10 Mistakes To Avoid When Seeking Venture Capital For Pharma/Bio
By Rob Jevon
Mistake #1: Hit ‘em Where They Ain’t
Although generals from George Washington to Douglas MacArthur achieved great military success by focusing their forces on underdefended positions, the same does not hold true for venture capitalists. VCs are creatures of habit — actually, profitable habit. They typically go where they have made money before.
So, even if you have outstanding clinical data for a novel ontological agent, don’t bring it to a firm that specializes in cardiovascular therapeutics. Since they haven’t done one before, they’ll have to go find someone they trust to evaluate it, which will take a long time, and since they’ll be nervous about their first plunge into new and uncharted (for them) waters, they’ll haircut valuation. A little homework on venture preferences will save you from the frustration of a long “no.”
Get unlimited access to:
Enter your credentials below to log in. Not yet a member of Pharmaceutical Online? Subscribe today.