After the 2021 public biotech market shakeup, life science investment dollars may be shifting. The past few years have seen a crowded investment market, with both veteran life science investors and new opportunistic investors getting in on the groundswell, especially in the case of IPOs.

In 2021, many of these transient investors cleared out when the bottom finally dropped out. While this investor exodus has been tough for pre-clinical and Phase I startups hoping to go public, steadfast VCs and other biotech investors have the flexibility and wherewithal to weather the froth coming of the IPO market . Comparing 1Q22 to a year earlier is revealing: only nine came in the first three months of 2022 versus 33 IPOs in 1Q21.

So, how will investors wield this new-found freedom? Some signs point to early-stage opportunities as a good destination for their dollars.

Demand for biotech IPOs still weak

One factor pushing investors away from later stage biotech is compressed exit opportunity – either through acquisition or IPO. The fervor for biotech investment carried over from 2020 drove the overvaluation of biotechs going public at all technology stages, leading to a poor post-IPO performance from 2021’s public crop. This trend has shaken confidence in the ability of biotech IPOs to yield returns and has caused all except dyed-in-the wool biotech VC investors and strategics to hang back. While there

is a continued supply of biotechs at the age and stage to go public (approximately 75 companies have SEC registrations ready), there is simply not enough demand for those IPOs currently.

While companies considering an IPO do not all necessarily boast technologies in advanced clinical trials, there is certainly a correlation between technology maturity and propensity for IPO. As a result, those in late-stage clinical work with technologies closer to market may feel the pressure of a slumped IPO market more acutely than less mature firms, primarily because of their cost structure.

With the XBI still leveling out at about half its highwater mark of a year ago, investor confidence in the biotech market will take time to recover. So, it may be a while before capital flows back into public biotech markets to enable the consistent exit environment of last year.

Though the valuations won’t be as lofty as in 3Q21 without the “crossover” or pre-IPO investors, late-stage biotechs can nonetheless seek financing from seasoned VCs, eager to put their money into more reasonably priced deals, and fund the significant

C-rounds needed to support these larger, more mature biotech firms.

Late-stage acquisitions few and far between

The other exit path for late stage biotechs, acquisition by big biopharma, is showing very little activity currently. At the J.P. Morgan Healthcare Conference in January 2022, big pharma such as BMS, Novartis, Pfizer, and Roche indicated their preference for smaller, ‘bolt-on’ deals with small- to mid-size companies rather than large, capital-intensive M&A deals. Smaller deals allow big biopharma to leverage the target’s unique expertise, whereas value added from large, late-stage biotech acquisitions may be not as substantial because of acquirer overlap with the target’s skills.

Moreover, the hawkish tone of the FTC since 2021 has indicated that the coming years could see increased scrutiny on large deals. While the Pfizer completed the acquisition of Arena Pharmaceuticals,  the waters of large-scale acquisitions remain untested. These factors may make the ‘exit via merger’ route harder to come by for a large share of later stage companies..

Could VCs and strategic investors shift focus upstream to earlier-stage biotech?

Given biopharma’s currently small appetite for late-stage acquisitions, the focus on earlier-stage biotech is coming from both strategic investors and life science VCs. And that’s not a bad thing, as it will avoid putting more pressure on the large number of biotechs that went public in 2021 whose shares trade below their IPO price. An investor shift toward earlier-stage, private-market opportunities where those companies remain private longer will give public biotech markets time to recover. Meanwhile, companies spending time to create real, milestone-based value, will be in a position for an exit either via industry acquisition or through a solid, facts-based IPO story.

Moreover, looking backwards to early-stage companies could help investors find more potent contenders to face the now-crowded startup scene. The IPO enthusiasm of 2021 weakened the winnowing process for biotechs and led to an environment with too many companies, with similar, poorly differentiated technologies. Backtracking to earlier stage opportunities could help investors find technologies with the potential to leapfrog the current generation rather than ones providing only incremental improvements.

Rising interest rates could interfere

While a new focus on earlier stage companies seems to be a natural shift, factors like current events and high inflation, which add uncertainty to the market, may intercede. Investors expect the Fed to push interest up rates several times over the coming months to fight inflation, projecting interest rates six more times over the year. These higher interest rates work against longer term, riskier investments while pushing investors into safer markets. However, the magnitude of this effect on current markets is unclear as of yet.

Takeaways: Early stage biotechs could be the winners of 2022

Despite the difficulties of 2021, life science investors are fueled up and ready for

another round. Already in the first quarter of 2022, VC funding reached almost $8 billion, which is higher than all of the last three quarters of 2021. Many of these funds are explicitly set for new venture creation or early stage technologies, such as Atlas Venture’s recent $450 fund geared toward generating new biotechs from existing and new creators. Other players are also making their plays in the early-stage biotech market – including corporate VC such as Fujifilm, which has set up a small new fund of $60 million explicitly for early-stage companies and in modalities like cell therapy.

