Invest In Biomed is a unique Eurobiomed program that assists innovative health companies in consolidating their fundraising approach and tools, and connects them with specialized investors in the sector. On the occasion of the launch of the 10th edition of this program, we are featuring entrepreneurs who have benefited from it.
Entrepreneurs from the scientific and academic world, Philippe Andres, Janusz Czernielewski, and Gareth Winckle, benefited from Eurobiomed's Invest In Biomed program to structure their financing strategy. Their company, Tarian Pharma, which develops solutions to combat cutaneous adverse effects of cancer treatments, successfully raised 4 million euros in two successive rounds.
How did the Invest In Biomed program help you adapt your pitch to investors?
Janusz Czernielewski: Coming from the scientific and academic world, we tended to be overly technical in our presentations. The support enabled us to learn the vocabulary and conventions of the financial sector.
We realized that an overly scientific discourse could quickly disengage investors. The Eurobiomed team guided us in presenting our innovation more accessibly, without compromising its core substance.
How did you address the concept of risk with investors?
Philippe Andres : There was a significant disparity between our perception of risk and that of financial stakeholders. For the latter, a project in the preclinical phase represents a major risk. While we were confident in the robustness of our scientific data, this message was not readily perceived by them.
The program assisted us in better understanding this perception and adapting our communication accordingly.
What adjustments did you make to your fundraising strategy?
Gareth Winckle : Initially, we aimed for an ambitious fundraising round to cover a substantial portion of our program. The discussions led us to understand that it was preferable to 'segment' our approach.
We revised our target to approximately 2 million euros for the initial fundraising round, an amount more appropriate for our stage of development. This strategy proved successful, as we managed to secure investor commitment before completing a second round a year later.
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