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TABLE OF CONTENTS
ELABNYC
PROGRAM GROWTH
ECOSYSTEM IMPACT
WHO WE ARE
ELABNYC TEAM
SUCCESS TO CELEBRATE
CASE STUDY
2019 PITCH DAY APRIL 10
2ND ANNUAL DUE DILIGENCE WORKSHOP
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ELabNYC, Entrepreneurship Lab Bio and
Healthtech NYC, initiated by NYCEDC in
2012 now has 135 venture alumni including
Cresilon, DUST, Yiviva, and Landos Biopharma.
ELabNYC ventures include therapeutics,
diagnostics, devices, research tools, software,
and materials technology breakthroughs.
ELabNYC represents the earliest stage of
Design Technologies life science acceleration
programs: one-half of the ventures who enter
ELabNYC are not yet incorporated, 70% are
affiliated with research institutions. Many
ventures enter the program while working on
a full-time job outside the startup. ELabNYC
ventures have raised over $398M since 2012
from seed funds, grants, angels, international
and government funding sources.
Design Technologies brings specific values in
support of our mission to help build emerging
ventures.
These values include the belief that:
ELABNYC
Entrepreneurship is a learnable set of
information, practices and business
networks.
Engineers, scientists and
MD’s are capable of learning
entrepreneurship.
Customers are the best source of
development feedback and start-up
funding.
Entrepreneurs make excellent
teachers and coaches, community
members and moderators.
Community syndication, the local
collaborative support of emerging
ventures, builds local economy
resiliency and strengthens startups’
stickiness.
Community building requires a ten-
year start-up commitment.
Global strategic planning starts with
the decision to create a venture.
Entrepreneurs are our customers.
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PROGRAM GROWTH
TO DATE IN 2019
231PARTICIPANTS
100+MENTORS
135VENTURES
11CORPORATE
PARTNERS
490+EVENTS
SINCE 2013
95UNIQUE EVENTS
PIPELINE TO NYC INCUBATORSELABNYC ALUMS AS % OF INCUBATOR CLIENTS
CORPORATE SUPPORTERS
SERVICE PROVIDERS
44%
22%
4%
38%
28%
5
0
100
200
300
400
From New Ventures to New Companies**62% of ventures are incorporated at entry.92% are incorporated by end.ELabNYC helps create 5-6 companies a year
Before Program During Program Total Raised to Date
ECOSYSTEM IMPACT 2013-2019 VENTURES
FUNDS RAISED**$MILLIONS
JOB CREATION*
Total number of jobs createdinsix program years of ELabNYC. At the annual mean wage, $76,270**/yr, that is $18.8 M/year in new wages. The average increase in the size of the team is +1.8 people.246
*Source: ELabNYC 2019 Alum Survey **https://www.bls.gov/oes/current/oes_ny.htm#19-0000 ***Source: Design Technologies ELabNYC Reports
ECOSYSTEM IMPACT
FROM NEW VENTURESTO NEW COMPANIES92% OF VENTURES ARE INCORPORATED BY PROGRAM END
***
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ECOSYSTEM IMPACT ALUM VENTURES
MANUFACTURING
STAGE OF DEVELOPMENT *
*Source: ELabNYC 2019 Alum Survey**https://www.bls.gov/oes/current/oes_ny.htm#19-0000***Source: Design Technologies ELabNYC Reports
0%
5%
10%
15%
20%
25%
30%
35%
Prototype or Proof of Concept
New idea for the Technology
Working on Addtional
Technologies
Generating Revenue
In Phase II Clinical Trials
Met FDA - Pre IND meeting
0% 15%
Produced in own GLP/GMP manufacturing facility
Looking for GLP/GMP production capability now
Outside US outsource GLP/GMP vendor
US outsource GLP/GMP vendor
Produced at incubator
Non GLP/GMP research institution lab
ECOSYSTEM IMPACT
Percent of Ventures
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WHO IS IN THE PROGRAM?