With the intensity of the current market downturn, factors pushing investors towards earlier stage companies are also strong. Namely, the lack of exit opportunities for later stage companies, either by IPO or acquisition, could cause capital to shuttle rapidly up pipeline. The recently churned market may yield exciting opportunities to a fresh generation of early-stage tech in 2022.

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Last month saw the publication of WIPO’s new bi-annual IP report, entitled “The Direction of Innovation”. The report is packed with insights, bringing a combination of powerful observations that really hit home backed by data-driven analysis that look deeply into how and why innovation flows.

A key perspective of the report points to the split of economic benefits which go to society (social benefit) vs. returns to private sector investment (private benefit). Spoiler warning: a clear example is the lightning-paced work occurring from the time Chinese scientists sequenced and released the mapping of the SARS-CoV-2 virus in January 2020, to Covid-19 public vaccinations – barely a year later. While many may point to big pharma’s eye-popping profits, the WIPO report shows that the quantifiable portion of the economic benefits to society are roughly 900x those of the revenue earned by the private sector!

The best laid plans… how global crises affect innovation ecosystem participants

On 7 April 2022, WIPO’s IP and Innovation Ecosystems Sector (IES), hosted a short conference to present summary findings of the report, accompanied by a lively panel discussion. Marco Alemán, head of WIPO’s IES, introduced the key concept of how dependent major innovation outcomes are on the influence of each participant in the ecosystem: nations, institutional scientific and engineering research, and private sector investment. However, major events beyond the control of public policy makers shape outcomes, usually via crises, such as war, pandemic and natural disaster. Those crises have enormous impact on research and innovation outcomes. Look at how penicillin development rose in direct response to battlefield infections.

Reflecting academia, industry & government, panel’s views on setting of the direction of innovation

In introductory remarks and presentation of the panelists, Dr. Carsten Fink, head of the IES Department of Economics and Data Analysis, provided illustrations of the change in pace and focus of innovation since the industrial age. As society made its lunge forward in technology in the 20^th century, it did so in recognizable big waves, i.e., engine/transport > pharma > ICT > digitalization, today.

And some funny things happened on the way to the IP forum. A most recent example is digital-related innovation: it has grown 172% faster than all patents over preceding five years.

Lively panel discussion

Introducing themselves and their work, each panelist drove home the reality of innovation acceleration. The panelists included Victor Aguilar, Procter & Gamble’s Chief R&D and Innovation Officer, Dr. Xiaolan Fu, Professor and Founding Director of Oxford University’s Technology & Management Centre for Development, David Kappos, Partner at Cravath, Swaine & Moore, and former Director of the USPTO, and Caroline Ylitalo, Division Scientist at 3M. Here a few items that resonated with me:

Views from academia, industry and public sector

• Dr. Fu highlighted the case of under-the-radar innovation taking place in developing economies, and how digitalization is changing adoption patterns into and out of LDCs. But it’s not only permeability and diffusion that are changing, it’s also about the impact on labor and the growth in services from disembodying know-how and delivering expertise digitally.
• From the corporate side, 3M’s Caroline Ylitalo spoke of major challenges and trends we face as society. She highlighted the impact of crisis and the opportunities they may arise from it, shown in the surge in demand for N95 masks, and visible also in the utility gains from the digital world’s access to masses of technical information, along with the advent of ideation tools and collaboration platforms.
• P&G’s Victor Aguilar drove home the point of digitalization’s impact for P&G’s goal of improving life, ranging from AI’s contribution to retailing optimization, to its role in designing smart toothbrushes, and to the increasing importance of identifying relevant innovation arising outside P&G.
• Cravath’s David Kappos highlighted how dependent the realization of huge economic output and the delivery of the benefit to society are on making sure ecosystems’ participants do what they do best (per their respective missions)
  • Private sector develops suitable commercially defensible applications,
  • Inventors and their institutions need access to the tools – including collaborative networks – to help convert their innovative insights into invention disclosure and products
  • Governments alone needs to provide money and structure of well-reasoned incentives to grow and make accessible the bounty of fundamental research;the private sector’s need to provide returns to owners makes investment in basic research prohibitive.

Public and private motivations: even if not aligned, good neighbors enable a productive existence

The role of government policy and its ability to create a fertile bed of fundamental research is a topic receiving significant attention. And well it should. Thoughtful and economically supportive public policy for fundamental research can produce huge big social benefits. Once they’re convinced of the business potential prospects, the private sector gets busy converting discoveries from a trove of basic research into commercialized inventions. That’s not all, as “de-risked” innovations come into focus, industry dramatically increases its share of development expense.

Beginning in the 1950s, the space race led to the creation of NASA in the US and its enormous role in driving aerospace research and creating in the process a rich network of public-private collaboration. Sponsored research was involved of course, but government purchases of innovation-based products from the private sector – there was no other buyer – were also a critical factor in clearing a path to commercialization of those space-age inventions.

Enormous productivity flowed from that inventive output which created social benefits many times those of the gains for the private sector in a broad array of fields, such as energy storage, photovoltaics and nuclear energy.

