Start-up Innovimmune Biotherapeutics, Inc. Pursues Pharma Partners, Shuns VCs
Published: Aug 07, 2012
When Anderson Gaweco started his biotech company in New York in 2010, he planned to follow the standard entrepreneurship blueprint-for-success and pursue venture capital financing. But the more Gaweco learned about the two compounds his company had developed to treat autoimmune and inflammatory diseases, the more convinced he was he didn’t need VC financing. “We are ready for pharma partners right now,” Gaweco says. Biotech-Big Pharma partnerships are not uncommon in life sciences these days. Pharma companies need to bolster their pipelines with innovations from biotech startups, and the startups need the cash to help turn those inventions into marketable drugs. But usually biotech entrepreneurs wait until they have compelling data—from early-stage human trials, or at least from animal studies—before they try to convince any deep-pocketed partner to take a bet on them.