70% OF ALUMS ARE AFFILIATED WITH RESEARCH INSTITUTIONS
AREAS OF TECHNOLOGY OF 2013-2019 VENTURES
17% Health IT
12% Diagnostics
2% Materials
7% Research Tools
29% Therapeutic
7% Research
26% Medical Devices
WHOWE ARE
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THE ELABNYC TEAM:
Mary HowardProgram Manager
Karolyn Chamberlin Head of Mentorship
Coaches:
Martin Krusin
Lori Lonczak
Juhani Perhonen
Brendan Rae
45%WOMEN FOUNDED
IN 2019
55%IMMIGRANT FOUNDED
IN 2019
WHO WE ARE
WHO IS IN THE PROGRAM?
Colette ThompsonDirector of Event Production
Isabel Alvarez De LugoAnalyst
Tom Gerson
Lee Greene
Travis Millman
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IN THE PRESS
Selin Kurnaz - Massive Bio Massive Bio, Inc. a leader in
precision medicine and patient centric clinical trial matching,
announces today its partnership in the Biden Cancer
Initiative’s Oncology Clinical Trial Information Commons
(OCTIC). Jun 2019
National Geographic Magazine’s January 2019 issue is
dedicated to The Future of Medicine - and discusses Yiviva’s
Co-Founders Yung-Chi Cheng, Shwu-Huey Liu and their drug
YIV-906 (PHY906). Jan 2019
Bioharmony, announced a Collaborative Research and
Licensing Agreement with Boehringer Ingelheim to develop
bacteriophage lysins for the treatment of multidrug resistant
(MDR) Acinetobacter infections. Jan 2019
Landos Biopharma announced the closing of a $60M Series
B led by Series A investor Xonotogeny. Aug 2019
Serge Loncar, CareSpeak Communications. OptimizeRx,
a software company focused on pharma-provider digital
health messaging, has completed a $9 million deal to
acquire medication adherence and care coordination
messaging company CareSpeak Communications.
Nov 2018
Bonbouton, brought its prototype insoles to the T1D
Exchange Diabetes Innovation Challenge in 2018, where
they were the second-place winners, receiving $25k in
prize money. Apr 2019
Synthis, was awarded an SBIR grant of $300k for their work
on development of T cell targeted TGF-B antagonist that
reverses immune suppression in melanoma patients.
Sep 2018
Ichor Biologics received a $300k grant from the National
Institutes of Health to utilize its platform technology to
develop broadly neutralizing antibodies against deadly
hantavirus infections. May 2019
Dust Identity raises $10 million in new capital from KPCB,
Airbus, and Lockheed Martin to support company momentum
and product development. Jul 2019
Yesse Technolgies, formerly MouSensor, selected by the
Michael J. Fox Foundation for Parkinson's Research to
receive follow up funding of $250K. Jul 2019
SUCCESS TO CELEBRATE
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“Both Charlotte and I were hungry to get
our company off the ground, and we are
grateful that ELab gave us the skills to do
so,” recalls Dr. Feinstein, ELabNYC’16.
Yesse Technologies (formerly MouSensor) is a
startup that emerged from a lab at CUNY’s Hunter
College and is now thriving at the seed stage. The
company cofounders are Prof. Paul Feinstein, a
world-renowned expert in the human sense of smell,
and Dr. Charlotte D’Hulst, one of his postdoctoral
students.
“The ELab bootcamp taught us the mechanics of setting
up a company and the skills to write a business plan.
ELab also gave the opportunity to practice what we
had learned and get feedback,” Prof. Paul Feinstein,
Yesse Technologies. Drs. Feinstein and D’Hulst
readily envisioned commercial applications like
explosives detection, but despite their deep scientific
backgrounds, they were not fully prepared for the
demanding, fast-moving world of entrepreneurship.
Yesse benefited from the immersion in ELabNYC,
during which the business was incorporated with Dr.
