To Fail or Not to Fail – Pitfalls in Funding and Sustaining a Biotech Startup
Christine Fischette, Ph.D., CEO, BioLinkUp, LLC
Stephen M. Goodman, Co-founder, Mid Atlantic Bio Angels and 1st Pitch Life Science and Partner, Pryor Cashman LLP
Lenzie Harcum, Director, Life Sciences & Healthcare Desks, NYC Economic Development Corporation
Gerard Honig, PhD, Founder, President and CEO, Symbiotic Health
Noah Kroloff, Partner, NGN Capital
Many events in NYC focus on how to start and fund companies. But how have companies failed in either the start-up process or sustaining the company after the initial investment? Our panel of experts will discuss lessons learned, from funding to science to strategic management, and ways to recover from negative events. The panel will also share their thoughts on the outlook for the coming year in the Big Apple
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Christine T. Fischette, Ph.D. is CEO of BioLinkUp, LLC, a Corporate Strategy/Business Development Consulting entity, Independent Consultant for Torreya Partners, NY, a financial advisory firm and Griffin Securities, NY, a boutique investment banking firm, Board member, drug/device start-ups, Chair, M&A Committee LES and Co-Chair LES-NYC Chapter. Formerly she was President of Enzo Therapeutics, [Enzo Biochem (ENZ:NYSE)] and has spent 25+ years at Roche, Pfizer and Novartis with increasing areas of responsibility covering multiple therapeutic areas of research, drug development, commercialization and business development. She has executed multiple deals utilizing a variety of deal structures with small and large BioPharma organizations in US, EU, India, Japan and China. During her tenure at Pfizer she directed the entire drug development process (IND/NDA) and subsequent marketing effort for an anti-diabetes therapy bringing sales to ~ $350m. She conducted research as Senior Scientist (Roche) and Rockefeller and holds a Ph.D. (Physiology, UMDNJ). She has authored over 50 publications in peer-reviewed publications, including Science.
Stephen M. Goodman is a co-founder of Mid Atlantic Bio Angels (www.bioangels.net), an angel investor group, and 1st Pitch Life Science (www.1stpitchlifescience.com), a public forum for pitches from pre-investment stage companies, in each case focused on life science companies. He has mentored numerous life science and technology start-ups through the Lang Center for Entrepreneurship at The Eugene Lang Entrepreneurship Center at Columbia Business School and the E-Lab for Life Science Entrepreneurs sponsored by the New York City Economic Development Corporation. Mr. Goodman is also a partner and co-head of the Mergers and Acquisitions Practice at Pryor Cashman LLP in New York City. His clients include drug development and diagnostic companies, medical device companies, clinical trial management companies and companies in other technology businesses. He is the chair of the Biotechnology Law Committee of the American Bar Association’s Science and Technology Law Section.
Lenzie Harcum is Vice President of the New York City Economic Development Corporation, the City’s primary vehicle for promoting economic growth. Lenzie leads life sciences and healthcare initiatives, building programs that translate NYC's strategic policy goals into growth opportunities for startups, businesses and neighborhoods. Partnering with the private sector, his group supports entrepreneurs and catalyzes demand for innovative products and services, including incubators, competitions and demonstration projects.
Key Projects Include: ELAB NYC, SBIR IMPACT NYC, Harlem Biospace, Pilot Health Tech NYC, Community Health Center Expansion Program
Gerard Honig is the CEO of Symbiotic Health Inc., a therapeutics startup company based in New York City. Gerard received his undergraduate education at Columbia and worked in the laboratories of Bruce McEwen and Paul Greengard. Gerard then pursued doctoral training in the Neuroscience Program at UCSF, where he identified feedback mechanisms which limit the pharmacological action of antidepressant drugs. After receiving his PhD, Gerard trained from 2010-11 in Dan Littman’s laboratory at NYU, developing mouse models to study relationships between the microbiome and autoimmunity. He then was a postdoctoral fellow in Betty Diamond’s laboratory, studying the effects of bacterial infection on cerebrovascular inflammation. In 2013, he founded Symbiotic Health to develop and commercialize novel treatments for infectious diseases. Symbiotic Health is based in New York City and focuses on pairing microbiomebased therapeutic agents with novel drug delivery systems for oral administration.
Noah J. Kroloff is a partner at late-stage healthcare venture capital firm NGN Capital and also Managing Partner at Black Granite Capital a growth equity firm investing in healthcare and technology. Mr. Kroloff has 25 years of experience helping innovative companies grow, primarily in healthcare. At NGN Capital, Mr. Kroloff has for the last 10 years been sourcing, evaluating, negotiating, managing and monetizing healthcare equity investments, with a primary focus on medical devices. Prior to NGN Capital, Mr. Kroloff served as an executive officer at i-STAT Corp., a publicly-traded medical device company where he was Vice President for International Sales & Marketing and Corporate Development. He led the creation of global alliances with Abbott Laboratories and Hewlett-Packard Medical Products Group and created i-STAT’s international distribution network. He was actively involved in the sale of i-STAT to Abbott for approximately $450 million. Prior to i-STAT, Mr. Kroloff was an Engagement Manager at McKinsey & Co. where he advised leading pharmaceutical and diagnostics companies on R&D management, portfolio strategy, and alliance formation.
Mr. Kroloff received his BA in general science from Brandeis University and his MBA from the MIT Sloan School of Management where he was a co-founder of and serves as a judge in the MIT $100K Entrepreneurship Competition. Mr. Kroloff is a member of the board of Valtech Cardio, Cerapedics, and Coagulation Sciences and a board observer at OptiScan Biomedical. He is a member of the board of the American Technion Society-NY and of McKinsey’s alumni advisory council and is an advisor to the NYC Economic Development Corporation’s healthcare division.