The grand challenges facing us and the need to pay attention to the direction of innovation

As the world faces climate change, ongoing food insecurity, the need for higher levels of education and the preservation of privacy rights, to name some big ones, government can play an important role. While the public sector can’t do a great job of predicting private sector winners, it can do things to even out the playing field through incentives, such as by purchasing from innovative smaller firms willing to take the risk of developing emerging technology.

There is so much inside this report, I am moved to invoke lyrics from OMC’s 1995 hit single, How Bizarre, but with a twist: you don’t need to “buy the rights”, WIPO grants you a free readership license, so download their great Intellectual Property Report 2022: The Direction of Innovation – and enjoy its valuable insights.

BTW, keep an eye out for a future SeedSprint blogpost where we’ll get more into the weeds on a topic WIPO cares a lot about: increasing the efficiency of the critical interplay between innovation-seeking large enterprise on one side, and technology providers on the other, i.e., institutional intermediaries such as TTOs, along with risk-taking micro and SMEs (MSMEs) in the private sector.

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If the atmosphere of the pandemic is feeling somewhat optimistic after years of tumultuous ups and downs, the tenor of Biotech financing is feeling rather the opposite. While 2021 broke records in biotech IPO and private investment markets, it left many disappointed by the aggressive cool-down following the February peak. With a steady downward trajectory for the XBI, the S&P index for Biotech, leaders at emerging biotechs, established pharmas, and life science VCs have had to change strategies to face the challenge. Now, with some distance from the bubble of 2021 and the first quarter of 2022 over and done with, it’s time to evaluate how the biotech markets have been faring.

Recap of 2021 biotech capital markets

2021 started out strong with a record-breaking total of IPOs and an unprecedented number of early-stage biotechs going public, with many not yet able to provide clinical data. This frenzy was fueled by high demand for IPOs and rewarded crossover investors with high returns over short turnover times. This steady string of successes compelled even investors traditionally interested in less risky ventures to turn their attention to biotech.

Large early-stage crowd at the IPO door 

A dearth of M&A deals by large pharma companies accompanied this IPO craze, despite pharma giants purportedly holding ample cash. The lucrative IPO market and inflated valuations pushed smaller biotechs and large pharmas away from more traditional M&A partnerships and collaborations.

This rush to list brought a crowd of insufficiently de-risked companies to the public markets, causing a disappointing run for XBI. In total, 80% of 2021’s biotech IPOs ended the year below their initial offering price, signalling investor flight and sapping demand for IPOs. With the bubble of investor enthusiasm for biotech financing burst, startups and fund managers moved to reevaluate their strategies for the coming months.

Little clinical data, similar indications

The early IPO plan pursued by many biotechs in 2021 needs revision for those looking to go public in 2022. The poor performance of 2021’s batch and the tightening availability of capital has made IPOs a much more difficult process. Only five biotechs have had IPOs in Q1 of 2022, and of those only two are currently trading above their listing price.

The aftermath of 2021’s frenzied IPO market are cut-down valuations for biotechs and increased pressure to show value through concrete milestones. Moreover, the 2021 biotech IPO surge brought with it a glut of similar technologies for similar indications, frustrating investors who were seeking differentiated offerings for their money.

Tourists flee, layoffs, but VC & industry at the ready

Investor hesitation in biotech markets is now reflected in a recent rise of layoffs in biotechs, such as at Zymeworks and Passage Bio. The CEO of life sciences executive search firm Slone Partners recently told Fierce Pharma that layoffs seem more prevalent at public biotech companies, underscoring the direct impact of the market-wide decrease in investor confidence in the real strategies of public biotechs.

Despite the flight of investors from last year’s poorly performing market, life science-focused VCs have maintained a deep purse to invest in new biotech startups and technologies. Atlas Ventures recently announced a new $450 million fund, targeting new venture formation. Frazier Healthcare also announced a fund of $987 million to invest in novel biopharmaceuticals in a range of maturities.

Slow down the race to the IPO gate, get concrete milestones in order

According to some biotech leadership and VC managers, emerging biotechs are likely to stay private longer in lieu of the abridged IPO timeline of the last few years. While the enthusiasm of crossover investors has waned with the demand for IPOs, the reshuffling of VC and startup strategy may be a beneficial correction in the long run.  

Perhaps most interestingly, large pharma companies are in a strong position for transactions for the remainder of 2022. The lofty valuations for emerging biotechs in 2021 proved difficult for pharma, evidenced by low M&A activity which consisting primarily of small acquisitions rather than large deals.

Slight uptick in M&A 

In 2022, M&A deals have seen a small uptick. So far, major deals include UCB taking over rare disease biotech Zogenix and AbbVie acquiring neuroscience-focused Syndesi Therapeutics. Furthermore, giants like Pfizer have ample cash on their books and have stated their willingness to spend it on deals. Though yet to play out, such prospects are no doubt on the minds of many.

In addition to the IPO hangover, the slow return of M&A activity may also stem from uncertainty in the regulatory environmentsince March of 2021. At that time, the FTC announced a ‘working group’ to the include European, Canadian and UK competition authorities to create a framework for analyzing pharma mergers, triggered by a spate of deals and high drug prices. However, the FTC recently allowance of  Pfizer’s acquisition of Arena Pharmaceuticals may resolve some lingering concerns holding up similar transactions.

