Connecting people to drive innovation

July 2011 v.1, n.31

The Conundrum of the Life Science Industry
Stephanie Marrus, Larta Institute/Startup America Partnership

Flashback: It’s 1992, the year I opted into the biotechnology industry. Things were steaming. The two year old company I joined, founded by a former Merck researcher, had just gone public at an outrageous valuation without even one drug close to clinical trials. Wall Street loved us.

Everyone was buzzing about the promise of biotech and the revolutionary advances from new technologies that would rationalize the haphazard process of discovering new drugs. Instead of mass screening of natural products such as tree bark and plants to discover molecules that might have therapeutic benefit, we could structurally design drugs... Read more...

U.S. House of Representatives Approves America Invents Act
Brian A. Fairchild, Goodwin Procter

With the recent passage of H.R. 1249 by the U.S. House of Representatives, Congress is poised to enact the most sweeping reform of the patent laws since the Patent Act of 1952. A similar version of the “America Invents Act” was passed by the U.S. Senate earlier this year. Once the House and Senate versions are reconciled and the final bill is signed into law, as is widely expected, the patent system will change dramatically.

Under the proposed reform, the America Invents Act replaces the current “first-to-invent” patent regime with a “first-inventor-to-file” system.... Read more...

Ten Tips For Finding And Working With Angel Investors
David Gass, Fast Company

If you are starting a business or growing an existing business, you are likely to find yourself in a situation where you need capital. Unfortunately, the majority of small business owners these days don't qualify for traditional bank financing. Instead they are seeking alternative sources of capital, such as an Angel Investor or Angel Group.

Most entrepreneurs when presented with the option of working with Angel Investors respond negatively. They don't know how to find angel investors or how to approach them. So here are ten tips for finding and working with angel investors... Read more...

Larta Active at BIO International Convention

Judy Hsieh and Rebecca Lauber recently attended this year’s BIO Convention in Washington, D.C. The event brought more than 20,000 attendees from the biotechnology industry, from startups to large industry players representing more than 40 countries.

Tuesday’s and Wednesday’s keynote sessions offered in-depth analyses of issues challenging and evolving the industry. Tuesday’s session featured former Prime Minister Tony Blair and Wednesday’s featured a discussion on the Affordable Care Act with Senator John Barrasso, former Senator Tom Daschle, Governor Howard Dean and political strategist Karl Rove. A global session to note was moderated by Fareed Zakaria, Newsweek International editor, CNN host and author. The panel focused on the BRICs’ (Brazil, Russia, India and China) emergence as dynamic industry players, and the prospective impact of these developments on the U.S.

Judy and Rebecca also spent time at the conference meeting with Larta’s global and industry partners. Allergan, Bayer, Merck, Novo Nordisk, Pfizer were among the partners that Larta connected with at the conference. Judy and Rebecca also hosted an executive from Sekisui Integrated Research Inc. visiting from Japan who is also a member of Larta’s Life Sciences and Chemical/Materials Advisory Boards and a continuing supporter of Larta.

Larta Welcomes 54 New SBIR/STTR Phase I Companies to the NSF-CAP1

Larta would like to welcome 54 newly funded NSF SBIR/STTR Phase I companies who have the opportunity to participate in Larta’s NSF Commercialization Assistance Program (NSF-CAP1). As one cycle of Larta’s NSF-CAP1 comes to a close, the new group of NSF funded companies will comprise Larta’s 5th iteration of the program. NSF continues to fund a broad range of technologies represented in the new group of companies including cleantech, energy, electronics, materials, software, and life sciences, and others.

As NSF-CAP1 participating companies make their way along the path to commercialization, each will receive one-on-one personalized mentoring services with a dedicated Larta industry consultant and commercialization expert. Additional resources, made possible by Larta’s extensive network, are also made available, including Larta’s Industry Advisory Board, comprised of key industry members from fortune 1000 companies, as well as webinars delivered by experts on topics directly relevant to Phase I companies developing their business and commercialization plan.


FreeMind Group Signs On as Larta Sponsor

Larta is excited to have FreeMind Group join Larta’s select group of diverse sponsors, bringing added value to Larta Commercialization Assistance Programs (CAP). FreeMind Group offers consulting services to help life science companies secure non-dilutive R&D funding. Over the last 10+ years, FreeMind has developed a tried and true method of strategically analyzing a client’s technology, identifying the most relevant funding opportunities, and presenting the science for the best possible chance of success in being funded.

FreeMind will be participating in Larta’s NIH-CAP Commercialization Training Workshop in Los Angeles this November and will be presenting specialized webinars to Larta CAP participants and alumni. We are pleased that this new partnership will provide an additional valuable resource for our early-stage life science companies.

