Your Intellectual Property, January 2006 (speaker)
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