Take a look at #vctwitter and you might assume that startups are all about young teams of software engineers churning out innovative solutions every month, cold-calling Fortune 500 CEOs every week, and winning customers every day. It seems like a grueling but exciting pace, assuming you can find any time to sleep. Or eat. But this post is about a very different ecosystem: biotech. Sales cycles in the biopharmaceutical world are nothing like software sales; it could take years before you have any kind of asset worth selling or licensing. And there are multiple legal and regulatory requirements that a medical product must meet before it hits the market. You can’t just cut corners with hype and marketing—it’s notBut first, I want to share that we’ve been happy customers of docsend for over 6 months (read our case study ). Initially, we thought this would just be a way to minimize repetition in the investor due diligence process. But as you’ll see, we’ve now used
docsend for so much more.
While we’re on the topic of investors. I’ve noticed young founders getting nervous about .using a service that “forces” investors to enter. Their email before accessing content – a founder.might be told to “just send a pdf” and assume.they’re obligated to do so. But the moment you hit send. Your pdf is out in the ether and you .won’t have any visibility into it. Inste 2024 australia telegram users library ad trust that serious investors will appreciate.your time and should have no problem providing. Their email to review your materials. Don’t just take my word for it. The good folks at hustle fund have made. A similar point in their many excellent fundraising webinars.
What’s in our docsend data room?
Before we open the door use email marketing to our room, let’s define why a data room is a must for biotech companies well in advance of fundraising. It’s relatively easy to assemble a science team to develop a research concept without a business case, and it’s just as easy for mbas to write a business case without any science or medical expertise. Any investor cg leads knows that none of these categories are likely to succeed. To stand out from the noise, you’ll need to demonstrate your sophistication in the many categories associated with approved medical products. Another way to show sophistication is to present your materials in a simple and logical way. This is where the ease of organizing and tracking assets in our docsend data room has really saved time and created value. It has also added a level of polish: the introductory page has been branded with our logo, tagline, and banner image, very elegant.
Lactiga-docsend-data-room.png Six strategic sections of our data room
Here is a rough breakdown of our confidential data room, which will be familiar to life sciences and biotech companies:
Regulatory agency feedback. We engaged the US FDA in the summer of 2020 through the Coronavirus Treatment Acceleration Program to present our early plans for developing a specific treatment for COVID. We received helpful feedback that we have made available in the data room.
Need to work with regulators
Competitive moat (unique assets). As the first company ever to repurpose the global supply of unused breast milk for therapeutic use, we commissioned a memorandum of opinion from a high-level law firm to clarify that our milk reuse strategy would be acceptable from a regulatory perspective. We also faced the challenge
