On Tuesday, April 13, Southeast Life Sciences convened a panel of industry leading medtech and life science investors to discuss how activities have shifted and what the mid-long term ramifications will mean to early stage innovators.
Bob Crutchfield moderated the discussion including insights from:
Gerry Brunk of Lumira Ventures, Joe Cook III of Mountain Group Partners and Kyparissia Sirinakis of Epidarex Capital.
A few of the top takeaways included:
- There are, and will continue to be, significant disruptions in GLP preclinical work required to achieve an IND or entry into clinical trials.
- New medical technologies with ‘capex’ implications for hospital budgets will be at a significant funding and commercialization disadvantage for at least 12 to 24 months.
- Telehealth and remote monitoring should be poised well for structural changes including adoption and reimbursement.
- High net worth family offices have plenty of capital to invest. They will ‘lean in’ on increasing stakes in existing investments and in sectors or stages least likely to be impacted. The telehealth genie, for example, will not likely go ‘back into its lamp.’ Opportunity: What is going to really make it sing?
- Innovators need to adjust timelines to reflect new realities and resources required. Runway extension is the current name of the game, especially for technologies requiring clinical studies. Break up your pathway into ‘bite size’ milestones and discontinue using any pre-COVID-19 valuation and structure analogs.
- Keep the conversation going. Investors are now considering technologies they may have passed on previously. They are continuing to do their due diligence. Many are focused more highly on solutions so transformative on patient benefit and cost reduction than they ever have been before. Early stage companies’ funding rounds will take longer, but great companies will always find funding.
- The translational aspect of new medtech and life science innovations needs to be stronger than ever before.
We encourage everyone, especially early stage medtech and life science companies, to give the full session a watch or listen HERE.