labvie

Follow up to: We came up with a cure to cancer and no VC wants to fund us

Posted by labvie on Tuesday June 23, 2015 @04:22PM
from the self-post dept.

Well, quite a bit has happened in the last few weeks since I posted here. For one, we got a response from investors, but none of the ones I expected.I had six meetings lined up with some top VC firms, but really none of them focused on the bio space so I decided to cancel and focus on the firms that do. If they don't focus on biotech what could they contribute if our goal is to do clinical...

( Read More... | 1 comment | 5 points | on HN )

Re:We came up with a cure to cancer and no VC wants to fund us on Wednesday May 20, 2015 @08:22PM (#9580272)

Yes, I have but we would have to be considered for summer in order to postpone our series A which we are commencing. If we raise money, we will not be able to do YC later on. I just know.

Re:We came up with a cure to cancer and no VC wants to fund us on Wednesday May 20, 2015 @08:10PM (#9580226)

The truth is we didn't want to sell to big pharma, they would have shelved likely. Cures don't make profit, treatments do. This is why we wanted to create a company that could put this out to market in less than ten years, get it approved by the FDA as a breakthrough and have it in market in 5 years. Subsidize it to people with need and low income.

These are the reasons we felt being in control of the destiny of it was the safest bet. But so far, it seems that the easy way out is to sell it, which would mean it would not become what we want it to be, a cure to various diseases.

Re:We came up with a cure to cancer and no VC wants to fund us on Wednesday May 20, 2015 @08:04PM (#9580203)

I've never raised before. It's the first time we create a private company based on the research we are doing. I contacted somewhere around 700, which includes partners, associates, juniors from about 100 VC firms.

Re:We came up with a cure to cancer and no VC wants to fund us on Wednesday May 20, 2015 @08:01PM (#9580191)

What is ironic is that I actually have Dave Mcclure's email/number, I reached out to him personally and he didn't so much as respond. It was quite a realization of how things work in SV. This week has been very tough, and disappointing. We will continue to bootstrap using grants from the NIH until something better comes along our way.

We came up with a cure to cancer and no VC wants to fund us

Posted by labvie on Wednesday May 20, 2015 @07:49PM
from the self-post dept.

I've been trying to fundraise for my company, we found a compound that reduces tumor formation by 80%, effectively its a cure to cancer waiting to be marketed. The second compound inhibits fat collection in adipose tissue, its a good inhibitor to heart disease. Both are major breakthroughts.We even got an offer to buy us out for 200 million. And yet, we turned down the offer in hopes to turn...

( Read More... | 18 comments | 14 points | on HN )