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Cancer Project Needs Funding

    • 2 posts
    April 16, 2008 11:40 AM EDT
    Hello everyone,
    My husband is a medical researcher. He found and patented a drug for melanoma, we have patented rights in U.S, Europe, and Asia. We were able to self-funded the project to finished the mouse models. The IND is 90% completed. Now we are in need of funding to start the clinical trials ( 2-3 mil). 
     
    My husband is a researcher, not a business type and therefore it has been an uphill battle for the last 7 years!  I have to work full time and not able to help him with much sales pitch as I would like to. We are looking for angel investors, VC..
     
    Help!
    Christine0512
     
     
     
    • 2 posts
    April 16, 2008 2:46 PM EDT

    Hi Robertj,

    Thanks for your comment. Can you elaborate on putting a "team"? He was able to recruit doctors from the Mayor Clinic & UCSD Cancer Center (San Diego).  We have the facility that will be provided by the school or Scripps Hospital.  All we need is the $$ to get the trials going.

    I understand that once you have VC involves, you would have to give up most of your company and they may want to form their own management team.

    Christine

    • 39 posts
    April 17, 2008 12:32 PM EDT
    As someone who worked in biotech data management for a number of years, a great place to get exposure these days is to present his research.  Every major, and even minor conferences for melanoma will not only have other doctors that might be interested in participating, but they are always full of potential investors looking for their next miracle drug to invest in.  If your husband has published his work, it might be worth it for him to submit to be a presenter at these types of conferences. Just a thought

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    • 927 posts
    April 16, 2008 2:34 PM EDT

    Christine

    Congratulations on your progress so far.

    Drug trial funding is a pretty specialized area of the VC world.

    It`s great that you & your husband have made it this far - but it might be time to consider putting a "team" around this project.

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    • 927 posts
    April 16, 2008 2:57 PM EDT

    Christine,

    The "team" he has assembled sounds terrific. Since you mentioned in your first post that he is a researcher, not a business type I might look to add some business types to the "team" as well.

    As for VC forming their own management team - generally that`s not typical. Usually they won`t invest unless there is a sound management team in place. However, they may want a seat(s) on the Board of Directors, etc.

     

    ---
    Business Growth Masters, LLC -
    Capital Catalysts for Entrepreneurs
    Home of the Scalable Business Plan and QuikStart Capital Programs
    http://www.bizgrowthmasters.com
    info@bizgrowthmasters.com