Seasoned investors have plenty of dry powder for clear milestones

Despite a tough couple of quarters since the 2021 cool-down, biotech stakeholders are changing strategies to weather the current market. Many committed investors see the increased scrutiny and focus on milestone-realism as a healthy voice for the true value of biotechs, rather than the overexuberance that led the overbought market of 2021.

Though unclear how long the climb from the 2021 sell-off will take, seasoned life science investors and leaders see this as a temporary blight.

The post Beyond the IPO: biotech market update post 2021 sell-off appeared first on seedsprint.

At SeedSprint, We’re always on the lookout for disruptive innovation in industries like biotech, medtech, chemical and materials, energy, and beyond. Here are five innovations that caught our attention this fall.

(1) Secure AI Labs 

MIT spinout Secure AI Labs (SAIL) has created a platform that encourages greater collaboration in the healthcare industry. The platform enables organizations to share encrypted patient data protected by SAIL’s AI algorithm. In the end, innovations like SAIL invite broader healthcare discoveries powered by larger, cross-functional data sets that don’t compromise om patient privacy.

(2) Tia

Female-led healthcare company Tia is revolutionizing women’s health with its holistic healthcare service offerings. Tia offers comprehensive primary care, mental health, and gynecology services both in-person and virtually. The company recently raised a $100 million Series B, which the company will use to scale its geographic and demographic reach. Stay tuned for more exciting updates from Tia soon!

(3) Amazon’s Astro

Amazon’s first home robot, Astro, is an interactive surveillance technology intended to monitor your home while you are away. Astro’s movement is limited to the home and the owner can remotely access its camera and microphone. Amazon plans to bring Astro to market soon, so keep your eyes peeled!

(4) UPS drone delivery

UPS’ Flight Forward drone service recently received government approval to service commercial entities, including hospitals and college campuses. This milestone marks a national adoption of drones as a means of streamlining and maximizing delivery service capabilities. Are residential drone deliveries next? UPS thinks they’re not far off!

(5) Spring Health

April Koh, CEO of mental health platform Spring Health, recently became the youngest female multi-billion-dollar startup leader as the company secured a $190 million Series C. Koh started Spring Health in response to the financial inaccessibility of mental health services and the lack of digital mental health options. Now, she is determined to establish Spring Health as a sustainable public service that offers expansive mental health benefits. We can wait to see what’s next for KOhn and her team.

Innovation happens fast and it can be difficult to keep up with all the exciting developments happening every day. Subscribe to our newsletter for monthly updates on the latest in innovation and more from our community.

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In this installment of ‘Emerging technology startups profiled on seedsprint,’ we explore startups developing innovative chemicals and materials across diverse applications from biotechnology to consumer goods to sustainability. Here are some up-and-coming young chemical and materials companies that you’ll find on the SeedSprint platform!

(1) BrightSpec (Focus: Analytical Chemistry; Based in Charlottesville, VA)

BrightSpec’s instruments tap into the power of molecular rotational resonance (MRR) spectroscopy. MRR complements other techniques such as Mass Spectrometry or NMR, but can also solve problems that these methods can’t. Using breakthrough technology developed by Brooks Pate at the University of Virginia, BrightSpec made this powerful technique significantly faster, cheaper, and easier to use. BrightSpec is in the process of working with leading biotech, chemical, and environmental players to bring innovative solutions to these applied markets. View SeedSprint profile.

(2) Cirrus Materials Science (Focus: Performance Coatings; Based in Auckland, New Zealand)

Cirrus Materials Science develops stronger, more environmentally-friendly materials. The company’s low energy, low impact processes require minimal transition effort for clients and offer maximum performance benefits for products. Because of their innovative processes, Cirrus Materials Science is always ahead of the curve on environmental and sustainability benchmarks. View SeedSprint profile.

(3) Sixonia Tech (Focus: Graphene Formulations; Based in Dresden, Germany)

Sixonia Tech’s E-Graphenes are few-layer, large flake graphene materials that are functionalized and formulated to meet your processing requirements and tailored for perfect interaction with the desired matrix system. Graphene is a promising material and has many applications, including in polymers or ink formulations. Sixonia Tech identifies the most suitable E-Graphene for the specific application and develops the right material form and properties for perfect integration into a number of applications. View SeedSprint profile.

(4) HyMet Thermal Interfaces (Focus: Electronics Materials; Based in Riga, Latvia)

HyMet offers a new class of thermal interface materials with high thermal anisotropy, excellent conformability, and a high level of customizability. The technology has applications in computing, telecom, e-mobility, and consumer goods. HyMet focuses on physics rather than chemistry, meaning it has tremendous design freedom to spread heat, deform plastics, wet surfaces, and much more. View SeedSprint profile.

