B Y R O B L I T T L E F I E L D

BIOTECH

CROWDFUNDING

WHY CROWDFUNDING?

• Longstanding tradition in US of generous support for research at places like the Dana-Farber Cancer Institute or UC San Francisco• Many of those donors want to take the next step by investing in companies

building on that research to develop treatments

• While most biotech companies are for-profit, creating therapies for diseases and then bringing them to the market may appeal to the crowd• In particular: patients, friends and family, medical practitioners and researchers

for whom finding a cure for unmet diseases is an urgent and highly emotional matter and may be more important than realizing a return on investment

• People are often willing to donate money to a not-for-profit charity dedicated to medical or bioscience research. • Crowdfunding appeals to this population as it might allow them to directly impact

on medical innovation in a fully transparent manner i.e. it will be clear to them where their money is going and for what purpose

2

HOW TO ATTRACT INTEREST

• Studies show most important factors for investors are 1. Perceived market potential

2. Prior experience of the entrepreneur

3. Being personally moved by the idea of the business

• Crowdfunding is a form of ‘activism’ & a way to make an impact by supporting US businesses that reflects the investor’s own values

• Many feel it is important people beyond the very wealthy have an opportunity to fund small businesses

• Driven by ‘potential to do good deeds’ rather than to realize a ROI

3

CURRENT CROWDFUNDING MARKET

• Jumpstart Our Business Startups (JOBS) Act in Fall of

2013 SEC released new regulations on crowdfunding• Early-stage firms struggle to attract investors

• Terribly hard - more difficult than it ever has been

• Consulting firms help esoteric and complex work of biotech firms

• >250 "biotech" startups seeking capital on AngelList• Mostly genomics, DIY, diagnostic, or life science service

• Several therapeutic startups, for example, Rodin

4

DRAWBACKS

• Time for innovation is lengthy

• High failure rate is unattractive

• Unsophisticated public may not understand

biotechnology/scientific propositions

• High-level of due diligence for individual investors

• Proprietary information rights & IP issues

• May prove unattractive to business angels

• Administrative burden of paperwork, registration,

regulation, tax

• No warranties for further funding round/no exit

5

TYPES OF FUNDING

Equity I• Allows for accredited investors to view private investment opportunities on a

password-protected website

• Suit entrepreneurs who want to avoid public exposure of their fundraising campaigns

Equity II• Can raise an unlimited amount of capital from an unlimited number of accredited

investors

• All done through equity crowdfunding portals which make it simple to advertise their offerings across the web

• Most popular type of equity crowdfunding, it exposes entrepreneurs to a huge audience of potential investors (6-8 million accredited investors in US)

Equity III• Allows unaccredited investors to participate (the 99%)

• With platforms to offer and sell securities online, entrepreneurs will enjoy the ability to potentially reach out to over 50 million Americans

• More regulatory requirements to manage

6

ANGEL FUNDING MARKET

• Angel investing of $20bn per year across all sectors

• 21% start-ups in Healthcare services/Medtech

• 8% in Biotech (1500/yr)

• Fewer than 100 biotech startups are backed by angels with

more than $500K in any given year

• Angel investing driven locally or through networks around

successful pharma executives

7

TOP BIOTECH CROWDFUNDING SITES

1. Poliwogg

2. Healthcare Hatch / Indiegogo

3. WiSeed

4. Medstartr

5. DoDo Funding

6. CrowdCube

7. Seedr

8. Consano

9. Oncology Crowd AU

8

POLIWOGG

• Healthcare specific, NY-based, well-connected

• Not individuals, focuses on equity investors

• <20 life science companies listed for crowdfunding, many more in review ($1-$4million min)

• SEC limit on non-accredited investors of just $1million per year (will eventually lift)

• Realize more value quickly with small donations – this will help a startup appeal to serious investors

• Equity-based crowdfunding has volumes of paperwork, very complex, prohibitively burdensome

• All-or-Nothing funding of $2m - $10m

9www.poliwogg.com

INDIEGOGO

• International crowdfunding site where anyone can raise

money for film, music, art, charity, small businesses,

gaming, theater, and more

• Biotech Example: J147: Therapeutics for ALS

• Funding histopathology (microscopic tissue examination) lab work to

better analyze the results for study ongoing at Salk Institute

• Originally seeking $30K (see: J147 Crowd Funding Site)

