Nutter and The Capital Network Boost Boston’s Innovation Economy With Life Science Venture Fast Track 2016Print PDF
Nutter recently hosted The Capital Network’s (TCN) Life Science Venture Fast Track 2016, an interactive full-day seminar for entrepreneurs, researchers, and innovators seeking to understand what it takes to raise early stage capital, specifically for life science startups.
“We are immersed in these issues with our clients, looking for every competitive advantage to help them transform brilliant ideas into commercial success,” noted Michelle Basil, partner and chair of Nutter’s Life Sciences practice group, which works extensively with innovative early stage companies across the country. “This program was a deep dive with TCN into considerations that are mission-critical for most of them.”
“Startups should be able to answer questions such as how their solution is better, faster, or cheaper than existing solutions,” said Jeremy Halpern, partner in Nutter’s Emerging Companies Group and TCN board member, in an Insights package addressing critical issues that startups need to know. “When touting their competitive advantage, startups should use data to support the premise that there is a clear market need and that their solution is meaningful to the relevant parties – that it will increase revenue, drive customer acquisition, lower costs, decrease risk, or provide better outcomes compared to current options.”
Life sciences startups must weigh additional considerations, added Halpern. “Like most high growth companies, life science entrepreneurs need cutting edge innovation supported by strong intellectual property rights to commercialize their products and services. However, unlike many other kinds of startups, life science companies cannot just build products that improve the outcomes for end-user patients, but must also satisfy the competing priorities of care providers and payors, all while complying with a strict regulatory regime.”
Four Nutter attorneys presented at Life Sciences Venture Fast Track 2016. Halpern discussed how to target, locate, approach, and close with venture capitalists, angels, and strategic investors. Basil presented on the use of scoring sheets and lean canvas methods to gain a clear picture of what pieces are missing in one’s company structure to maximize one’s fundraising prospects. Adam Ghander, partner and co-chair of the firm’s Emerging Companies Group, interviewed executives at Wellable about the trajectory of a successful life sciences startup. Will Bernat, partner in Nutter’s Emerging Companies Group, spoke about negotiating term sheets and the funding process.
The complete Insights package on important issues affecting startups, pulled from the Life Science Venture Fast Track event, includes the following features from the Nutter presenters.
- “Innovation to Funding: What Startups Need to Know” by Jeremy Halpern
- “Early Stage Companies: Why You Should Run (and Re-Run) the Startup Version of the Scientific Method” by Adam Ghander
- “Negotiating a Term Sheet? Entrepreneurs, Take Note” by Will Bernat
Nutter’s Life Sciences practice represents an international roster of innovative clients involved in a range of sophisticated technologies in the medical device, biotechnology, and pharmaceutical industries, as well as renowned medical institutions and research universities, emerging growth companies, and angel and venture capital firms. With an understanding of science and technology and a business savvy approach, Nutter’s interdisciplinary team provides life science clients with a comprehensive service solution – from intellectual property and transactional advice to government enforcement, product liability and regulatory matters.
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Nutter is a top-tier, Boston-based law firm providing high-level legal counsel to clients who range from well-established companies and institutions to early stage entrepreneurs to foundations and families. The firm’s lawyers are well-known for their extensive experience in business and finance, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates. Nutter was co-founded by Louis D. Brandeis, who later became a renowned justice of the U.S. Supreme Court, and has been in continuous practice for 136 years. For more information, please visit www.nutter.com.
About The Capital Network
The Capital Network (TCN) is a nonprofit organization that provides extensive financial education alongside an engaged community to help early-stage entrepreneurs in Boston, and strives to help entrepreneurs master the entire funding process to successfully raise seed capital for their startup.