(5) NS Nanotech (Focus: Semiconductors; Based in Ann Arbor, Michigan)

NS Nanotech develops innovative Nano-LED Technology. The company’s far-UV ShortWaveLight™ Emitters are the world’s first semiconductors to produce invisible, short-wavelength ultraviolet light that researchers say inactivates coronavirus while posing less risk of harm to skin and eyes than longer-wavelength light. Their nano-LEDs will be used in the coming generation of micro-LED displays for brighter, ultra-high-resolution, greater energy efficiency, and very small display sizes without sacrificing performance. View SeedSprint profile.

(6) Fairbrics (Focus: Synthetic Textiles; Based in Clichy, France)

The fashion industry produced almost 5% of manmade CO2 emissions in 2015 – more than aviation and shipping combined. Synthetic fiber production accounts for around 40% of total fashion industry emissions. Fairbrics is developing the first synthetic fiber with a net positive impact on climate change and is capable of meeting the demand of the market. The company is setting up a pilot plant to be able to scale the technology and will open an industrial plant in a few years capable of producing commercial volumes of polyester fiber. View SeedSprint profile.

(7) Cemvita Factory (Focus: Synthetic Biology; Based in Houston, Texas)

Cemvita Factory applies synthetic biology to reverse climate change, ultimately decarbonizing heavy industries. Cemvita’s vision is for humans to live in harmony with nature. To do so, they are determined to remove one gigaton of CO2 by 2050 – that’s 2.5% of 2020 global emissions. Cemvita partners with companies and applies synthetic biology to help companies on their energy transition journey. View SeedSprint profile.

Young chemical and materials companies like these on SeedSprint are developing cutting-edge technologies applicable across many different fields. Keep an eye out for future installments of ‘Emerging technology startups profiled on SeedSprint’ to discover more game-changing innovations with us!

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The segment of “Emerging technology startups profiled on SeedSprint” features five life science companies whose tech is innovating treatment and detection efforts in various areas of health, from cancer to neurodegenerative diseases. These companies’ technologies evidence how small, molecular interventions can alter the human life course and display the power of life science R&D in affecting broad, evolutionary change. Read about their impact here!

(1) TargetGene Biotechnologies (Indication(s): Various; Based in Israel)

TargetGene has developed a precise gene-editing platform to treat and cure diseases by permanently editing patients’ DNA. The TargetGene Genome-Editing Engine (TGEE) uses two guide RNAs and allows for greater specificity, safety, and efficiency than existing treatments. As a result, it is possible to treat diseases with only a single treatment as opposed to chronic therapy. At present, Targtene’s TGEE system has been successfully implemented in human cell lines. The company hopes to apply it to human gene therapy soon. View SeedSprint Profile.

(2) Nyrada (Indication(s): Cardiovascular, Neuroscience, and Inflammatory; Based in Australia)

Nyrada is developing novel small molecule drugs for cardiovascular, neuroprotection, and inflammation treatments. The company’s cardiovascular program uses a PCSK9 inhibitor to treat high blood LDL-cholesterol levels in patients who cannot take statin drugs. The neuroprotection program aims to develop a drug that will limit the number of brain cells that die after a stroke or traumatic brain injury, hence reducing the associated long-term disability and improving patient outcomes. Nyrada is also developing drugs to treat inflammation in the cases of peripheral neuropathy and autoimmune diseases such as psoriasis. View SeedSprint Profile.

(3) PPB Technology (Indication(s): Various; Based in Australia)

PPB Technology has developed CYBERTONGUE®, a device that can detect lactose and proteases in milk samples in a matter of minutes. This allows producers to quickly test their supply to ensure quality and safety for consumption. CYBERTONGUE®’s biosensor technology is currently being expanded to detect other targets, including allergens, hormones, toxins, antibiotics, and biomarkers for various diseases. The company hopes to further develop its technology for applications in environmental monitoring, biosecurity, and health. View SeedSprint Profile.

(4) ADx Neurosciences (Indication(s): Neuroscience; Based in Belgium)

ADx Neurosciences is developing tailor-made biomarker assays to detect neurodegenerative diseases before symptoms appear. Their solutions are designed to fit individual needs and are scalable and suited for clinical use. This allows In Vitro Diagnostics (IVD) companies to focus on drug development with the need for specific biomarkers already resolved. ADx’s portfolio includes biomarkers that detect Alzheimer’s pathology, neuronal damage, synapse degeneration, Lewy bodies, and more. The company is currently working towards ISO certification of its antibody production process. View SeedSprint Profile.

(5) Cellestia Biotech (Indication(s): Oncology; Based in Switzerland)

Cellestia is developing therapies to control pathogenic gene expression in cancer and autoimmune diseases. Their therapies involve selective inhibition of transcription factors in the cell nucleus which were previously undruggable targets. Recent advances have allowed for the identification of molecule binding pockets in these transcription factors that can be targeted with small molecule drugs. Their lead compound, CB-103, is currently in Phase 2 clinical development and is successfully treating patients with ACC, T-ALL, breast cancer, and rare NOTCH-positive tumors. View SeedSprint Profile.