10

www.indiegogo.com

WISEED

• European (Fr) equity-based crowdfunding website

• WiSEED community = 20,000 potential investors

• Vote on 10 projects/month, audit, choose 3, can raise $50,000 to $685,000 against equity stake of 5-20% of company (min invest of $100)

• All individual investments combined into a single holding company, dedicated exclusively to this investment, in which investors hold a stake. Platform monitors and maintain communication

• Initial review, e-voting, due diligence (audit), valuation (not a financial study but intended to give a value to the project, based on the assumptions of revenues and expenses in relation to expectations from market society)

• WiSEED has helped 27 companies raise $6+ million in equity funding

11www.wiseed.com

ROCKETHUB

• Keep all funds raised (not “all-or-nothing”)

• Reach goal: 4% commission fee + 4% credit card handling

fee

• Don’t reach goal: 8% commission fee + 4% credit card

handling fee

• Focus on art, science, business and social good projects

12http://www.rockethub.com/about

MEDSTARTR/MEDFUNDR

• Patient, doctors, companies funding healthcare innovation

• Most small funds $10k-$20k, nothing in biotech

• Mostly hardware/software, consumer, product/device

• Focus on small projects for small medical problems

13www.medstartr.com

DODO FUNDING

• "Crowdfunding platform for biotech projects”

• Goal sum, 90 days, 5% commission to DoDo, uses PayPal

• “If selected by committee, get public exposure, marketing and communication help…”

• Rewards: • Acknowledgements in scientific papers

• Personal updates

• Insight into how research is going

• Finalize products

• Equity in the company

• All-or-Nothing platform

• Bioengineering, bioinformatics, DNA barcoding, education, genomics, metagenomics, nanobiotechnology, proteomics, synthetic biology, transcriptomics

14www.dodofunding.com

CROWDCUBE

• Founded in 2010, London-based CrowdCube is the next

generation of business investment.

• It is a new way to fund start-ups and business expansion by

crowdfunding for equity, giving entrepreneurs a platform to connect

with people and raise venture capital.

• Mostly professional services, internet businesses,

consumer

15www.crowdcube.com

SEEDRS

• Equity capital platform, very friends and family

• “For an investment of $150,000, between 20% and 40% of

your company's equity is what investors are likely to

expect.

• The average equity offered by startups on Seedrs is in the

10% to 50% range”

• $10,000 - $300,000 with 1-40% equity

16

www.seedrs.com

CONSANO

• Consano brings crowd-funding to the world of medical

research

• Donation based, focus on healing

• $25,000 - $1,500,000, 2 months time frame

• Receive money whether or not goal reached

• Only 15 projects listed on website

17

www.consano.org

BLAZEFUND

• Equity crowdfunding in business services, technology,

consumer, energy, software, internet, healthcare & life

sciences • Equity shares

• Convertible debt

• Partnership options

• No real healthcare projects ongoing, did help Perle

• Many closed

18www.blazefund.com

INVESTING ZONE

• Equity-based platform; 10-90% of company

• Projects ranging from $200,000 to $800,000

• Not healthcare specific in any way, no biotech

• “Adopted the principles of crowdfunding to connect

businesses with its network of angel investors”

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www.investingzone.com

ONCOLOGYCROWD AU

• “There are few crowdfunding sites dedicated to scientific

research and even less to oncology which is surprising

considering the number of consumers that are passionate

about improving patient outcomes”

• Recently launched

• Oncology “Hive” networking platform coming soon

20

www.oncologycrowd.com.au

OTHER WEBSITES

1. Health Tech Hatch (hardware, $10K avg)

2. CircleUp (mostly consumer/retail)

3. iCrowd (rather basic platform)

4. RocketHub (mostly consumer/retail)

5. Petridish.org (DIY, science, nature)

6. Flintwave (Dutch crowdfunding, science focus)

7. IAmScientist (science and tech)

8. Longecity ($4K - $16K research funding)

9. Dragon Innovation (hardware products)

10. CrowdCure (life science projects)

11. OpenGenius (research projects)

12. PledgeIt (UK charity for leukemia and lymphoma)

13. TechMoola (crowdfunding for inventions, tech)

14. Experiment.com (was Microryza, science <$10K, lmtd)

15. Xconomy (news and analytics site)

16. Syndicate Room (equity crowdfunding)

17. Crowdnetic (tech/mrkt data for crowdfunding)

21

EXAMPLES OF BIOTECH FUNDING

• WiSEED

• IndieGoGo

• CrowdCube

22

WiSEED

www.antabio.com

23

• Developers of innovative drugs against cancer

• Fundraising closed $1.1m on WiSEED

24

www.urodelia.com

• Cell Guidance Systems make research tools to aid stem

cell scientists

• Stem cells are being developed to provide treatments for

diseases increasing stroke, coronary disease, diabetes

and Parkinson's.

