5.4.2010 SPEAKER: Aaron Sandoski, Managing Director, Norwich Ventures MODERATOR: Zen Chu, Director of Business Development & Wyss Accelerator Fund, Wyss Institute for Biologically Inspired Engineering, Harvard University

Forum Summary

To attract investment, biomedical innovators must think backwards.  Investors will only back the development of a product if they are convinced that someone will want to buy it when it works.  When planning clinical trials, one must consider not only the clinical data needed to win regulatory approval but also the clinical data needed to drive adoption (e.g., information a salesperson will want to present to physicians and purchasing committees at the average hospital).  Having a solid business plan has become increasingly vital over the last few years because funding has become tighter.  Today’s financing environment is poor at least in part because start-ups from earlier in the decade are tying up a lot of funds invested in the healthcare industry.  In this environment, however, one’s competitors will have the same challenges, presenting opportunities for companies with good ideas and solid business models.   

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