Day 3 chisma and discussion panel and omrix

23 Jan

Today we went back to Jerusalem and visited Chiasma.

Chiasma

Investments of 400million over the time of 10years. They develop oral drugs which addresses unmet needs for well defined markets such as hormonal disorder that results from an excess of growth hormone.

There was a panel of entrepreneurs in the medical field and a venture capitalist.

First company: Medasense
Gailt zuckerman the CEO explained us how she founded the company. It all stars with a Great idea … Then the challenge is: How to overcome the obstacle?
The idea was Pain monitoring.
How do you handle Non communicating patients? How is the pain level measured?

The next step is How to raise seed money?
Start basic / agile business development

Then it is important to Learn the field
Talk with other people and Build up your team
–> reduce uncertainty without money
Get it written

Once this is reached the next step is the Perspective of investment
Each stage has to have a Financible
milestone.
Have concept ready before getting the money. A lot is networking in order to get the money. How many phone calls away are you from a Financial milestone?
Develop financial strategy and fund raising strategy.

The lesson I learned was that everything has to go step by step. And connection is key in order to have the right amount of financing the company needs. A great idea is not necessarily a great way of making money right away.

The next speaker was Steven Eitan, CEO of Exalenz.

Exalenz develops a Breath analysis solution for Liver and gastro intestinal disorders it is 99% more accurate than blood test.

Detecting h pylori Assures a continuous revenue stream. There is no existing technology for it. The device is places at 120 physicians that serve /gi/ and emergency rooms throughout the United States.
Difference in culture vs blood test.
Marketing solution Is to panel people and educate the doctors. It is more cost effective than blood test and the result is right away instead of 2 days later.
Know the market is key to be successful in the industry you are in.

The following panel speaker was Dalia Megiddo, managing partner at Expedio ventures.
It is a venture capital firm, specializing in investments in companies of all stages including early development through late stage. The firms seeks to make investments in developing healthcare technologies. It typically invests in Israeli and Israeli related companies.

The last speaker was the founder of Commwell Daniel David. a central player in the tele-health market.

Their two products are The health e care platform which is a multi-mofality , all inclusive, patient centered, home health system and The PhysioGlove is a glove based platform for capturing vital signs. Software is proprietary. It is fast and cost effective.

Omrix Owned by ethicon a j&j company
John Gethon presented us the company. They have a Decentralized management approach with Growth strategy.
Historical fact for Omrix
1995 Established
2005 started to work with ethicon as a supplier
2008 sold to jnj for 400 mil$ had 220 employees.
Today 460 employees.

The products are:

Stop bleeding made of Seal tissue.
Fibrin pad tissue will be released next year.

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