• CrowdCube, funded. $400,000 with 138 investors, 290%

target, 14.55% equity offered

25

www.cellgs.com

• French biotech developing first-in-class candidate-drugs

• Support neural repair in order to treat traumatic or severe

degenerative disorders of the CNS and to contribute to the

restoration of neurological function, and thus to improve the quality

of life of patients.

• In 2012, Neuronax used WiSEED to facilitate series ‘A’

financing of clinical trials in spinal cord injury.

• $1,234,000 in first funding, min of $100 per invest

26www.neuronax.com

• Development of novel antimicrobial products

• Emerging crisis of antibiotic resistance for microbial pathogens in

the US & throughout the world

• Was seeking $2 - $3m in equity investment for XF-73 as of

late-2013 on CrowdCure

27www.destinypharma.com

• Ambiotis is the first Contract Research Organization (CRO)

working on the active resolution of the inflammatory

process and making the proof of concept of innovative

compounds.

• WiSEED platform fund raising closed with $137,000

28www.ambiotis.com

• Proprietary peptide therapy to generate new insulin

producing cells; reversing Type 1 & 2 diabetes

• BlazeFund to raise target $2m

29www.perlebioscience.com

• Develops anti-cancer drugs

• Raised funds on WiSEED, sought $140,000

30

www.selexel.com

VENTURE HEALTH

• Investment portal for accredited investors

• 3 funded companies featured here

• Rani Therapeutics

• NFocus Neuromedical

• Channel Medsystems

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www.venturehealth.com

Founded by Mir Imran, Rani Therapeutics is developing a

technology that would make biotherapeutics orally available

- removing the need for subcutaneous or intramuscular

injections. The company has successfully delivered a well-

known, commercially available antibody in a pre-clinical

model.

• Most Recent Financing: Raised its Series B in August of

2013, led by Google Ventures

• Venture Health: raised $2.6M

www.ranitherapeutics.com32

• Founded by Mir Imran and Martin Dieck, Nfocus is

developing breakthrough solutions for neurovascular

disease, starting with brain aneurysms. Now completing

initial human trials in Europe, the company’s LUNA device

is demonstrating dramatic improvements in outcomes for

aneurysm patients.

• Exit: Acquired by Covidien on February 19, 2013 See

article here...

• Most Recent Financing: VentureHealth group: invested

$1.49Mwww.nfocusneuro.com

33

• Founded by Dan Burnett, MD, Channel Medsystems is

creating the first truly office-based Global Endometrial Ablation

(GEA) technology, based on innovations in cryo-therapy. GEAs

are used to treat excessive menstrual bleeding as an

alternative to more invasive surgical procedures. Channel’s

device is designed to quickly and safely deliver therapy in a

single use, self-contained, hand-held device that is well

tolerated by the patient.

• Most Recent Financing: Raised $9.7M in April 2013, led by

Boston Scientific and Venture Health

• Venture Health: invested $875,000

www.channelmedsystems.com34

RODIN THERAPEUTICS

• Novel treatment for Alzheimer's disease; drug inhibits

target to enhance the expression of genes critical for the

formation of new memories to slow cognitive decline and

improve QoL

• Seed of $1.7m Jul 1, 2013 - Atlas Venture, Proteros

Biostructures and Johnson & Johnson, Venture Health

35www.rodintherapeutics.com

• About

• Small device reads and sequences DNA and converts it into binary code using a tiny computer chip (malaria drug resistance)

• Campaign Hook

• By contributing to this campaign, you are furthering development of our device and readying it for mass manufacture. Most importantly, you are providing malaria tests for hundreds if not thousands of children in Africa as part of a large clinical trial. We're also giving you an opportunity to leave a legacy by helping to name our device, and design the look and feel of it.