Now more than ever, amidst Covid-19, the life sciences sector plays an essential role in preserving and improving global health. SeedSprint has a growing number of life science startups and technologies like these, and we are excited to see the impact their tech will continue to make.

Interested in learning more about the thousands of companies and technologies on SeedSprint? Keep an eye out for more segments “Emerging technology startups profiled on SeedSprint!”

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When you start a company to commercialize your technology, choosing to work with an industry partner can take your technology to the next level. Industry partners can help your company conduct clinical trials, provide investment, help with scale-up, and much more.

However, finding a good collaboration partner is tricky, and can take time. Here are some recommendations for avoiding common pitfalls and finding better partners, fast.

Identifying the ‘right fit’ companies to collaborate with, in the first place

Finding a company to collaborate with involves more than simply identifying an established player in your industry. Ideally, a ‘right fit’ company has innovation goals in your technology area and a track record of success in partnering with companies like yours.

Understanding the industry partner’s innovation goals 

It is important to check whether the prospective partner is actively involved in research relevant to your work. Sometimes, the main websites and product pages for big industry players represent past innovation goals. Instead, look specifically for the company’s Innovation or Partnership page. These pages outline a company’s R&D objectives, corporate strategy, and innovation goals.

Additionally, these pages can even describe the partnership structures they prefer to work with. Together, evaluating these factors can help you determine if a partnership with your startup will fit well with the company’s goals going forward.

Looking at past partnerships

Further, the companies you are targeting should have experience working with companies like yours on development tasks. Some examples of development tasks include prototyping, clinical trials, and distribution.

If a company does not expressly outline its future R&D goals or preferred partnership strategy, look at a company’s recent collaborations. Deals within the past 5 years can sometimes be a good indicator of the company’s interests. Previous partnership structures are also indicative of a company’s preferred role in collaboration, whether it be as a partner in research, collaborator in testing or clinical trials, investor, or acquisition partner.

Identifying the right people at a company

Once you’ve found the right company, many startups face the obstacle of finding the right people to propel your development goals. Business development infrastructure at large companies can be complex and difficult to navigate. Here are some considerations before reaching out to technology scouts to make sure that you are contacting someone that can meaningfully contribute to your relationship with a potential partner.

Understanding area of expertise

Even within a company, technology scouts and business development professionals may have different areas of scientific or technological expertise. The diversity or specificity of a scout’s technology area is often a factor of the size and scientific breadth of the company. Smaller companies’ scouts may work with most incoming technologies, even if they do not necessarily have a background in that field. A large company’s technology scouts may be more segmented by technology area.

Understanding technology maturity

Scouts or BD officers also often work with different company maturities. At larger companies, scouts may specialize in collaborations with academia, startups, or other corporations. In smaller environments, scouts may wear many hats or take on both business development and transactions responsibilities. Their titles may also be less specific to technology sourcing and collaboration.

A scout’s georgraphical region of interest 

Some tech scouts and BD&L people are responsible for identifying exciting emerging technologies in specific regions of the world, while others are location-agnostic. It is important to pay attention to whether the scout you identified covers your region or not before reaching out.

Catching the attention of scouts at relevant companies

Scouts are often inundated with requests from technology entrepreneurs, hopeful to get their technology off of the ground. It is easy for your technology to get lost in the sea of corporate communications. So, how can you make your company stand out and get the attention of tech scouts? SeedSprint can help! SeedSprint is free of charge for startups and research institutions and is available at a flat fee for industry. You can sign up here and search scouts by keyword, maturity, and region. Happy seedsprint-ing!

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Medtech is an exciting field and is one of the fastest-growing sectors on SeedSprint. From wearables to interventional devices, to digital health and beyond, medtech is at the forefront of innovation. Here are six devices that have the potential to diagnose conditions faster, treat disease more accurately, and facilitate overall better health and patient care. 

(1) Articulate Labs (Focus: Orthopedics; Based in Dallas, Texas)

2020 Texas A&M New Ventures Competition semi-finalist and 2019 TechConnect Defense Innovation Award-winning company Articulate Labs is developing the wearable KneeStim device. KneeStim provides personalized, data-driven physical therapy. Worn around the knee, the device uses machine learning to analyze patient movement. Based on these movements, the device responds with directed neuromuscular electrical stimulation. KneeStim provides data to enable more personalized physical therapy that can be performed daily or as needed while being directed remotely by professional therapists. Ultimately, this style of physical therapy is more convenient and has the potential to increase compliance and improve post-surgery outcomes. At present, the KneeStim prototype has undergone a feasibility study. We can’t wait to see what’s next for Articulate Labs! View SeedSprint profile.

(2) Ergosuture (Focus: Surgical; Based in Boston, Massachusetts)

Ergosuture aims to improve deep-tissue suturing with its first product, Drive’N Roll. This handheld device uses rollers to grip the needle at the tip of the device. As such, sutures can be placed in any direction. In addition to allowing for minimally invasive suturing, surgeons can learn to operate the Drive’N Roll more easily than other handheld devices. Ultimately, the device makes suturing less expensive than robotic-assisted suturing. Moreover, their device is easy to maneuver, less strenuous to use, and faster than suturing by hand. View SeedSprint profile.

