Tuesday, December 12, 2006

Starting a Biotech Company;Got an extra $10 Million; Poof, There Goes $20 Billion in Market Cap

Yesterday, I put out there that I wanted a list of biotech Venture Capital Firms that invest in start-up companies. The reason why I'm asking for your input is that I am helping an individual identify potential companies for which to purchase to help advance their own research.

All this talk about VC investments and biotech companies got my scientific juices flowing again, and two independent emails from two different colleagues involved in the biotech industry asking "when are we going to start a company" really got me excited about doing something different. I think starting in the new year, we're going to investigate this a bit further. So, if you got an extra $10 Million floating around and believe I can eventually help you cure a disease, develop a diagnostic tool, or just plain make you rich, get hold of me!!!

Personally, my scientific background is pretty solid, which would lend to the scientific part of a company in conjuction with my partners, but my ability to find great talent to augment such a company would be really handy...

A friend, Rhonda, started out in the world of Tocows (sp??) during the dot-com boom, and when that bubble burst she decided to go back to the world of biotech, which she studied in university before her MBA. Rhonda, in my opinion, is one of the most incredible networkers I have met. To get the job and make connections with individuals completely outside her employment circle of influence really impressed me. Not to mention she has referred quite a bit of business to me!! Trust me, she'll be the BD person in the new biotech company. I'm taking suggestions for a corporate name!!!

Im in the throws of about 4 or 5 searches right now, all at various stages. Some science positions, some regulatory affairs, some quality assurace. Cruise over to the Cortex Search Inc. website...

At a christmas party this weekend, a client and I were talking, and it came up the Pfizer's new blockbuster drug, torcetrapib, didn't make it through it's most recent clinical trials and resulted in a $20 Billion loss in market cap. I won't get into it, but a company with the hopes of that drug raking in over $4 billion a year staring in 2012, it came as a big blow, especially, with Lipitor coming of patent in 2010, which, by the way, brings in a measly $12 Billion. I won't address it here, but other blogs do, including the Pharma Marketing Blog...

TT

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