• Campaign Non-Financial Goals

• Support development and clinical trials; lab to field

• Campaign Financial Goals/Totals

• Indiegogo $18,035 of $50,000 (36%) Feb 12 – March 31, 2014 (47d)

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http://www.indiegogo.com/projects/the-future-quantumdx-s-

handheld-dna-lab

• Rewards Promised• $10 shout-out

• $25 sticker, email updates

• $35 t-shirt

• $50 Coffee mug

• $7,000 travel to UK, goody bag

• Deliverables Promised• $145 Lab coat

• $75 Dx test to African child, famous photo

• $225 Dx test to 3 African children

• $695 Dx test to 10 African children, t-shirt, phone call

• $2,500 Dx test to African class, t-shirt, phone call

• $50,000 fund satellite clinical trial in new location

37

http://www.indiegogo.com/projects/the-future-quantumdx-s-

handheld-dna-lab

Marketing Materials

• Comprehensive, well-produced video

• Logos of news sources covering the company and with

quotes

• Bullet-point content with pictures on tech and device,

picture of team, discussing development and partners

• Campaign video from Pins and Needles Media

• Company also on Facebook, Twitter, Youtube, and has own

website

38

http://www.quantumdx.com/

• About• Tech that measures DNA damage:

• “Exogen Biotechnology is a health startup aimed at developing cutting-edge technologies for individuals to monitor damage to their DNA and to assess their DNA repair capacities for the purposes of personalized and preventive health care”

• Campaign Hook• “Campaign is not about the money, and the contributions for the perks will

hardly cover our expenses. This campaign is a citizen science project, and our target is about gathering data to look at how age, medical conditions, environmental and lifestyle factors correlate with DNA damage.”

• No FDA, research and info only

• Campaign Non-Financial Goals• Gathering big data by covering some of the costs.

• Campaign Financial Goals/Totals• Ingiegogo: $50k goal (January 25, 2014 – March 26, 2014)

• Achieved: $20k 3 days, $50k 10 days, $106k 60 days (212%)

39www.exogen.com

• Rewards Promised• $15 name on website

• $25 t-shirt

• Deliverables Promised• $99 US kit (3 samples)

• $124 non-US kit (3 samples)

• $179 US kits (2x3 samples)

• $204 non-US Kits (2x3 samples)

• $359 US 4 kits over 1 year

• $459 non-US 4 kits over 1 year

• $399 family US kits (4x3 samples)

• $439 family non-US kits (4x3 samples)

• $999 US monthly tracker (12 kits)

• $1,299 non-US monthly tracker

• $5,000 monthly self-tracker, visit facilities and meet team

40www.exogen.com

• Marketing Materials

• Comprehensive video with fancy transitions, music, graphics,

simulation of DNA breaking and device working, video of

scientists/labs, interviews

• Pictures and profiles of team & advisory board

• FAQ

• Updates

• Company is also on Facebook, Twitter, YouTube and has its own

website (with overview, team info, tutorial on DNA damage, and a

news blog)

41www.exogen.com

• About

• Direct-to-consumer microbiome sequencing company (SF, CA)

• Campaign Hook• Sequence your microbiome through citizen science

• Campaign Non-Financial Goals

• Citizen science, data acquisition and international outreach

• Campaign Financial Goals

• Indiegogo: goal $100k (Nov 15, 2012 – Feb 18, 2013)

• Achieved: $351k in 94 days (352%)

42

www.ubiome.com

• Rewards Promised• $5 shout-out

• $25 t-shirt

• Deliverables Promised• $79 GI Microbiome kit

• $89 GI Microbiome Kit + t-shirt

• $139 GI and Oral Microbiome kit + t-shirt

• $148 2x GI Microbiome kit (1 for you, 1 for Africa) + t-shirt

• $209 IBD: 3 GI kits for different time points

• $235 IBD: 3 GI kits for different time points + web app for personal experiments +

t-shirt

• $335 GI, Mouth, Skin, Nose and Genital Microbiome kits + t-shirt

• $1,337 5xkits to use at 5 different time points + personal guidance + t-shirt

• $10,000 consultation with scientists, visit lab, all kits

43

www.ubiome.com

• Marketing Materials

• Comprehensive video describing product, physiology, etc.

• Logos of selected press and news

• Quotes from Key Opinion Leaders

• Descriptions, content on microbes, body, how it works, pictures

• Advisory board

• Facebook (2,000+ likes), Twitter (5,400+ followers), YouTube (<5

videos), Website (welcome, how it works, order now, simple and

effective website)

• Mailing list, kit ordering

44

www.ubiome.com

• About• Applied Integrin Sciences, Inc. discovers, develops and commercializes protein drug

therapies for cancer treatments that reduce solid tumor growth and progression, and improve patient survival and quality of life. AIS is a socially responsible organization in drug development and targets the ovarian cancer indication for the intraperitonealtumors as an orphan disease.