(3) Vixiar Medical (Focus: Cardiovascular; Based in Baltimore, Maryland)

Johns Hopkins spinout, Vixiar Medical, is developing a non-invasive, point-of-care system to monitor heart disease. The system consists of a device paired with a mobile app. The Vixiar Indicor utilizes a finger photoplethysmography sensor to determine intrathoracic volume by measuring pulse response to the Valsalva maneuver. Since pulse response changes in patients before more obvious symptoms appear, the company hopes to detect changes in cardiac health earlier. This way, the treating physician can make more informed decisions for patients with cardiopulmonary disease. So far, this technology has been tested in multiple clinical studies with promising results. View SeedSprint profile.

(4) Jogo Health (Focus: Digital Health, Orthopedics; Based in Bridgewater, New Jersey)

Jogo Health bridges cutting-edge technologies like artificial intelligence and virtual reality with physiotherapy through its wearable and connected mobile app. The technology takes advantage of neuroplasticity to rewire the brain to strengthen muscles and reduce pain. The company’s digital treatments can be used to treat neuromuscular conditions such as stroke, cerebral palsy, and chronic pain. Currently, Jogo Health is developing and commercializing several digital therapeutics that treat these conditions and more. View SeedSprint profile.

(5) OtoNexus Medical Technologies (Focus: Otology; Based in Seattle, Washington) 

OtoNexus Medical Technologies is revolutionizing the way that middle ear infections are diagnosed with its proprietary ultrasound otoscope. The scope uses Doppler ultrasound which works through the air, rather than a gel. The device collects and analyzes quantitative data on the fluid in the middle ear. This new data then allows physicians to accurately differentiate between viral and bacterial infections. Thus, the doctor can reduce the number of antibiotic prescriptions to only cases where they are necessary. In the end, these improvements to diagnosis decrease health care costs and the over-prescription of antibiotics. View SeedSprint profile.

(6) ThermopeutiX (Focus: Cardiovascular; Based in Poway, California)

ThermopeutiX specializes in catheter devices for diagnosing and treating cardiovascular diseases. The company’s TwinFlo catheter can transform the way an acute stroke is treated by inducing selective hypothermia. The device provides rapid cooling targeted regionally to the brain rather than the entire body. In the end, this rapid cooling provides neuroprotection from hypoxic damage. Further, it does so without side effects that may result from total-body hypothermia. In addition to delivering this quick and selective temperature change, ThermopeutiX’s TwinFlo Catheter can be used to simultaneously deliver therapeutics and diagnostic elements to the brain during the intervention. View SeedSprint profile.

These emerging medtech companies are uniquely poised to drastically improve patient care and health. They represent just a few of the many startups moving the field of medtech forward. Keep your eye out for future installments of Emerging Technology Companies Profiled on SeedSprint and discover more innovative startups with us!

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Clean energy is quite the buzzword these days…but what does it mean? Further, how is it different from energy sources like oil and gas? Read on to learn more about this exciting technology area and some of the emerging clean energy companies you’ll find on SeedSprint!

Clean energy vs. fossil fuels

The majority of the world’s energy comes from the carbon-rich deposits we now call fossil fuels. Fossil fuels include coal, natural gas, and oil. Together, they supply about 80 percent of the world’s energy.

When they are burned, fossil fuels release carbon dioxide and other greenhouse gases. Unfortunately, these greenhouse gases build up in the atmosphere. This buildup causes global temperatures to rise. In the end, burning fossil fuels contributes to environmental damage and climate change.

Further, fossil fuels are non-renewable. As we continue to use them, they run out. By contrast, clean energy recycles the earth’s resources.

Clean, green, sustainable, and renewable

Many people use terms like clean energy, green energy, sustainable energy, and renewable energy interchangeably. However, there are some key differences between these terms.

• Clean Energy is derived from sources and methods that minimize the production of greenhouse gases like carbon.
• Green Energy is derived from natural sources. It minimizes the production of environmental pollutants like carbon.
• Sustainable Energy is derived from sources that will theoretically be able to produce power far into the future.
• Renewable Energy is derived from naturally replenishing sources, such as biofuels.

Around the world, people and companies continue to adopt new power sources. According to Bloomberg New Energy Finance, sustainable energy will account for half of our global energy mix by 2030.

Here are a few of the pioneering clean energy startups profiled on SeedSprint. With their technology, they are working hard to help us meet our growing power demands.

(1) SAFCell (Pasadena, CA, USA)

SAFCell has developed a novel solid acid technology that can be used in fuel cells and hydrogen generators. Using electrocatalytic reactions, the company’s SAFCell stacks convert liquid fuels into electrical energy or hydrogen. The stacks also help minimize carbon emissions. The technology also has several advantages. For example, it can metabolize a variety of different types of fuel. Further, it operates at moderate temperatures is relatively inexpensive. View SeedSprint profile.