D’Hulst as CEO and Prof. Feinstein as CSO. After it
graduated from ELab, the company moved into the
SUNY Downstate Biotechnology Incubator, where
NextMilestone provided follow-on mentoring
support.
Charlotte D'Hulst, PhDCo-founder and CEO
Paul Feinstein, PhDCo-founder and CSO
CASE STUDY
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Less than a decade ago, Yesse Technologies
was just an idea. Now it is a business with
clear target markets; full-time employees; and
a partnership that will scale its technology
from living mice to silicon chips. The company
has attracted more than $5.7 million in
funding, including $3.3 million in seed equity
and additional non-dilutive grants, including
from The Michael J. Fox Foundation for
Parkinson's Research. The seed round was
led by the Alexandria Seed Capital Platform
and imec.xpand, and was joined by New
York Ventures (the fund managed by Empire
State Development) and by Dr. Hawkins,
NextMilestone mentor, as an individual seed
investor. Throughout, its smart and persistent
cofounders have had key assists from ELab.
The example of Yesse Technologies, shows
how ELab delivers the following benefits to
companies with great promise that may not
yet be ready for A rounds, and to the life-
science ecosystem as a whole:
The confidence to patent discoveries that might otherwise languish at university TCOs
Business training that is missing from lean startup curricula
Targeted networking that leads to serendipitous opportunities, including for non-dilutive funding
Matchmaking between entrepreneurs and mentors that helps de-risk and advance a venture
Exposure of entrepreneurs to those with the capacity and willingness to invest
CASE STUDY
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In collaboration with New York City Economic
Development Corporation and CTNext, the
first combined ELabNYC & ABCT Pitch Day
was hosted at the NY Genome Center on April
10, 2019.
Pitch Day represents the first public
presentation of the ELabNYC and ABCT
program ventures business plans following
the intensive bootcamp and entrepreneur-
led coaching, and community supported
mentorship.
Jessica Dodge, CTNext
New York Genome CenterHosted the ELabNYC-ABCT Pitch Day
Mike Baran, Pfizer, Linda Malek, Moses & Singer, John Pennet, EisnerAmper, and Joe Landolina, Cresilon received awards for their contributions to the ecosystem
Ana Ariño, NYCEDC
2019 PITCH DAYAPRIL 10
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2ND ANNUAL DUE DILIGENCE WORKSHOP
The 2nd Annual "Preparing for Due Diligence”
Workshop for founders of emergent life
sciences ventures pursuing professional
investment including Angels, Foundations,
Seed Funds, Corporate Strategic Investment
and Corporate venture investment.
PREPARING FOR DUE DILIGENCE
Host:
Know your ask, know your investorsChris Barnstable-Brown, WilmerHaleThijs Spoor, AzurRx PharmaceuticalSundeep Bhan, PrognosMike Baran, Pfizer Venture FundEvan Myrianthopoulos, GPB CapitalSusan Crinnion, JP Morgan
Tools and techniques to aid prep for Due Diligence Craig Kenesky, WSGRPhil Bergamo, EisnerAmperAbby Roberts, Toppan MerrillJules Mitchel, Target HealthPhil Glick, ConnerStrongScott Matarese, WillisTowersWatson
New funds, New initiativesMary Howard, ELabNYC|ABCTSophia Cacciatore, EDCJason Campbell, Global Symmetry China
Closing Seed, Laying Ground work for Series A John Pennett, EisnerAmperBarry Kappel, SapienceYaniv Sneor, MABAMeghan Cross Breeden, Amplifyherventures
Fireside chatAlan Roemer, RoivantDennis Purcell, Aisling
Entrepreneur to professionally managed firm Alan Wink, EisnerAmperJohn Bradley, Torreya Partners Matt McCambridge, Eden Health Allan Shaw, Sirnaomics
Topics and Speakers:
Preparing for a Financing Muriel Liberto, Mintz
Fiona Mack, Roche, Biotech
Amit Bansal, Digitalis Medical Devices
Steve O’Laughlin, Actinium Pharm