• Campaign Hook• Involvement matters, impact will be huge, donation focused, 100% tax deductible

with matching partners

• Campaign Non-Financial Goals• Accelerate the availability of drug discovered at Norris Cancer Center that fights

Ovarian, Breast & Prostate cancers. Need $200k to demonstrate “drugability” where drug discovery becomes drug development. With $500k, will have drug manufactured under FDA. With $1m will fulfill pre-requirements for investigational NDA with FDA, begin human clinical trials. VC and pharma expected to finance after this phase.

• Campaign Financial Goals• Raised $86,000 of $200,000 goal | Launched 8/29/2013 ended 12/16/2013 (109d)

• Tax deductible donation to cancer research

45

http://www.whenyouwish.com/project/boostcancersurvivalrates

• Rewards Promised• $5 pen

• $10 shout out, email updates

• $20 ribbon signed by CEO

• $50 two free move tickets

• $50 coffee gift card ($25)

• $50 in memory of dead, shout out

• $100 in memory of loved one, name listed

• $150 just because (nothing)

• $250 your story featured on website w/ video/text

• $500 phone conversation w CEO, story featured

• $1,000 story of crowdfunding campaign, tips, stats, lessons learned

• $1,001 lunch w CEO and story featured

• $2,500 crwdfnd story PDF w tips, contacts, etc, your story, company logo as sponsor

• $4,999 Dinner with scientists or CEO flies to you

• $5,000 sponsor, workshop w creative team from AIS that developed the crowdfunding campaign, seminar on crowdfunding

46

http://www.whenyouwish.com/project/boostcancersurvivalrates

• Marketing Materials• Executive summary

• Company purpose, market & opportunity, management & advisors, product & technology, business model, financial, thesis

• http://www.whenyouwish.com/upload/fa820770-7066-476e-b335-e77815928266.pdf

• Fact sheet • http://www.whenyouwish.com/upload/dd7291db-8c10-4486-87e7-fd532485da5a.pdf

• Development Funding Sought: Private equity (Series A), partnerships, grants for aggregate commitments of $22.0 million are sought; distributed in three success‐based milestone tranche investments to finance the company through Phase IIb clinical trials: 1) prepare for and file IND for Phase I/IIa human clinical trial ($3.0 million); 2) Conduct Phase I/Iia clinical trial/mfn. drug doses ($5.0 million); 3) conduct Phase IIb clinical trial ($14 million).

• Presentation on company

• Non-Confidential science presentation• http://www.whenyouwish.com/upload/9472f5f9-30bd-407d-ab10-0f915c71eca8.pdf

47

• Start A Cure is a fundraising project for cancer research

created by Malecare.

• New York, NY 501(c)3 nonprofit

• Raises funds and awareness, distributed 92% of funds

(cite 16-65% for most foundations and gov’t agencies

distribute)

• John’s Hopkins research on prostate cancer treatment ($8k, met

Dec ’13)

• www.facebook.com/StartACure

• Limited Twitter activity

• Contact: Darryl Mitteldorf darryl@malecare.org

48

https://startacure.com/

Name of Fund on .com website Organizer Raised # Pledgers Avg Pledge Goal

%

Goal

development of bioactive anti-cancer drug Beth Israel Deaconess $ 30 3 $10 $ 45,000 0%

Pre-clinical testing optimized prostate cancer NKT-'Gvax' vaccine Brigham & Women's $ 185 4 $46 $ 30,000 1%

Live-cell prostate cancer diagnostic Cellanyx $ 27 3 $9 $ 13,500 0%

Develop guide for how to diet after prostate cancer Dx Columbia University $ 20 2 $10 $ 50,000 0%

Characterize pathways in prostate cancer Dana Farber Cancer Inst $ 50 1 $50 $ 50,000 0%

Study to analyze prostate Dx, whites vs blacks John Hopkins professor $ 8,113 33 $246 $ 8,000 101%

testosterone therapy for prostate cancer John Hopkins professor $ 2,900 14 $207 $ 25,000 12%

PTEN biomarker for CT prostate cancer John Hopkins professor $ 105 3 $35 $ 50,000 0%

Zytiga and Xtandi drug development John Hopkins professor $ 480 5 $96 $ 30,000 2%

molecular raiotherapy for metastic prostate cancer John Hopkins professor $ 55 3 $18 $ 30,000 0%

