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Life Science Network Update
The Life Science Network includes more than 70 industry experts who volunteer their time and knowledge to our companies to fine-tune their business models and enhance their pitch decks for capital investments.
This month, we're featuring one of our mentors, David Windley, who is the Managing Director at Jefferies LLC.
What is your background?
Finance and accounting—CFA, CPA, MBA (lots of numbers). I have spent 25 years investing in and analyzing health care businesses.
Why did you decide to serve as a mentor?
I spend a large majority of my time with very large, mature companies. I am interested in seeing the startup process more closely, watching disruption evolve, and perhaps providing market intelligence based on what larger health care companies are doing.
What’s consistent advice you give to startup companies you work with? What is a common mistake you see these companies make?
A consistent mistake is over-estimating revenue growth. Entrepreneurs need to involve and value the input from a person who has done this before or a person who has forecasted businesses before.
Why do you think Tennessee is a good place to launch a startup in the life science industry?
I see pros and cons. It takes very little research to realize that industries blossom geographically. That is usually attributable to access to resources. Sometimes those could be natural resources (fossil fuels, metals, waterways), but most often they are human resources. Experience and knowledge base are incredibly valuable.
Tennessee boasts deep health care experience—devices in West TN, services in Middle TN, innovation in Knoxville/Oak Ridge, for example—all of which can be leveraged.
Tennessee lacks experience in biopharma, which makes that more of an uphill climb. However, the state does have leading research institutions, from which discoveries can be licensed, and experienced service providers in the clinical research enterprise.
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Fall Beer & Biotechs
On Sept. 26, join industry leaders at Terminal BrewHouse in Chattanooga to network and learn about the latest life science news in the market. Stay tuned for speaker details. RSVP today!
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Scipreneur Continues
Last week, LST's Academic Alliance in Knoxville kicked off their inaugural Scipreneur Challenge. At the event, student teams were assigned IP from the University of Tennessee at Knoxville and Oak Ridge National Laboratory. Click here to see the available IPs.
This week, the challenge continues with a business seminar led by Eric Mayer, CEO of EDP Biotech. Learn more about this event and the Knoxville Scipreneur Challenge.
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Applications Open for the 2019 Venture Forum
We are currently accepting applications for this year’s Venture Forum during LSTCON. The Venture Forum, sponsored by Waller Lansden Dortch & Davis and Launch Tennessee, is a unique pitch competition for Tennessee's emerging life science startups.
Qualified companies can apply here. Please note that in addition to completing this application, applicants must also send an executive summary to Danielle Pyle at dpyle@lifesciencetn.org. Companies may submit applications until Sept. 20.
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Thank you to our LSTCON sponsors
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LST Member Opportunities
Apply
- ISCTM New Investigator Award: The International Society for CNS Clinical Trials and Methodology has created a program to recognize promising new investigators across the broad range of methodological, regulatory and substantive programmatic interests of the society. Applicants can submit a poster abstract based on original research in the field of CNS Trial Methodology for which the applicant will serve as presenting author; a one page statement of research and career interests; a complete CV; and one letter of reference. Applications are due on or before Nov 1. Learn more and apply here.
- Patents2Products Fellowship Program: The University of Memphis and Epicenter have partnered to create a new program designed to hire post-doc fellows to start businesses, using patented intellectual property developed both in Memphis and across the United States. Starting this fall, Patents2Products Post-Doc program creates a two-year funded position for research entrepreneurs and provides them with the necessary tools for a launching a successful startup. For more information or to apply, click here.
Attend
- The MedTech Conference: From Sept. 23-25, more than 3,000 of the world’s top medtech executives will gather in Boston, MA, for the leading event in our industry—the MedTech Conference. Featuring world‑class plenary speakers, cross‑cutting educational programming, valuable networking and business development opportunities, The MedTech Conference is a must‑attend event for the industry’s prominent and most promising companies. Register now.
- 7th Startup of the Year Competition & Summit: Powered by the new partnership of Established and Start Co., the Summit focuses on the attendee experience. Whether an emerging startup, a successful brand/corporation, or an investor, the Summit provides tailored opportunities that cultivate connections where they matter most for YOU—connecting with startups, connecting with investors, networking, mentoring, and more. Register here for Oct. 14-16.
- MedTech Women @ SEMDA: Network with the brightest women in medtech at this information packed half day conference. A dynamic group of speakers will discuss real-world solutions to the most challenging issues facing the modern medtech market at Memphis Bioworks on Oct. 21. Register here.
- SEBIO Forum: The Southeast BIO (SEBIO) Investor & Partnering Forum will be held Nov. 6-7 at The Biltmore in Miami-Coral Gables, FL. The conference provides an unparalleled opportunity to meet key decisionmakers in the regional and national life science and medical technology communities. Register today.
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LST News
A $118 million investment could place Genera Energy's Earthable products on shelves in stores and homes nationwide—at least that's what its founders are hoping for. The Vonore-based company has been working for more than a decade to break through the eco-friendly fiber industry. Now, the company's founders have their sights set on creating a better future for farmers, local workers, buyers, and the environment. Kelly Tiller, president and CEO, and Sam Jackson, vice president, started Genera while the two taught at the University of Tennessee, but Tiller and Jackson saw opportunity in the bio industry. So, during entrepreneurial leave, they started what is now the plant-based product business.
A new round of tariffs on U.S. imports from China took effect Sept. 1, and China announced its own round of tariffs on U.S.-made goods would also take effect Sept 1. While the U.S. list contains just a few healthcare products (e.g., surgical drapes and medical gloves) and seems to be dominated by food and clothing items, it does include raw materials such as several forms of aluminum, iron, stainless steel, and others, raising the question as to the impact on medical device manufacturing.
The Food and Drug Administration last year approved its first autonomous, artificially intelligent medical device. In a decision that seemed to take a page from science fiction, the FDA gave the OK to the IDx-DR, a device that uses artificial intelligence to analyze images of the back of a patient’s eye to detect if they have diabetic retinopathy. It’s the first FDA-approved device to provide a screening decision without requiring a clinician to interpret the results—which means providers who aren’t eye specialists, such as primary-care physicians, can rely on it to screen for the eye disease.
Drug prices are once again a major focus of public policy in Washington D.C. President Trump has stated that reducing drug prices is one of his highest priorities. The administration recently issued new regulations requiring manufactures to list the price of their drugs in television ads. Congress has already passed the Know the Lowest Price Act and the Patient Right to Know Drug Prices Act, both of which try to promote transparency in prices. The Senate Special Committee on Aging recently conducted a series of hearings on drug pricing. And the Senate’s bipartisan Prescription Drug Pricing Reduction Act would reduce government spending on drugs by an estimated $100 billion over the next decade. This renewed attention is due to several factors.
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