Our pick of Larta-alumni companies that are making the news and already on their way to making it big!

Polyglot Wins National Healthcare App Contest

Two-time Larta NIH-CAP alumni Polyglot Systems recently won first place in the SMART Apps for Health Challenge, a national competition for apps that can be easily integrated into Electronic Health Record systems. Polyglot submitted a version of their Meducation® app which was originally developed under an NIH SBIR grant and the NIH-CAP program in 2008-2009. This app accesses a medication list, connects to a drug information database, and then generates simplified medication instructions for patients, available in a twelve languages. Larta CEO Rohit Shukla served as their Larta Advisor on the 2008-2009 project. Read the full contest press release here.

2 Larta Alumni Make Bloomberg Businessweek List

After evaluating over 200 suggestions from the community, Bloomberg Businessweek has released a list of 25 of “America’s Most Promising Social Entrepreneurs”. Bloomberg Businessweek reported that they examined each company’s impact, innovation and business success. When the dust settled, two Larta NSF-CAP1 participating companies had made the list: current participant Ecovative Design and alumnus Azavea. Ecovative has developed an environmentally friendly packaging material made of seed husks and mushroom roots in an attempt to replace conventional plastic packaging. Last month, they also won the highest level (Diamond) DuPont Packaging Award for their EcoCradle™ packaging.  Azavea has created a geographic software to help communities understand and solve societal and environmental problems. Read all 25 company profiles here.

3M Invests in GoNano Technologies Inc.

MOSCOW, Idaho, May 17, 2011 (BUSINESS WIRE) -- 3M, through its New Ventures Business, has invested in GoNano Technologies Inc., a [current NSF-CAP1 participant and] developer and manufacturer of high surface area nanomaterials for pollution control, catalysis, composites and sensory technologies headquartered in Moscow, Idaho. Terms of the transaction were not disclosed.

GoNano Technologies applies its versatile silica-based Nanospring technology to solve problems for customers seeking high surface area next generation solutions such as catalytic converters, Carbon Capture & Recycle™ and continuous flow reactors. Read more...

Rheonix, Inc. Signs Agreement with Mayo Medical Laboratories

Rheonix, Inc., a 2009 Larta NSF-CAP1 participant, has reached an agreement with Mayo Clinic to evaluate the performance of a genotyping test for warfarin sensitivity. Both parties hope to validate the method in order to eventually provide a more effective and cost-effective way of managing warfarin for patients. Read the full press release here.

Txteagle Gains Traction and Funding

Txteagle, a mobile startup and 2009 Larta NSF-CAP1 participant, has taken on the challenge of gaining insight into emerging economies by using mobile phones and a creative value proposition. Txteagle purchases prepaid airtime from service providers to compensate mobile phone users who fill out a survey, provide data or perhaps purchase an advertised product. Even the United Nations has used txteagle’s service to conduct their annual disaster-preparedness survey in 50 countries.

In April, txteagle raised $8.5M in Series A funding with a goal of growing their presence with their advertising and couponing platform. The company hopes to be operating in 100 emerging economies before 2012. Just 2 months later, the company was recognized as one of the 2011 OnMobile Top 100 Private Companies, in the Marketing & Sales category.

Midwest Clean Tech 2011 & Brinks Innovation Competition
September 14, 2011 - Federal Reserve Bank of Chicago, IL

Midwest Clean Tech, now in its 4th consecutive year, will take place September 14, 2011 at the Federal Reserve Bank of Chicago, and is an international marketplace forum that creates opportunities for Midwestern and global entrepreneurs to engage with top keynote and panel speakers, innovators and financiers from the clean tech community. The event highlights opportunities in energy, infrastructure, green manufacturing, transportation, agriculture and environment.

In conjunction with the conference, the Brinks Innovation Competition is a one day program exhibiting Midwest excellence in Clean Technology innovation, products, and services.  Read more...

AdvaMed 2011
September 26-28, 2011 - Walter E. Washington Convention Center, Washington, D.C.

AdvaMed 2011: The MedTech Conference will bring together 2,000 executives from the medical device and diagnostics industries in Washington, DC, September 26-28. In addition to the quality sessions on topics such as the 510(k) process, product development and funding, you will have direct access to a growing list of executives who plan to attend the event.

Use our PartneringOne™ software to arrange and accept meetings on-site with only the companies/firms you want to see. Attending AdvaMed 2011 is a smart business decision and I hope that you can be there. Larta affiliated companies may register here at the low investor rate of $695.00.

Visit our Events Calendar for a list of Larta's partners' events.