(2) Active Energy Systems (Knoxville, TN, USA)

Active Energy Systems’ novel ice thermal storage system makes air conditioning more energy-efficient. The company’s Ice Chiller leverages Icephobic Heat Exchange technology. This innovation repels ice from the cooling surface. This prevents insulating ice from building up. In the end, it cools large spaces at a low cost. View SeedSprint profile.

(3) b.fab (Dortmund, Germany)

b.fab’s proprietary bioproduction platform converts carbon dioxide and hydrogen into value-added chemicals and biofuels. The company produces formic acid from readily available carbon and hydrogen. From there, aerobic or anaerobic microbes convert the formic acid into chemicals. This process is both sustainable and cost-effective. View SeedSprint profile.

(4) 247Solar (Great Falls, VA, USA)

247Solar generates power by heating air to activate microturbines. Any additional heat that is produced is then stored for later use. 247Solar’s solutions can also store energy and generate power in solar, wind, or industrial settings. Ultimately, 247Solar fills the gap between solar energy production and consumption. View SeedSprint profile.

(5) Ionomr Innovations (Vancouver, Canada)

Ion exchange materials are vital to the operation of many clean energy technologies. Unfortunately, many of the traditional materials used contain toxic fluorine. That’s where Ionomr comes in. The company is commercializing a range of novel ion-exchange membranes and polymers. From fuel cells to hydrogen production systems, Ionomr has got you covered. View SeedSprint profile.

Sustainability and innovation

Curious about the impact of sustainability on innovation? Check out our past blog posts on green chemistry technologies, Microsoft’s climate pledge, or General Motors’ commitment to becoming carbon-neutral. Stay tuned for future installments of ‘Emerging technology startups profiled on SeedSprint.” Catch you next time!

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At the end of June, our team attended Part One of a series on Diversity & Clinical Trials hosted by Johnson & Johnson Innovation and Newlab. The talk, entitled Access and Trust, featured panelists Ramona Burress of Janssen, Eric Roberts of Real Chemistry, and Sophia Goodison of GSK. Kimberly Tableman, CEO of Medicine X, moderated the event.

The discussion centered on the importance of recruiting diverse participants for clinical trials. It also highlighted some of the challenges and potential methods for establishing access and trust in clinical trials and beyond.

The panelists emphasized that building health equity is a collaborative process. It requires conscious, continuous effort and communication from all trial stakeholders: clinicians, participants, and sponsors.

Communicating with trial participants early and often

Clinical trials for new therapeutics and medical technologies aim to produce broadly applicable results. To ensure that new drugs and devices can help as many people as possible, Burgess, Roberts, and Goodison stressed that clinical trial leaders and staff must maintain clear and consistent communication throughout the trial. Clear communication helps trial leaders and staff to continuously gather input from participants. 

As such, the panelists strongly urged trial sites to initiate dialogue with participants as early as possible. Early patient engagement makes for more efficient, lower-cost studies. Most importantly, early engagement is an opportunity to build trust before a trial starts.

Consistent and transparent communication translates to participants feeling appreciated. They may also view trial site clinicians as more reliable and trustworthy. In the end, that trust yields higher retention and, consequently, stronger results.

Utilizing communication technologies to inform, educate, and empower

Poor communication in clinical trials can lead to hesitancy, distrust, and subject dropout. Roberts stated that effectively utilizing communication technologies, like smartphones, in clinical trials “informs, educates, and empowers.” Ultimately, communication technologies can enable higher levels of trust among participants.

Smartphones and similar devices are also important tools for addressing barriers to access. They can circumvent physical distance as an obstacle by virtually bringing trials to participants. They can also help clinicians identify disparities in healthcare access.

Further, communication technologies help streamline the informed consent process by providing clear, detailed answers to participants’ questions. Communication technologies are a powerful force in bridging gaps in accessibility, educating trial participants, and enabling trust.

Social media and the power of infectious trust

Social media plays a powerful role in shaping public perception. People are continually exposed to information through social media and often use it to research answers to questions they have. As such, it is critical to consider the role that the accuracy of information shared via social media (or lack thereof) could impact participants’ trust. In turn, trust can affect retention and a study’s effectiveness. 

Social media also has many benefits. For example, social media influencers can play an important role in amplifying trust. Collaborating with social media influencers is a creative way to increase clinicians’ reach to populations who may not even be aware of their eligibility for certain trials. 

Considering influencers’ power on consumer behavior to create what Burress called “infectious trust” may aid a trial site’s efforts at repairing hesitancy and addressing any concerns participants have.

Developing inclusive technology in any industry

At SeedSprint we facilitate collaboration between startups, universities, and corporations that fosters positive and sustainable change. 

While the J&J Innovation and Newlab Series on Diversity & Clinical Trials is focused on clinical trials, its themes resonate in product development for all industries. Innovators in technology areas from chemical and materials to software to transportation and beyond can learn from the panelists’ wisdom.

Understanding how to develop widely accessible technology that can benefit as many people as possible is essential to forging more inclusive innovation ecosystems. We must listen to the prospective beneficiaries of our technology, gain their trust, and empathize with their needs. In the end, their insights will help us develop solutions with the greatest impact.

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