Heat ablation w HPV vaccine for anal precancers LA Gay & Lesbian Center R&D $ 20 2 $10 $ 50,000 0%

genetic signature to identify men with risk of prostate cancer

progression MD Anderson Cancer Center, TX $ 75 1 $75 $ 50,000 0%

nanoparticle based thermal therapy and DD Medical Nanotechnologies, Inc. $ 440 9 $49 $ 10,000 4%

Probing porstate cancer metastasis by circulating tumor cells UCLA $ 316 5 $63 $ 50,000 1%

Using bacteria to cure prostate cancer University of California Irvine $ 15 1 $15 $ 50,000 0%

drug to augment effectiveness of androgen deprivation University of Pittsburgh $ 220 5 $44 $ 8,000 3%

Development of anti-insulin resistant drugs for obese University of Texas Anderson Cancer Center $ 26 2 $13 $ 45,000 0%

Fighting prostate cancer w breast cancer drugs University of Toronoto $ 198 4 $50 $ 30,000 1%

Cell-cell interaction in cancer development University of Washington $ 100 2 $50 $ 50,000 0%

Economics of cryotherapy for prostate cancer Winthrop University Hospital $ 10 1 $10 $ 35,000 0%

49

JOHN HOPKINS' PROSTATE STUDY

• Description of the study

• Limited social media presence

50

PHARMA SAFE (ROCKETHUB)

• Drug abuse deterrent alarm and lock (device)

• Rewards Promised

• $10 Thank You

• $25 label pin

• $100 t-shirt,

• Deliverables Promised

• $250 actual device

51

http://www.rockethub.com/projects/35359-pharmasafe

THE FLYING SYRINGE (ROCKETHUB)

• West Nile Virus proof-of-concept idea to genetically modify

mosquito populations

• Rewards Promised

• $5 Thank You

• $10 Wristband

• $25 email updates

• $50 t-shirt, wrist band

• $100 t-shirt, 3D molecule

• $250 Skype call

• $750 Skype call, virtual tour

• $1,500 Skype call, daytime visit

52

http://research.bergen.org/index.php/12-front-page-

slider/60-provita-rockethubm

NANOMEDICINE DRUGS FOR AIDS

VIRUS

• FAILED in 203: Only Raised $10

• http://www.rockethub.com/projects/11875-potential-

nanomedicine-drug-for-aids-virus

• Has rewards for up to $5K

53

• Kids with rare or incurable diseases

• Tax-deductible gift

• Rewards Promised• $25 thank you

• $100 “adopt a drug candidate”

• $1,000 “adopt many drug candidates” for a classroom

• $3,000 “adopt many drug candidates” for a classroom, wrist band, education website

• $5,000 “adopt many drug candidates” for a classroom, wrist band, education website, 3 hours of Skype with scientist

• $10k all above, scientist comes to school to present, + family dinner

• $25k dinner with director

54

SOME KEY CROWDFUNDING FOLKS

• Krist Weling, partner at law firm McDermott WIll & Emergy (lawyer)

• Thierry Merquiol, partner at France-based WiSeed (investor)

• Souleymane-Jean Galadima, associate at WiSeed (investor)

• Lorenzo Pellegrini, VC with Care Capital in Princeton, NJ (investor)

• Barbara Nelson, consultant, Nelson Biomedical (consultant)

• Gregory Simon, CEO, Poliwogg financial firms (investor)

• Elaine Warburton, CEO and cofounder of QuantuMDx (funding)

• Sylvain Costes, cofounder of Exogen (biotech)

• Jon Tang, cofounder of Exogen (biotech)

• David Miller, president of Biotech Stock Research in Seattle (research)

55

TAKEAWAY: KEY POINTS

• Helps to have network in place or expert support

• Exposure on funding website can be crucial

• Relevant content, news, interesting material (blog)

• Comprehensive video

• Many different donation amounts with different rewards

(some real, some feel-good)

• Heartstrings effect (bettering of society)

• Rewards do not have to be deliverables

• Meet the team, see the lab, view the science

• Facebook and Twitter involvement to expand crowd but is

not completely necessary

56

ABOUT THE AUTHOR

Rob Littlefield graduated from Columbia University in the City of New York

with a Master of Science degree in Biomedical Engineering and Bucknell

University with a Bachelor of Science degree in Biomedical Engineering. He

currently is a medical device senior market research analyst for GlobalData

Healthcare and lives in Waltham, MA with his wife, Lara, Founder and CEO

of BWD inc.

{ contact@roblittlefield.com }

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